Shell plc (NYSE:SHEL) Position Trimmed by Marcum Wealth LLC

Marcum Wealth LLC trimmed its holdings in shares of Shell plc (NYSE:SHEL) by 5.7% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,859 shares of the energy company’s stock after selling 234 shares during the period. Marcum Wealth LLC’s holdings in Shell were worth $254,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Hobbs Group Advisors LLC acquired a new position in Shell in the 2nd quarter worth approximately $26,000. Triad Wealth Partners LLC acquired a new position in Shell in the 2nd quarter worth approximately $31,000. Beaird Harris Wealth Management LLC boosted its stake in Shell by 611.1% in 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 period. Fairscale Capital LLC acquired a new position in Shell in the 2nd quarter worth approximately $33,000. Finally, LRI Investments LLC acquired a new position in Shell in the 1st quarter worth approximately $47,000. 28.60% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on SHEL. Barclays raised shares of Shell to a “strong-buy” rating in a research note on Wednesday, October 2nd. Wolfe Research assumed coverage on shares of Shell in a research report on Thursday, July 18th. They issued a “peer perform” rating for the company. Citigroup upgraded shares of Shell to a “hold” rating in a research report on Wednesday, October 2nd. Wells Fargo & Company increased their target price on shares of Shell from $84.00 to $88.00 and gave the stock an “overweight” rating in a research report on Tuesday. Finally, Royal Bank of Canada upgraded shares of Shell to a “moderate buy” rating in a research report on Tuesday, July 30th. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Shell currently has a consensus rating of “Moderate Buy” and an average price target of $82.00.

Shell Stock Down 0.5 %

Shell stock opened at $68.50 on Friday. The company has a market capitalization of $214.46 billion, a P/E ratio of 12.23, a P/E/G ratio of 1.57 and a beta of 0.56. The firm’s fifty day simple moving average is $69.58 and its 200-day simple moving average is $70.86. The company has a current ratio of 1.41, a quick ratio of 1.12 and a debt-to-equity ratio of 0.35. Shell plc has a 1-year low of $60.34 and a 1-year high of $74.61.

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. The business had revenue of $75.06 billion for the quarter, compared to the consensus estimate of $88.62 billion. Shell had a net margin of 5.97% and a return on equity of 14.56%. During the same quarter last year, the firm earned $1.50 EPS. Sell-side analysts forecast that Shell plc will post 8.44 earnings per share for the current fiscal year.

Shell Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Friday, August 16th were issued a $0.688 dividend. The ex-dividend date was Friday, August 16th. This represents a $2.75 annualized dividend and a yield of 4.02%. Shell’s dividend payout ratio (DPR) is presently 49.11%.

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.