Grimes & Company Inc. Increases Stake in Shell plc (NYSE:SHEL)

Grimes & Company Inc. increased its holdings in shares of Shell plc (NYSE:SHEL) by 8.3% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 9,062 shares of the energy company’s stock after purchasing an additional 691 shares during the quarter. Grimes & Company Inc.’s holdings in Shell were worth $598,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SHEL. Brookstone Capital Management grew its position in Shell by 22.1% in the first quarter. Brookstone Capital Management now owns 13,038 shares of the energy company’s stock valued at $874,000 after acquiring an additional 2,358 shares in the last quarter. Wealthcare Advisory Partners LLC grew its position in Shell by 10.8% in the first quarter. Wealthcare Advisory Partners LLC now owns 7,759 shares of the energy company’s stock valued at $520,000 after acquiring an additional 759 shares in the last quarter. Fifth Third Wealth Advisors LLC acquired a new stake in Shell in the first quarter valued at approximately $262,000. Kathmere Capital Management LLC grew its position in Shell by 10.4% in the first quarter. Kathmere Capital Management LLC now owns 3,604 shares of the energy company’s stock valued at $242,000 after acquiring an additional 340 shares in the last quarter. Finally, Symphony Financial Ltd. Co. acquired a new stake in shares of Shell during the first quarter worth approximately $206,000. Institutional investors and hedge funds own 28.60% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on SHEL. Barclays raised shares of Shell to a “strong-buy” rating in a research report on Wednesday, October 2nd. Wells Fargo & Company raised their price target on shares of Shell from $84.00 to $88.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Sanford C. Bernstein raised shares of Shell to a “strong-buy” rating in a research report on Friday, October 11th. Scotiabank decreased their price target on shares of Shell from $90.00 to $80.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Finally, Wolfe Research started coverage on Shell in a research note on Thursday, July 18th. They set a “peer perform” rating on the stock. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $82.00.

Shell Stock Performance

SHEL stock opened at $66.43 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.12 and a current ratio of 1.41. The stock has a market capitalization of $206.74 billion, a price-to-earnings ratio of 11.86, a PEG ratio of 1.85 and a beta of 0.56. Shell plc has a 1 year low of $60.34 and a 1 year high of $74.61. The stock’s fifty day moving average is $68.74 and its two-hundred day moving average is $70.76.

Shell (NYSE:SHEL) last posted its earnings results on Thursday, August 1st. The energy company reported $1.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.82 by $0.15. The company had revenue of $75.06 billion for the quarter, compared to analysts’ expectations of $88.62 billion. Shell had a return on equity of 14.56% and a net margin of 5.97%. During the same period last year, the business posted $1.50 earnings per share. On average, research analysts predict that Shell plc will post 8.45 EPS for the current year.

Shell Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Friday, August 16th were paid a $0.688 dividend. This represents a $2.75 dividend on an annualized basis and a yield of 4.14%. The ex-dividend date was Friday, August 16th. Shell’s payout ratio is 49.11%.

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.