Envestnet Portfolio Solutions Inc. Buys 4,361 Shares of Shell plc (NYSE:SHEL)

Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Shell plc (NYSE:SHEL) by 9.0% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 52,704 shares of the energy company’s stock after acquiring an additional 4,361 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Shell were worth $3,804,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Beaird Harris Wealth Management LLC increased its holdings in shares of Shell by 611.1% during the 4th quarter. Beaird Harris Wealth Management LLC now owns 448 shares of the energy company’s stock worth $29,000 after buying an additional 385 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Shell by 90.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 495 shares of the energy company’s stock worth $33,000 after purchasing an additional 235 shares during the last quarter. LRI Investments LLC bought a new stake in shares of Shell during the 1st quarter worth $47,000. Fairman Group LLC bought a new stake in Shell in the fourth quarter valued at approximately $45,000. Finally, Key Financial Inc boosted its position in shares of Shell by 63.7% during the fourth quarter. Key Financial Inc now owns 789 shares of the energy company’s stock valued at $52,000 after buying an additional 307 shares during the last quarter. Institutional investors own 28.60% of the company’s stock.

Shell Stock Up 0.5 %

Shares of NYSE SHEL traded up $0.40 during mid-day trading on Thursday, hitting $73.32. The company had a trading volume of 1,692,957 shares, compared to its average volume of 4,160,631. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.41 and a quick ratio of 1.12. Shell plc has a 1-year low of $60.13 and a 1-year high of $74.61. The business’s 50-day simple moving average is $71.62 and its 200 day simple moving average is $69.44. The company has a market capitalization of $230.69 billion, a PE ratio of 13.46, a price-to-earnings-growth ratio of 1.59 and a beta of 0.59.

Shell (NYSE:SHEL) last posted its quarterly earnings data on Thursday, August 1st. The energy company reported $1.97 earnings per share (EPS) 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 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 last year, the firm posted $1.50 earnings per share. On average, analysts predict that Shell plc will post 8.63 earnings per share for the current year.

Shell Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 23rd. Investors of record on Friday, August 16th will be given a dividend of $0.688 per share. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.75 dividend on an annualized basis and a dividend yield of 3.75%. Shell’s payout ratio is presently 50.74%.

Analyst Ratings Changes

SHEL has been the topic of several recent analyst reports. Wells Fargo & Company dropped their target price on Shell from $91.00 to $90.00 and set an “overweight” rating on the stock in a research report on Friday, June 21st. Royal Bank of Canada raised shares of Shell to a “moderate buy” rating in a report on Tuesday, July 30th. 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 report on Friday, July 12th. Berenberg Bank upgraded shares of Shell to a “strong-buy” rating in a report on Monday, August 5th. Finally, Wolfe Research assumed coverage on Shell in a report on Thursday, July 18th. They set a “peer perform” rating on the stock. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $85.00.

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.