Avity Investment Management Inc. Purchases 813 Shares of Shell plc (NYSE:SHEL)

Avity Investment Management Inc. boosted its holdings in shares of Shell plc (NYSE:SHEL) by 25.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,039 shares of the energy company’s stock after acquiring an additional 813 shares during the quarter. Avity Investment Management Inc.’s holdings in Shell were worth $266,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the business. Hobbs Group Advisors LLC bought a new position in Shell during the 2nd quarter worth $26,000. Triad Wealth Partners LLC bought a new stake in Shell in the second quarter valued at approximately $31,000. Beaird Harris Wealth Management LLC raised its holdings in Shell by 611.1% during the 4th quarter. Beaird Harris Wealth Management LLC now owns 448 shares of the energy company’s stock worth $29,000 after purchasing an additional 385 shares during the last quarter. Fairscale Capital LLC acquired a new position in shares of Shell in the 2nd quarter worth approximately $33,000. Finally, LRI Investments LLC bought a new stake in shares of Shell in the 1st quarter valued at $47,000. Institutional investors own 28.60% of the company’s stock.

Shell Stock Down 0.5 %

Shares of Shell stock traded down $0.35 on Friday, hitting $68.49. The company had a trading volume of 2,992,024 shares, compared to its average volume of 4,175,285. The stock has a market capitalization of $214.43 billion, a price-to-earnings ratio of 12.23, a P/E/G ratio of 1.57 and a beta of 0.56. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.12 and a current ratio of 1.41. Shell plc has a 1 year low of $60.34 and a 1 year high of $74.61. The stock has a 50 day moving average of $69.58 and a 200-day moving average of $70.86.

Shell (NYSE:SHEL) last released its quarterly earnings results on Thursday, August 1st. The energy company reported $1.97 earnings per share for the quarter, beating 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 company had revenue of $75.06 billion for the quarter, compared to analyst estimates of $88.62 billion. During the same period last year, the firm earned $1.50 earnings per share. As a group, sell-side analysts forecast that Shell plc will post 8.44 earnings per share for the current year.

Shell Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Friday, August 16th were given a $0.688 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $2.75 annualized dividend and a yield of 4.02%. Shell’s dividend payout ratio is currently 49.11%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on SHEL shares. Berenberg Bank upgraded Shell to a “strong-buy” rating in a report on Monday, August 5th. Scotiabank cut their price target on Shell from $90.00 to $80.00 and set a “sector outperform” rating on the stock in a report on Thursday. Wells Fargo & Company boosted their target price on shares of Shell from $84.00 to $88.00 and gave the company an “overweight” rating in a research report on Tuesday. Royal Bank of Canada raised shares of Shell to a “moderate buy” rating in a research note on Tuesday, July 30th. Finally, Barclays raised Shell to a “strong-buy” rating in a research report on Wednesday, October 2nd. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate 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.