Birmingham Capital Management Co. Inc. AL Purchases 1,113 Shares of Shell plc (NYSE:SHEL)

Birmingham Capital Management Co. Inc. AL lifted its holdings in Shell plc (NYSE:SHEL) by 11.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,078 shares of the energy company’s stock after purchasing an additional 1,113 shares during the quarter. Birmingham Capital Management Co. Inc. AL’s holdings in Shell were worth $731,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SHEL. Hobbs Group Advisors LLC purchased a new position in Shell during the second quarter valued at approximately $26,000. Triad Wealth Partners LLC purchased a new stake in Shell during the second quarter worth $31,000. Fairscale Capital LLC acquired a new position in shares of Shell in the second quarter worth about $33,000. Fortitude Family Office LLC acquired a new position in Shell in the 3rd quarter worth about $30,000. Finally, Valley Wealth Managers Inc. acquired a new stake in Shell in the 3rd quarter valued at $33,000. 28.60% of the stock is currently owned by hedge funds and other institutional investors.

Shell Price Performance

SHEL stock traded down $0.41 during trading on Friday, hitting $63.59. The stock had a trading volume of 1,344,031 shares, compared to its average volume of 4,189,292. Shell plc has a 1-year low of $60.34 and a 1-year high of $74.61. The stock has a market cap of $196.84 billion, a price-to-earnings ratio of 13.14, a price-to-earnings-growth ratio of 4.92 and a beta of 0.55. The company’s 50 day moving average price is $66.33 and its two-hundred day moving average price is $69.18. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.13 and a current ratio of 1.40.

Shell Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, November 15th will be issued a $0.688 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.75 dividend on an annualized basis and a yield of 4.33%. Shell’s payout ratio is 56.58%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on SHEL. Citigroup upgraded shares of Shell to a “hold” rating in a research report on Wednesday, October 2nd. Scotiabank decreased their price target on shares of Shell from $90.00 to $80.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Sanford C. Bernstein raised shares of Shell to a “strong-buy” rating in a research note on Friday, October 11th. Barclays upgraded Shell to a “strong-buy” rating in a research report on Wednesday, October 2nd. Finally, Wells Fargo & Company reduced their price target on Shell from $88.00 to $87.00 and set an “overweight” rating on the stock in a report on Monday. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, Shell currently has an average rating of “Buy” and an average target price of $81.75.

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.