Legacy Capital Wealth Partners LLC Takes $531,000 Position in Shell plc (NYSE:SHEL)

Legacy Capital Wealth Partners LLC bought a new position in shares of Shell plc (NYSE:SHEL) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 7,352 shares of the energy company’s stock, valued at approximately $531,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Aveo Capital Partners LLC raised its holdings in shares of Shell by 20.0% during the fourth quarter. Aveo Capital Partners LLC now owns 5,376 shares of the energy company’s stock valued at $354,000 after purchasing an additional 896 shares during the period. Benjamin F. Edwards & Company Inc. boosted its holdings in Shell by 19.8% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 9,936 shares of the energy company’s stock worth $653,000 after acquiring an additional 1,645 shares in the last quarter. Axxcess Wealth Management LLC acquired a new stake in Shell in the fourth quarter valued at approximately $593,000. National Bank of Canada FI raised its position in shares of Shell by 49.8% during the fourth quarter. National Bank of Canada FI now owns 152,785 shares of the energy company’s stock worth $10,065,000 after purchasing an additional 50,793 shares during the period. Finally, Summit Trail Advisors LLC lifted its holdings in shares of Shell by 19.1% in the 4th quarter. Summit Trail Advisors LLC now owns 3,752 shares of the energy company’s stock worth $247,000 after purchasing an additional 601 shares in the last quarter. 28.60% of the stock is owned by institutional investors and hedge funds.

Shell Price Performance

SHEL opened at $69.40 on Wednesday. Shell plc has a fifty-two week low of $60.34 and a fifty-two week high of $74.61. The firm has a 50-day moving average of $72.17 and a 200 day moving average of $70.32. 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 market cap of $218.36 billion, a P/E ratio of 12.80, a PEG ratio of 1.59 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 analysts’ consensus estimates of $1.82 by $0.15. Shell had a net margin of 5.97% and a return on equity of 14.56%. The firm had revenue of $75.06 billion during the quarter, compared to the consensus estimate of $88.62 billion. During the same period in the prior year, the firm earned $1.50 EPS. On average, research analysts expect that Shell plc will post 8.58 EPS for the current year.

Shell Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 23rd. Investors of record on Friday, August 16th will be issued a $0.688 dividend. This represents a $2.75 annualized dividend and a yield of 3.97%. The ex-dividend date is Friday, August 16th. Shell’s dividend payout ratio (DPR) is currently 50.74%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on SHEL shares. Berenberg Bank upgraded shares of Shell to a “strong-buy” rating in a report on Monday, August 5th. Royal Bank of Canada raised shares of Shell to a “moderate buy” rating in a research report on Tuesday, July 30th. Argus boosted their price objective on Shell from $77.00 to $79.00 and gave the stock a “buy” rating in a report on Thursday, June 6th. Wells Fargo & Company dropped their price target on shares of Shell from $91.00 to $90.00 and set an “overweight” rating on the stock in a research report on Friday, June 21st. Finally, Wolfe Research initiated coverage on shares of Shell in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. 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, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $85.00.

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.