Shell plc (NYSE:SHEL) Shares Sold by Sunbelt Securities Inc.

Sunbelt Securities Inc. lowered its stake in shares of Shell plc (NYSE:SHEL) by 3.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,832 shares of the energy company’s stock after selling 562 shares during the quarter. Sunbelt Securities Inc.’s holdings in Shell were worth $998,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in SHEL. Hobbs Group Advisors LLC bought a new position in shares of Shell during the second quarter worth about $26,000. Triad Wealth Partners LLC bought a new position in Shell in the 2nd quarter worth about $31,000. Beaird Harris Wealth Management LLC raised its holdings in shares of Shell by 611.1% during the fourth quarter. Beaird Harris Wealth Management LLC now owns 448 shares of the energy company’s stock valued at $29,000 after buying an additional 385 shares during the last quarter. Fairscale Capital LLC acquired a new position in shares of Shell during the second quarter worth approximately $33,000. Finally, LRI Investments LLC bought a new position in Shell in the 1st quarter worth approximately $47,000. 28.60% of the stock is owned by institutional investors and hedge funds.

Shell Stock Down 0.2 %

SHEL stock opened at $65.98 on Tuesday. 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 firm has a market cap of $206.57 billion, a PE ratio of 12.17, a P/E/G ratio of 1.60 and a beta of 0.57. Shell plc has a 12 month low of $60.34 and a 12 month high of $74.61. The firm has a 50 day simple moving average of $70.35 and a 200 day simple moving average of $70.81.

Shell (NYSE:SHEL) last issued 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. 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 analysts’ expectations of $88.62 billion. During the same period in the previous year, the firm posted $1.50 EPS. Equities research analysts forecast that Shell plc will post 8.44 earnings per share for the current fiscal year.

Shell Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Friday, August 16th were issued a $0.688 dividend. This represents a $2.75 annualized dividend and a dividend yield of 4.17%. The ex-dividend date of this dividend was Friday, August 16th. Shell’s payout ratio is 50.74%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on SHEL. Wolfe Research initiated coverage on Shell in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. Berenberg Bank upgraded shares of Shell to a “strong-buy” rating in a research report on Monday, August 5th. Wells Fargo & Company dropped their price target on shares of Shell from $88.00 to $84.00 and set an “overweight” rating on the stock in a research report on Friday. Scotiabank lowered their price objective on shares of Shell from $95.00 to $90.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 12th. Finally, Royal Bank of Canada upgraded Shell to a “moderate buy” rating in a research report on Tuesday, July 30th. Two research 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 company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $83.50.

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.