Sweeney & Michel LLC Reduces Stake in Shell plc (NYSE:SHEL)

Sweeney & Michel LLC reduced its position in Shell plc (NYSE:SHEL) by 64.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,545 shares of the energy company’s stock after selling 29,393 shares during the period. Sweeney & Michel LLC’s holdings in Shell were worth $1,109,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. U S Global Investors Inc. purchased a new position in Shell during the third quarter valued at $660,000. Foundations Investment Advisors LLC lifted its position in Shell by 18.3% during the third quarter. Foundations Investment Advisors LLC now owns 4,142 shares of the energy company’s stock valued at $273,000 after purchasing an additional 641 shares in the last quarter. Ledyard National Bank lifted its position in Shell by 12.6% during the third quarter. Ledyard National Bank now owns 6,138 shares of the energy company’s stock valued at $405,000 after purchasing an additional 686 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised its holdings in Shell by 1.9% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 22,468 shares of the energy company’s stock valued at $1,482,000 after acquiring an additional 416 shares during the period. Finally, Whittier Trust Co. raised its holdings in Shell by 3.8% during the third quarter. Whittier Trust Co. now owns 21,851 shares of the energy company’s stock valued at $1,441,000 after acquiring an additional 791 shares during the period. 28.60% of the stock is currently owned by hedge funds and other institutional investors.

Shell Trading Up 0.1 %

NYSE SHEL traded up $0.05 during trading hours on Tuesday, hitting $67.10. 456,008 shares of the company were exchanged, compared to its average volume of 4,139,148. The stock has a 50-day moving average price of $69.11 and a 200 day moving average price of $70.85. 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 plc has a 52 week low of $60.34 and a 52 week high of $74.61. The stock has a market cap of $208.82 billion, a PE ratio of 11.97, a price-to-earnings-growth ratio of 1.55 and a beta of 0.56.

Shell (NYSE:SHEL) last issued its quarterly earnings data 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 return on equity of 14.56% and a net margin of 5.97%. The company had revenue of $75.06 billion for the quarter, compared to analysts’ expectations of $88.62 billion. During the same period in the previous year, the firm posted $1.50 earnings per share. Analysts forecast that Shell plc will post 8.45 earnings per share for the current fiscal year.

Shell Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Friday, August 16th were given a dividend of $0.688 per share. The ex-dividend date was Friday, August 16th. This represents a $2.75 annualized dividend and a dividend yield of 4.10%. Shell’s dividend payout ratio (DPR) is presently 49.11%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on SHEL shares. Scotiabank decreased their price target on Shell from $90.00 to $80.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Citigroup raised Shell to a “hold” rating in a report on Wednesday, October 2nd. Berenberg Bank raised Shell to a “strong-buy” rating in a report on Monday, August 5th. Royal Bank of Canada raised Shell to a “moderate buy” rating in a report on Tuesday, July 30th. Finally, Wells Fargo & Company lifted their target price on Shell from $84.00 to $88.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Three investment 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 company. According to data from MarketBeat, Shell currently has a consensus rating of “Buy” and an average price target of $82.00.

Shell Company 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.