Wesbanco Bank Inc. Reduces Stake in Shell plc (NYSE:SHEL)

Wesbanco Bank Inc. trimmed its stake in Shell plc (NYSE:SHEL) by 1.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,137 shares of the energy company’s stock after selling 417 shares during the period. Wesbanco Bank Inc.’s holdings in Shell were worth $1,460,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Hobbs Group Advisors LLC purchased a new stake in shares of Shell in the second quarter valued at $26,000. Triad Wealth Partners LLC purchased a new stake in Shell in the 2nd quarter worth about $31,000. Fairscale Capital LLC purchased a new position in shares of Shell during the second quarter valued at approximately $33,000. LRI Investments LLC bought a new position in shares of Shell during the first quarter valued at approximately $47,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Shell during the 2nd quarter worth approximately $49,000. Institutional investors own 28.60% of the company’s stock.

Shell Trading Down 3.4 %

SHEL opened at $66.08 on Wednesday. Shell plc has a 12 month low of $60.34 and a 12 month high of $74.61. The stock has a fifty day moving average price of $69.47 and a 200-day moving average price of $70.92. The firm has a market cap of $208.95 billion, a price-to-earnings ratio of 12.19, a PEG ratio of 1.57 and a beta of 0.56. The company has a current ratio of 1.41, a quick ratio of 1.12 and a debt-to-equity ratio of 0.35.

Shell (NYSE:SHEL) last issued its quarterly earnings data 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. 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 the consensus estimate of $88.62 billion. During the same quarter in the previous year, the firm earned $1.50 EPS. As a group, equities research analysts anticipate that Shell plc will post 8.44 earnings per share for the current fiscal year.

Shell Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Friday, August 16th were given a $0.688 dividend. The ex-dividend date was Friday, August 16th. This represents a $2.75 dividend on an annualized basis and a dividend yield of 4.16%. Shell’s payout ratio is 50.74%.

Wall Street Analysts Forecast Growth

SHEL has been the topic of a number of recent analyst reports. Royal Bank of Canada upgraded Shell to a “moderate buy” rating in a research note on Tuesday, July 30th. Wells Fargo & Company lifted their price objective 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 shares of Shell to a “strong-buy” rating in a research note on Monday, August 5th. Citigroup upgraded Shell to a “hold” rating in a report on Wednesday, October 2nd. Finally, Scotiabank reduced their price objective on Shell from $90.00 to $80.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Three equities 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’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $82.00.

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.