Naviter Wealth LLC Purchases 9,153 Shares of Shell plc (NYSE:SHEL)

Naviter Wealth LLC raised its position in shares of Shell plc (NYSE:SHEL) by 12.9% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 80,288 shares of the energy company’s stock after acquiring an additional 9,153 shares during the period. Shell makes up about 0.9% of Naviter Wealth LLC’s investment portfolio, making the stock its 24th largest position. Naviter Wealth LLC’s holdings in Shell were worth $5,383,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of SHEL. VisionPoint Advisory Group LLC bought a new position in Shell during the 3rd quarter worth about $26,000. Rise Advisors LLC raised its position in shares of Shell by 84.4% in the 4th quarter. Rise Advisors LLC now owns 413 shares of the energy company’s stock valued at $27,000 after purchasing an additional 189 shares during the last quarter. Valley National Advisers Inc. raised its position in shares of Shell by 217.7% in the 4th quarter. Valley National Advisers Inc. now owns 413 shares of the energy company’s stock valued at $27,000 after purchasing an additional 283 shares during the last quarter. Beaird Harris Wealth Management LLC raised its position in shares of Shell by 611.1% in the 4th quarter. Beaird Harris Wealth Management LLC now owns 448 shares of the energy company’s stock valued at $29,000 after purchasing an additional 385 shares during the last quarter. Finally, Fortis Group Advisors LLC purchased a new position in shares of Shell in the 3rd quarter valued at approximately $32,000. Institutional investors own 28.60% of the company’s stock.

Shell Stock Up 0.3 %

Shares of SHEL traded up $0.19 during midday trading on Tuesday, reaching $73.06. The stock had a trading volume of 3,041,796 shares, compared to its average volume of 4,373,382. Shell plc has a 1-year low of $58.14 and a 1-year high of $74.61. The company’s fifty day simple moving average is $71.53 and its two-hundred day simple moving average is $67.71. The company has a market cap of $232.31 billion, a price-to-earnings ratio of 13.48, a PEG ratio of 1.82 and a beta of 0.59. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.42 and a quick ratio of 1.14.

Shell (NYSE:SHEL) last announced its quarterly earnings data on Thursday, May 2nd. The energy company reported $2.38 earnings per share for the quarter, beating analysts’ consensus estimates of $1.87 by $0.51. Shell had a net margin of 5.83% and a return on equity of 13.83%. The business had revenue of $74.70 billion for the quarter, compared to analyst estimates of $88.03 billion. Equities research analysts expect that Shell plc will post 8.55 earnings per share for the current year.

Shell Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 24th. Investors of record on Friday, May 17th were paid a dividend of $0.688 per share. This is a positive change from Shell’s previous quarterly dividend of $0.66. This represents a $2.75 annualized dividend and a yield of 3.77%. The ex-dividend date was Thursday, May 16th. Shell’s dividend payout ratio (DPR) is currently 50.74%.

Analysts Set New Price Targets

A number of research analysts have weighed in on SHEL shares. TD Securities raised their price objective on Shell from $74.00 to $81.00 and gave the company a “buy” rating in a report on Friday, May 3rd. Argus increased their price objective on shares of Shell from $77.00 to $79.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. Finally, Wells Fargo & Company lowered their price objective on shares of Shell from $91.00 to $90.00 and set an “overweight” rating for the company in a research report on Friday, June 21st. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.25.

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.