Shell plc (NYSE:SHEL) Stake Lifted by Aprio Wealth Management LLC

Aprio Wealth Management LLC increased its stake in Shell plc (NYSE:SHEL) by 14.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,965 shares of the energy company’s stock after acquiring an additional 489 shares during the period. Aprio Wealth Management LLC’s holdings in Shell were worth $261,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Lazard Asset Management LLC boosted its holdings in shares of Shell by 21.0% in the first quarter. Lazard Asset Management LLC now owns 44,896 shares of the energy company’s stock valued at $3,009,000 after acquiring an additional 7,779 shares in the last quarter. Creative Planning boosted its holdings in Shell by 11.3% during the second quarter. Creative Planning now owns 292,587 shares of the energy company’s stock worth $21,119,000 after buying an additional 29,677 shares in the last quarter. Raymond James & Associates boosted its holdings 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 in the last quarter. Foresight Global Investors Inc. bought a new stake in Shell during the second quarter worth approximately $1,472,000. Finally, Norden Group LLC boosted its holdings in Shell by 2,843.4% during the first quarter. Norden Group LLC now owns 170,867 shares of the energy company’s stock worth $11,455,000 after buying an additional 165,062 shares in the last quarter. 28.60% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

SHEL has been the subject of a number of research reports. Wells Fargo & Company raised their target price on shares of Shell from $84.00 to $88.00 and gave the stock an “overweight” rating in a report on Tuesday. 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 research note on Friday, July 12th. Wolfe Research started coverage on shares of Shell in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Citigroup raised shares of Shell to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Royal Bank of Canada raised shares of Shell to a “moderate buy” rating in a research note on Tuesday, July 30th. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $84.50.

Shell Stock Down 2.8 %

SHEL stock opened at $68.27 on Wednesday. Shell plc has a 12-month low of $60.34 and a 12-month high of $74.61. The company has a quick ratio of 1.12, a current ratio of 1.41 and a debt-to-equity ratio of 0.35. The company has a market cap of $213.74 billion, a price-to-earnings ratio of 12.60, a PEG ratio of 1.56 and a beta of 0.56. The company has a 50 day moving average of $69.82 and a two-hundred day moving average of $70.89.

Shell (NYSE:SHEL) last released its 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. The company had revenue of $75.06 billion during 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 in the prior year, the firm earned $1.50 EPS. On average, equities analysts anticipate that Shell plc will post 8.44 earnings per share for the current fiscal year.

Shell Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Friday, August 16th were issued a dividend of $0.688 per share. The ex-dividend date was Friday, August 16th. This represents a $2.75 dividend on an annualized basis and a dividend yield of 4.03%. Shell’s dividend payout ratio is currently 50.74%.

About Shell

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.