Global Retirement Partners LLC Sells 2,436 Shares of Shell plc (NYSE:SHEL)

Global Retirement Partners LLC reduced its stake in Shell plc (NYSE:SHEL) by 24.5% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,508 shares of the energy company’s stock after selling 2,436 shares during the period. Global Retirement Partners LLC’s holdings in Shell were worth $495,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Hobbs Group Advisors LLC bought a new position in shares of Shell in the 2nd quarter worth $26,000. Triad Wealth Partners LLC bought a new position in Shell during the second quarter worth about $31,000. Fairscale Capital LLC bought a new position in Shell during the second quarter worth about $33,000. LRI Investments LLC bought a new position in Shell during the first quarter worth about $47,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Shell during the second quarter worth about $49,000. 28.60% of the stock is currently owned by institutional investors.

Shell Price Performance

NYSE:SHEL opened at $67.05 on Tuesday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.12 and a current ratio of 1.41. The stock’s 50-day simple moving average is $69.11 and its 200 day simple moving average is $70.85. The company has a market cap of $212.02 billion, a P/E ratio of 12.37, a P/E/G ratio of 1.58 and a beta of 0.56. Shell plc has a 52-week low of $60.34 and a 52-week high of $74.61.

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, beating analysts’ consensus estimates of $1.82 by $0.15. Shell had a return on equity of 14.56% and a net margin of 5.97%. The business 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 business earned $1.50 earnings per share. As a group, sell-side analysts forecast that Shell plc will post 8.44 EPS for the current fiscal year.

Shell Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Friday, August 16th were issued a dividend of $0.688 per share. This represents a $2.75 dividend on an annualized basis and a yield of 4.10%. The ex-dividend date was Friday, August 16th. Shell’s payout ratio is currently 50.74%.

Analyst Ratings Changes

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

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.