45,118 Shares in Shell plc (NYSE:SHEL) Bought by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC bought a new stake in Shell plc (NYSE:SHEL) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 45,118 shares of the energy company’s stock, valued at approximately $3,257,000.

Several other institutional investors have also recently made changes to their positions in the company. Hobbs Group Advisors LLC bought a new stake in Shell in the second quarter worth about $26,000. Triad Wealth Partners LLC bought a new stake in shares of Shell during the 2nd quarter worth approximately $31,000. Beaird Harris Wealth Management LLC boosted its holdings in Shell by 611.1% during the 4th quarter. Beaird Harris Wealth Management LLC now owns 448 shares of the energy company’s stock valued at $29,000 after acquiring an additional 385 shares during the period. LRI Investments LLC purchased a new stake in Shell in the first quarter worth $47,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Shell during the second quarter worth $49,000. Institutional investors own 28.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on SHEL. Wells Fargo & Company reduced their price target on shares of Shell from $91.00 to $90.00 and set an “overweight” rating on the stock in a research note on Friday, June 21st. Royal Bank of Canada raised shares of Shell to a “moderate buy” rating in a research note on Tuesday, July 30th. Argus increased their price objective on Shell from $77.00 to $79.00 and gave the stock a “buy” rating in a research note on Thursday, June 6th. Scotiabank lowered their target price on Shell from $95.00 to $90.00 and set a “sector outperform” rating for the company in a report on Friday, July 12th. Finally, Berenberg Bank upgraded Shell to a “strong-buy” rating in a research note on Monday, August 5th. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $85.00.

Shell Stock Down 0.7 %

Shell stock opened at $68.72 on Friday. Shell plc has a twelve month low of $60.34 and a twelve month high of $74.61. The business has a fifty day moving average of $70.88 and a two-hundred day moving average of $70.66. The firm has a market cap of $215.15 billion, a P/E ratio of 12.68, a P/E/G ratio of 1.53 and a beta of 0.57. The company has a quick ratio of 1.12, a current ratio of 1.41 and a debt-to-equity ratio of 0.35.

Shell (NYSE:SHEL) last issued its quarterly earnings data 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 company had revenue of $75.06 billion for the quarter, compared to the consensus estimate of $88.62 billion. Shell had a return on equity of 14.56% and a net margin of 5.97%. During the same quarter last year, the company earned $1.50 earnings per share. On average, analysts forecast that Shell plc will post 8.64 earnings per share for the current fiscal year.

Shell Announces Dividend

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

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.