Edge Capital Group LLC Has $8.99 Million Stock Position in Shell plc (NYSE:SHEL)

Edge Capital Group LLC boosted its position in shares of Shell plc (NYSE:SHEL) by 2.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 124,542 shares of the energy company’s stock after purchasing an additional 3,096 shares during the period. Edge Capital Group LLC’s holdings in Shell were worth $8,989,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Aveo Capital Partners LLC increased its holdings in shares of Shell by 20.0% in the 4th quarter. Aveo Capital Partners LLC now owns 5,376 shares of the energy company’s stock valued at $354,000 after purchasing an additional 896 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Shell by 37.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 98,706 shares of the energy company’s stock valued at $6,495,000 after buying an additional 26,729 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Shell during the 4th quarter valued at $355,000. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Shell by 9.6% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 163,012 shares of the energy company’s stock valued at $10,726,000 after acquiring an additional 14,326 shares in the last quarter. Finally, Congress Wealth Management LLC DE acquired a new stake in Shell during the fourth quarter valued at $358,000. Hedge funds and other institutional investors own 28.60% of the company’s stock.

Shell Price Performance

Shell stock opened at $68.72 on Friday. The business has a 50 day simple moving average of $70.88 and a 200 day simple moving average of $70.66. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.41 and a quick ratio of 1.12. The company has a market capitalization of $215.15 billion, a PE ratio of 12.68, a price-to-earnings-growth ratio of 1.53 and a beta of 0.57. Shell plc has a one year low of $60.34 and a one year high of $74.61.

Shell (NYSE:SHEL) last issued its earnings results on Thursday, August 1st. The energy company reported $1.97 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $88.62 billion. During the same quarter in the previous year, the company earned $1.50 EPS. On average, sell-side analysts forecast that Shell plc will post 8.64 EPS for the current fiscal year.

Shell Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 23rd. Stockholders of record on Friday, August 16th will be paid a $0.688 dividend. This represents a $2.75 dividend on an annualized basis and a dividend yield of 4.00%. The ex-dividend date of this dividend is Friday, August 16th. Shell’s dividend payout ratio (DPR) is currently 50.74%.

Analyst Ratings Changes

Several brokerages recently commented on SHEL. Berenberg Bank raised Shell to a “strong-buy” rating in a research note on Monday, August 5th. Scotiabank decreased their price objective on shares of Shell from $95.00 to $90.00 and set a “sector outperform” rating for the company in a report on Friday, July 12th. Wolfe Research initiated coverage on Shell in a research report on Thursday, July 18th. They issued a “peer perform” rating for the company. Royal Bank of Canada upgraded Shell to a “moderate buy” rating in a report on Tuesday, July 30th. Finally, Wells Fargo & Company cut their target price on shares of Shell from $91.00 to $90.00 and set an “overweight” rating for the company in a research report on Friday, June 21st. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $85.00.

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.