Shell plc (NYSE:SHEL) Shares Purchased by NewEdge Advisors LLC

NewEdge Advisors LLC raised its stake in Shell plc (NYSE:SHEL) by 131.4% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 81,982 shares of the energy company’s stock after buying an additional 46,557 shares during the period. NewEdge Advisors LLC’s holdings in Shell were worth $5,917,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. United Community Bank increased its stake in Shell by 4.4% during the first quarter. United Community Bank now owns 3,315 shares of the energy company’s stock worth $222,000 after acquiring an additional 139 shares during the last quarter. First Horizon Advisors Inc. raised its holdings in Shell by 1.3% in the 2nd quarter. First Horizon Advisors Inc. now owns 11,097 shares of the energy company’s stock valued at $801,000 after buying an additional 142 shares during the period. Marcum Wealth LLC lifted its position in Shell by 3.7% in the first quarter. Marcum Wealth LLC now owns 4,223 shares of the energy company’s stock valued at $283,000 after buying an additional 150 shares during the last quarter. Lester Murray Antman dba SimplyRich increased its position in shares of Shell by 0.6% during the first quarter. Lester Murray Antman dba SimplyRich now owns 26,743 shares of the energy company’s stock valued at $1,793,000 after acquiring an additional 153 shares during the last quarter. Finally, Jones Financial Companies Lllp raised its stake in shares of Shell by 5.9% in the 4th quarter. Jones Financial Companies Lllp now owns 2,907 shares of the energy company’s stock valued at $191,000 after acquiring an additional 161 shares during the period. Hedge funds and other institutional investors own 28.60% of the company’s stock.

Wall Street Analysts Forecast Growth

SHEL has been the subject of several research reports. Scotiabank dropped their target price on shares of Shell from $95.00 to $90.00 and set a “sector outperform” rating for the company in a report on Friday, July 12th. Argus boosted their price objective on Shell from $77.00 to $79.00 and gave the company a “buy” rating in a report on Thursday, June 6th. Berenberg Bank raised Shell to a “strong-buy” rating in a research report on Monday, August 5th. Wells Fargo & Company reduced their price target on shares of Shell from $88.00 to $84.00 and set an “overweight” rating on the stock in a research report on Friday, September 27th. Finally, Wolfe Research assumed coverage on shares of Shell in a research note on Thursday, July 18th. They set a “peer perform” rating on the stock. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $83.50.

Shell Stock Up 1.4 %

Shares of Shell stock opened at $66.88 on Wednesday. The company has a quick ratio of 1.12, a current ratio of 1.41 and a debt-to-equity ratio of 0.35. Shell plc has a 52-week low of $60.34 and a 52-week high of $74.61. The company has a market capitalization of $209.39 billion, a P/E ratio of 12.32, a P/E/G ratio of 1.60 and a beta of 0.57. The company has a 50 day moving average of $70.23 and a 200 day moving average of $70.81.

Shell (NYSE:SHEL) last issued its earnings results on Thursday, August 1st. The energy company reported $1.97 EPS for the quarter, topping analysts’ consensus estimates of $1.82 by $0.15. Shell had a net margin of 5.97% and a return on equity of 14.56%. The firm had revenue of $75.06 billion during the quarter, compared to the consensus estimate of $88.62 billion. During the same quarter in the previous year, the firm posted $1.50 earnings per share. As a group, research analysts forecast that Shell plc will post 8.44 EPS for the current fiscal year.

Shell Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Friday, August 16th were paid a dividend of $0.688 per share. This represents a $2.75 annualized dividend and a yield of 4.11%. The ex-dividend date was Friday, August 16th. Shell’s payout ratio is 50.74%.

Shell Profile

Shell plc operates as an energy and petrochemical company Europe, Asia, Oceania, Africa, the United States, and Rest of the Americas. The company operates through Integrated Gas, Upstream, Marketing, Chemicals and Products, and Renewables and Energy Solutions segments. It explores for and extracts crude oil, natural gas, and natural gas liquids; markets and transports oil and gas; produces gas-to-liquids fuels and other products; and operates upstream and midstream infrastructure to deliver gas to market.