Shell plc (NYSE:SHEL) Shares Purchased by Naviter Wealth LLC

Naviter Wealth LLC boosted its holdings in shares of Shell plc (NYSE:SHEL) by 0.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 82,503 shares of the energy company’s stock after acquiring an additional 501 shares during the quarter. Shell comprises 0.8% of Naviter Wealth LLC’s holdings, making the stock its 29th largest holding. Naviter Wealth LLC’s holdings in Shell were worth $5,441,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of SHEL. Hobbs Group Advisors LLC acquired a new position in shares of Shell in the second quarter worth $26,000. Triad Wealth Partners LLC acquired a new position in shares of Shell during the second quarter worth $31,000. Fairscale Capital LLC acquired a new position in shares of Shell during the second quarter worth $33,000. LRI Investments LLC grew its stake in shares of Shell by 3,856.3% during the second quarter. LRI Investments LLC now owns 633 shares of the energy company’s stock worth $46,000 after purchasing an additional 617 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Shell during the second quarter worth $49,000. Institutional investors and hedge funds own 28.60% of the company’s stock.

Shell Price Performance

Shares of Shell stock traded up $0.50 during mid-day trading on Thursday, reaching $67.14. 576,546 shares of the stock were exchanged, compared to its average volume of 4,152,546. Shell plc has a fifty-two week low of $60.34 and a fifty-two week high of $74.61. The firm has a 50-day simple moving average of $69.39 and a 200 day simple moving average of $70.89. The company has a current ratio of 1.41, a quick ratio of 1.12 and a debt-to-equity ratio of 0.35. The company has a market cap of $212.30 billion, a price-to-earnings ratio of 12.30, a price-to-earnings-growth ratio of 1.57 and a beta of 0.56.

Shell (NYSE:SHEL) last issued its earnings results on Thursday, August 1st. The energy company reported $1.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.82 by $0.15. The company had revenue of $75.06 billion for the quarter, compared to analyst estimates of $88.62 billion. Shell had a net margin of 5.97% and a return on equity of 14.56%. During the same quarter last year, the firm earned $1.50 EPS. On average, sell-side analysts predict that Shell plc will post 8.44 EPS for the current fiscal year.

Shell Dividend Announcement

The company also recently declared 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 4.10%. The ex-dividend date of this dividend was Friday, August 16th. Shell’s dividend payout ratio is currently 50.74%.

Analysts Set New Price Targets

Several research firms have issued reports on SHEL. Berenberg Bank upgraded shares of Shell to a “strong-buy” rating in a research note on Monday, August 5th. Wolfe Research started coverage on shares of Shell in a research note on Thursday, July 18th. They set a “peer perform” rating for the company. Wells Fargo & Company increased their target price on shares of Shell from $84.00 to $88.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Royal Bank of Canada raised shares of Shell to a “moderate buy” rating in a report on Tuesday, July 30th. Finally, Citigroup raised shares of Shell to a “hold” rating in a report on Wednesday, October 2nd. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average 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.