Ritholtz Wealth Management Acquires 9,585 Shares of Shell plc (NYSE:SHEL)

Ritholtz Wealth Management lifted its stake in shares of Shell plc (NYSE:SHEL) by 12.8% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 84,224 shares of the energy company’s stock after acquiring an additional 9,585 shares during the period. Ritholtz Wealth Management’s holdings in Shell were worth $5,555,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. United Community Bank lifted its holdings in shares of Shell by 4.4% in the first quarter. United Community Bank now owns 3,315 shares of the energy company’s stock valued at $222,000 after purchasing an additional 139 shares in the last quarter. First Horizon Advisors Inc. grew its position in Shell by 1.3% in the 2nd quarter. First Horizon Advisors Inc. now owns 11,097 shares of the energy company’s stock worth $801,000 after purchasing an additional 142 shares in the last quarter. Marcum Wealth LLC lifted its position in shares of 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 holdings 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 valued at $1,793,000 after acquiring an additional 153 shares in the last quarter. Finally, Sax Wealth Advisors LLC increased its position in shares of Shell by 4.1% during 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 during the last quarter. Institutional investors and hedge funds own 28.60% of the company’s stock.

Shell Price Performance

Shares of SHEL traded down $0.35 during midday trading on Friday, hitting $68.49. 2,992,024 shares of the company traded hands, compared to its average volume of 4,175,285. The stock has a 50-day moving average of $69.58 and a 200-day moving average of $70.86. 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 has a market cap of $214.43 billion, a P/E ratio of 12.23, a PEG ratio of 1.57 and a beta of 0.56. Shell plc has a one year low of $60.34 and a one year high of $74.61.

Shell (NYSE:SHEL) last released its quarterly earnings results on Thursday, August 1st. The energy company reported $1.97 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $88.62 billion. During the same quarter in the prior year, the firm posted $1.50 earnings per share. As a group, sell-side analysts predict that Shell plc will post 8.44 EPS for the current fiscal year.

Shell Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Friday, August 16th were paid a $0.688 dividend. This represents a $2.75 dividend on an annualized basis and a yield of 4.02%. The ex-dividend date of this dividend was Friday, August 16th. Shell’s dividend payout ratio is currently 49.11%.

Wall Street Analysts Forecast Growth

SHEL has been the topic of a number of recent analyst reports. Wells Fargo & Company lifted their target price on Shell from $84.00 to $88.00 and gave the stock an “overweight” rating in a research note on Tuesday. Berenberg Bank raised shares of Shell to a “strong-buy” rating in a research report on Monday, August 5th. Wolfe Research initiated coverage on Shell in a report on Thursday, July 18th. They set a “peer perform” rating for the company. Royal Bank of Canada upgraded Shell to a “moderate buy” rating in a research note on Tuesday, July 30th. Finally, Citigroup raised Shell to a “hold” rating in a report on Wednesday, October 2nd. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Shell has an average rating of “Moderate Buy” and an average price target of $82.00.

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.