Great Diamond Partners LLC Cuts Stock Holdings in Shell plc (NYSE:SHEL)

Great Diamond Partners LLC cut its holdings in Shell plc (NYSE:SHEL) by 14.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,228 shares of the energy company’s stock after selling 1,766 shares during the quarter. Great Diamond Partners LLC’s holdings in Shell were worth $675,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of SHEL. Diversified Trust Co grew its holdings in shares of Shell by 34.8% during the first quarter. Diversified Trust Co now owns 11,992 shares of the energy company’s stock worth $804,000 after buying an additional 3,093 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Shell by 1,293.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 6,898 shares of the energy company’s stock worth $462,000 after purchasing an additional 6,403 shares during the period. Norden Group LLC grew its position in shares of Shell by 2,843.4% in the first quarter. Norden Group LLC now owns 170,867 shares of the energy company’s stock valued at $11,455,000 after purchasing an additional 165,062 shares during the period. Willis Johnson & Associates Inc. lifted its position in Shell by 9.8% during the first quarter. Willis Johnson & Associates Inc. now owns 222,733 shares of the energy company’s stock worth $14,932,000 after buying an additional 19,931 shares during the period. Finally, Everett Harris & Co. CA grew its holdings in Shell by 24.1% in the 1st quarter. Everett Harris & Co. CA now owns 168,701 shares of the energy company’s stock valued at $11,310,000 after buying an additional 32,763 shares during the period. Hedge funds and other institutional investors own 28.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on SHEL. Wells Fargo & Company boosted their target price on shares of Shell from $84.00 to $88.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Berenberg Bank upgraded Shell to a “strong-buy” rating in a report on Monday, August 5th. Scotiabank lowered their price target on Shell from $90.00 to $80.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Sanford C. Bernstein upgraded Shell to a “strong-buy” rating in a report on Friday, October 11th. Finally, Citigroup raised shares of Shell to a “hold” rating in a research report on Wednesday, October 2nd. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $82.00.

Shell Price Performance

SHEL opened at $65.31 on Wednesday. Shell plc has a twelve month low of $60.34 and a twelve month high of $74.61. The company has a current ratio of 1.41, a quick ratio of 1.12 and a debt-to-equity ratio of 0.35. The firm has a market cap of $203.25 billion, a price-to-earnings ratio of 12.05, a PEG ratio of 1.84 and a beta of 0.56. The company has a fifty day simple moving average of $68.49 and a 200 day simple moving average of $70.66.

Shell (NYSE:SHEL) last announced its earnings results on Thursday, August 1st. The energy company reported $1.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.82 by $0.15. The business had revenue of $75.06 billion for the quarter, compared to analyst estimates of $88.62 billion. Shell had a return on equity of 14.56% and a net margin of 5.97%. During the same period in the previous year, the company earned $1.50 earnings per share. Equities research analysts expect that Shell plc will post 8.45 EPS for the current fiscal year.

Shell Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Friday, August 16th were paid a $0.688 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $2.75 dividend on an annualized basis and a dividend yield of 4.21%. Shell’s dividend payout ratio (DPR) is presently 50.74%.

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.