Shell plc (NYSE:SHEL) Shares Sold by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC lessened its holdings in Shell plc (NYSE:SHEL) by 15.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 37,978 shares of the energy company’s stock after selling 7,140 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Shell were worth $2,505,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of SHEL. Empyrean Capital Partners LP acquired a new position in Shell during the second quarter worth $151,578,000. Mondrian Investment Partners LTD increased its holdings in shares of Shell by 83.2% in the 1st quarter. Mondrian Investment Partners LTD now owns 2,187,872 shares of the energy company’s stock valued at $146,675,000 after purchasing an additional 993,342 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Shell by 13.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,715,078 shares of the energy company’s stock valued at $450,180,000 after purchasing an additional 772,736 shares during the period. Raymond James & Associates grew its position in Shell by 65.7% during the second quarter. Raymond James & Associates now owns 1,698,247 shares of the energy company’s stock worth $122,579,000 after buying an additional 673,624 shares during the period. Finally, Senator Investment Group LP purchased a new position in Shell in the first quarter valued at about $42,775,000. 28.60% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Wells Fargo & Company upped their price target on Shell from $84.00 to $88.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Citigroup raised Shell to a “hold” rating in a research note on Wednesday, October 2nd. Barclays upgraded shares of Shell to a “strong-buy” rating in a report on Wednesday, October 2nd. Berenberg Bank raised shares of Shell to a “strong-buy” rating in a report on Monday, August 5th. Finally, Royal Bank of Canada upgraded Shell to a “moderate buy” rating in a research report on Tuesday, July 30th. Three investment 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.com, the stock presently has an average rating of “Buy” and a consensus target price of $82.00.

Shell Trading Up 0.7 %

Shares of SHEL opened at $66.85 on Friday. Shell plc has a fifty-two week low of $60.34 and a fifty-two week high of $74.61. The stock has a fifty day moving average of $68.62 and a two-hundred day moving average of $70.72. 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 company has a market capitalization of $211.38 billion, a PE ratio of 12.33, a price-to-earnings-growth ratio of 1.85 and a beta of 0.56.

Shell (NYSE:SHEL) last issued its quarterly earnings results on Thursday, August 1st. The energy company reported $1.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.82 by $0.15. Shell had a return on equity of 14.56% and a net margin of 5.97%. The firm had revenue of $75.06 billion for the quarter, compared to analyst estimates of $88.62 billion. During the same period last year, the company earned $1.50 EPS. As a group, analysts forecast that Shell plc will post 8.45 EPS for the current year.

Shell Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Friday, August 16th were paid a dividend of $0.688 per share. This represents a $2.75 dividend on an annualized basis and a yield of 4.12%. The ex-dividend date was Friday, August 16th. Shell’s dividend payout ratio is currently 50.74%.

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.