Hedges Asset Management LLC Acquires 2,500 Shares of Shell plc (NYSE:SHEL)

Hedges Asset Management LLC boosted its holdings in Shell plc (NYSE:SHEL) by 3.6% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 72,350 shares of the energy company’s stock after acquiring an additional 2,500 shares during the quarter. Shell accounts for approximately 3.2% of Hedges Asset Management LLC’s portfolio, making the stock its 3rd largest position. Hedges Asset Management LLC’s holdings in Shell were worth $4,771,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Hobbs Group Advisors LLC bought a new position in shares of Shell during the second quarter worth $26,000. Triad Wealth Partners LLC acquired a new position in Shell in the second quarter valued at about $31,000. Fairscale Capital LLC acquired a new stake in shares of Shell during the second quarter worth about $33,000. GHP Investment Advisors Inc. grew its position in shares of Shell by 40.8% in the 3rd quarter. GHP Investment Advisors Inc. now owns 563 shares of the energy company’s stock valued at $37,000 after purchasing an additional 163 shares during the period. Finally, LRI Investments LLC increased its stake in Shell by 3,856.3% during the 2nd quarter. LRI Investments LLC now owns 633 shares of the energy company’s stock worth $46,000 after purchasing an additional 617 shares in the last quarter. Institutional investors and hedge funds own 28.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on SHEL. Royal Bank of Canada raised shares of Shell to a “moderate buy” rating in a research note on Tuesday, July 30th. Barclays upgraded shares of Shell to a “strong-buy” rating in a report on Wednesday, October 2nd. Wolfe Research initiated coverage on shares of Shell in a research report on Thursday, July 18th. They issued a “peer perform” rating for the company. Sanford C. Bernstein raised shares of Shell to a “strong-buy” rating in a research report on Friday, October 11th. Finally, Scotiabank decreased their price objective on Shell from $90.00 to $80.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $82.00.

Shell Price Performance

Shares of NYSE SHEL opened at $66.85 on Monday. Shell plc has a twelve month low of $60.34 and a twelve month high of $74.61. The company has a market cap of $211.38 billion, a PE ratio of 12.33, a price-to-earnings-growth ratio of 1.85 and a beta of 0.56. The business’s 50 day moving average price is $68.62 and its two-hundred day moving average price is $70.71. The company has a quick ratio of 1.12, a current ratio of 1.41 and a debt-to-equity ratio of 0.35.

Shell (NYSE:SHEL) last released its quarterly earnings data on Thursday, August 1st. The energy company reported $1.97 EPS for the quarter, topping analysts’ consensus estimates of $1.82 by $0.15. The firm had revenue of $75.06 billion during the quarter, compared to analysts’ expectations of $88.62 billion. Shell had a net margin of 5.97% and a return on equity of 14.56%. During the same period in the previous year, the business posted $1.50 earnings per share. On average, analysts predict that Shell plc will post 8.45 EPS for the current year.

Shell Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Friday, August 16th were given a $0.688 dividend. This represents a $2.75 annualized dividend and a dividend yield of 4.12%. The ex-dividend date was Friday, August 16th. Shell’s payout ratio is 50.74%.

About Shell

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.