Ascension Capital Advisors Inc. Makes New Investment in Shell plc (NYSE:SHEL)

Ascension Capital Advisors Inc. purchased a new stake in Shell plc (NYSE:SHEL) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 3,242 shares of the energy company’s stock, valued at approximately $214,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Hobbs Group Advisors LLC acquired a new position in shares of Shell during the 2nd quarter valued at about $26,000. Triad Wealth Partners LLC acquired a new position in Shell during the second quarter valued at approximately $31,000. Fairscale Capital LLC acquired a new stake in shares of Shell in the second quarter worth $33,000. Fortitude Family Office LLC bought a new stake in shares of Shell during the 3rd quarter worth $30,000. Finally, GHP Investment Advisors Inc. raised its holdings in Shell by 40.8% in the 3rd quarter. GHP Investment Advisors Inc. now owns 563 shares of the energy company’s stock worth $37,000 after acquiring an additional 163 shares during the period. Institutional investors own 28.60% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on SHEL. Royal Bank of Canada raised Shell to a “moderate buy” rating in a research report on Tuesday, July 30th. Wells Fargo & Company lifted their price target on Shell from $84.00 to $88.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Citigroup upgraded shares of Shell to a “hold” rating in a research note on Wednesday, October 2nd. Berenberg Bank raised shares of Shell to a “strong-buy” rating in a report on Monday, August 5th. Finally, Scotiabank dropped their price objective on shares of Shell from $90.00 to $80.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $82.00.

Shell Stock Performance

NYSE SHEL opened at $68.36 on Thursday. The stock has a market cap of $212.75 billion, a P/E ratio of 14.07, a PEG ratio of 2.04 and a beta of 0.56. The company has a quick ratio of 1.13, a current ratio of 1.40 and a debt-to-equity ratio of 0.34. Shell plc has a twelve month low of $60.34 and a twelve month high of $74.61. The company’s 50-day simple moving average is $67.81 and its 200 day simple moving average is $70.45.

Shell Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, November 15th will be given a $0.688 dividend. This represents a $2.75 dividend on an annualized basis and a yield of 4.03%. The ex-dividend date of this dividend is Friday, November 15th. Shell’s dividend payout ratio (DPR) is 56.58%.

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.