Apollon Wealth Management LLC Buys 2,766 Shares of Shell plc (NYSE:SHEL)

Apollon Wealth Management LLC lifted its stake in shares of Shell plc (NYSE:SHEL) by 14.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 22,030 shares of the energy company’s stock after purchasing an additional 2,766 shares during the quarter. Apollon Wealth Management LLC’s holdings in Shell were worth $1,453,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Empyrean Capital Partners LP purchased a new position in Shell during the second quarter worth about $151,578,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of Shell by 13.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,715,078 shares of the energy company’s stock worth $450,180,000 after purchasing an additional 772,736 shares in the last quarter. Raymond James & Associates increased its position in shares of Shell by 65.7% during the 2nd quarter. Raymond James & Associates now owns 1,698,247 shares of the energy company’s stock valued at $122,579,000 after purchasing an additional 673,624 shares during the last quarter. Senator Investment Group LP bought a new position in shares of Shell during the 1st quarter valued at about $42,775,000. Finally, Mediolanum International Funds Ltd bought a new position in shares of Shell during the 3rd quarter valued at about $37,274,000. 28.60% of the stock is currently owned by institutional investors.

Shell Stock Performance

NYSE:SHEL opened at $65.79 on Friday. The stock has a 50-day simple moving average of $67.41 and a two-hundred day simple moving average of $70.23. Shell plc has a 52-week low of $60.34 and a 52-week high of $74.61. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.13 and a current ratio of 1.40. The firm has a market capitalization of $204.75 billion, a PE ratio of 13.54, a P/E/G ratio of 1.98 and a beta of 0.56.

Shell Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, November 15th will be given a $0.688 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.75 annualized dividend and a dividend yield of 4.18%. Shell’s payout ratio is 56.58%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on SHEL shares. Wolfe Research started coverage on Shell in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Scotiabank dropped their price objective on Shell from $90.00 to $80.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Sanford C. Bernstein upgraded Shell to a “strong-buy” rating in a report on Friday, October 11th. Berenberg Bank upgraded Shell to a “strong-buy” rating in a report on Monday, August 5th. Finally, Wells Fargo & Company raised their target price on Shell from $84.00 to $88.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Three investment 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. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $82.00.

Shell Company 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.