Shell plc (NYSE:SHEL) Shares Sold by Miracle Mile Advisors LLC

Miracle Mile Advisors LLC reduced its position in shares of Shell plc (NYSE:SHEL) by 2.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,784 shares of the energy company’s stock after selling 383 shares during the period. Miracle Mile Advisors LLC’s holdings in Shell were worth $909,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. United Community Bank grew its position in Shell by 4.4% in the 1st quarter. United Community Bank now owns 3,315 shares of the energy company’s stock valued at $222,000 after acquiring an additional 139 shares in the last quarter. First Horizon Advisors Inc. increased its stake in Shell by 1.3% during the 2nd quarter. First Horizon Advisors Inc. now owns 11,097 shares of the energy company’s stock worth $801,000 after buying an additional 142 shares during the period. Marcum Wealth LLC lifted its holdings in Shell by 3.7% during the 1st quarter. Marcum Wealth LLC now owns 4,223 shares of the energy company’s stock worth $283,000 after buying an additional 150 shares in the last quarter. Lester Murray Antman dba SimplyRich grew its stake in shares of Shell by 0.6% in the first quarter. Lester Murray Antman dba SimplyRich now owns 26,743 shares of the energy company’s stock worth $1,793,000 after acquiring an additional 153 shares in the last quarter. Finally, Sax Wealth Advisors LLC raised its stake in shares of Shell by 4.1% in the second quarter. Sax Wealth Advisors LLC now owns 4,086 shares of the energy company’s stock valued at $295,000 after acquiring an additional 162 shares in the last quarter. 28.60% of the stock is owned by institutional investors and hedge funds.

Shell Trading Down 2.8 %

NYSE SHEL 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 market capitalization of $213.74 billion, a price-to-earnings ratio of 12.60, a price-to-earnings-growth ratio of 1.56 and a beta of 0.56. 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’s fifty day moving average price is $69.82 and its 200 day moving average price is $70.89.

Shell (NYSE:SHEL) last posted 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. The business had revenue of $75.06 billion during 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 period in the previous year, the business earned $1.50 EPS. On average, sell-side analysts expect that Shell plc will post 8.44 earnings per share for the current fiscal year.

Shell Announces Dividend

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. The ex-dividend date of this dividend was Friday, August 16th. This represents a $2.75 annualized dividend and a yield of 4.03%. Shell’s dividend payout ratio (DPR) is 50.74%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on SHEL shares. Wells Fargo & Company upped their price target on Shell from $84.00 to $88.00 and gave the stock an “overweight” rating in a report on Tuesday. Barclays raised shares of Shell to a “strong-buy” rating in a report on Wednesday, October 2nd. Royal Bank of Canada upgraded shares of Shell to a “moderate buy” rating in a report on Tuesday, July 30th. 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 report on Friday, July 12th. Finally, Wolfe Research began coverage on Shell in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Three analysts have rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $84.50.

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.