Miracle Mile Advisors LLC Boosts Position in Shell plc (NYSE:SHEL)

Miracle Mile Advisors LLC lifted its holdings in shares of Shell plc (NYSE:SHEL) by 62.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,439 shares of the energy company’s stock after purchasing an additional 8,655 shares during the quarter. Miracle Mile Advisors LLC’s holdings in Shell were worth $1,406,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Fortitude Family Office LLC purchased a new position in shares of Shell during the third quarter worth about $30,000. Fairscale Capital LLC purchased a new position in shares of Shell during the second quarter worth about $33,000. Valley Wealth Managers Inc. purchased a new position in shares of Shell during the third quarter worth about $33,000. Brooklyn Investment Group bought a new stake in Shell in the 3rd quarter worth approximately $35,000. Finally, GHP Investment Advisors Inc. lifted its position 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 buying an additional 163 shares during the last quarter. Hedge funds and other institutional investors own 28.60% of the company’s stock.

Shell Price Performance

SHEL opened at $66.01 on Wednesday. The stock has a fifty day simple moving average of $64.28 and a two-hundred day simple moving average of $67.92. The company has a current ratio of 1.40, a quick ratio of 1.13 and a debt-to-equity ratio of 0.34. The company has a market cap of $203.13 billion, a price-to-earnings ratio of 13.58, a price-to-earnings-growth ratio of 4.84 and a beta of 0.55. Shell plc has a 12-month low of $60.15 and a 12-month high of $74.61.

Shell Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Friday, November 15th were issued a $0.688 dividend. The ex-dividend date was Friday, November 15th. This represents a $2.75 dividend on an annualized basis and a yield of 4.17%. Shell’s dividend payout ratio (DPR) is 56.58%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Citigroup upgraded Shell to a “hold” rating in a research report on Wednesday, October 2nd. Morgan Stanley upgraded Shell from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $66.50 to $79.80 in a research report on Tuesday, January 7th. Wolfe Research upgraded Shell from a “peer perform” rating to an “outperform” rating and set a $80.00 price objective for the company in a research report on Friday, January 3rd. Sanford C. Bernstein upgraded Shell to a “strong-buy” rating in a research report on Friday, October 11th. Finally, Wells Fargo & Company lowered their price objective on Shell from $87.00 to $86.00 and set an “overweight” rating for the company in a research report on Friday, January 10th. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $79.69.

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.