Gateway Wealth Partners LLC Has $311,000 Stock Holdings in Shell plc (NYSE:SHEL)

Gateway Wealth Partners LLC cut its stake in Shell plc (NYSE:SHEL) by 7.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,310 shares of the energy company’s stock after selling 349 shares during the quarter. Gateway Wealth Partners LLC’s holdings in Shell were worth $311,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of SHEL. Empyrean Capital Partners LP acquired a new position in Shell during the second quarter worth $151,578,000. Mondrian Investment Partners LTD increased its position in Shell by 83.2% during the first quarter. Mondrian Investment Partners LTD now owns 2,187,872 shares of the energy company’s stock worth $146,675,000 after buying an additional 993,342 shares during the last quarter. CIBC Private Wealth Group LLC increased its position in Shell by 130.7% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,400,186 shares of the energy company’s stock worth $92,132,000 after buying an additional 793,136 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Shell by 13.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,715,078 shares of the energy company’s stock worth $450,180,000 after buying an additional 772,736 shares during the last quarter. Finally, Raymond James & Associates increased its position 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 during the last quarter. 28.60% of the stock is owned by institutional investors and hedge funds.

Shell Stock Down 0.2 %

NYSE SHEL opened at $65.98 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 firm has a 50-day simple moving average of $70.35 and a 200 day simple moving average of $70.81. Shell plc has a twelve month low of $60.34 and a twelve month high of $74.61. The stock has a market cap of $206.57 billion, a PE ratio of 12.17, a PEG ratio of 1.60 and a beta of 0.57.

Shell (NYSE:SHEL) last released its earnings results on Thursday, August 1st. The energy company reported $1.97 earnings per share 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 business had revenue of $75.06 billion during the quarter, compared to analysts’ expectations of $88.62 billion. During the same quarter last year, the company earned $1.50 earnings per share. On average, research analysts forecast that Shell plc will post 8.44 EPS for the current 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 given a $0.688 dividend. This represents a $2.75 annualized dividend and a yield of 4.17%. The ex-dividend date was Friday, August 16th. Shell’s dividend payout ratio (DPR) is presently 50.74%.

Wall Street Analyst Weigh In

SHEL has been the topic of several analyst reports. Royal Bank of Canada raised shares of Shell to a “moderate buy” rating in a research report on Tuesday, July 30th. Berenberg Bank upgraded shares of Shell to a “strong-buy” rating in a report on Monday, August 5th. Scotiabank decreased their price target 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 started coverage on shares of Shell in a report on Thursday, July 18th. They set a “peer perform” rating for the company. Finally, Wells Fargo & Company decreased their price target on shares of Shell from $88.00 to $84.00 and set an “overweight” rating for the company in a report on Friday. Two investment 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 company. Based on data from MarketBeat.com, Shell presently has an average rating of “Moderate Buy” and a consensus price target of $83.50.

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.