Axxcess Wealth Management LLC Has $600,000 Position in Shell plc (NYSE:SHEL)

Axxcess Wealth Management LLC trimmed its holdings in shares of Shell plc (NYSE:SHEL) by 8.7% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,308 shares of the energy company’s stock after selling 793 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Shell were worth $600,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Team Hewins LLC acquired a new stake in shares of Shell during the fourth quarter worth $769,000. Lazard Asset Management LLC raised its stake in shares of Shell by 21.0% in the 1st quarter. Lazard Asset Management LLC now owns 44,896 shares of the energy company’s stock valued at $3,009,000 after purchasing an additional 7,779 shares during the period. Raymond James & Associates boosted its position in shares of Shell by 65.7% during the second quarter. Raymond James & Associates now owns 1,698,247 shares of the energy company’s stock worth $122,579,000 after buying an additional 673,624 shares during the period. Cantor Fitzgerald Investment Advisors L.P. bought a new position in shares of Shell during the fourth quarter worth about $22,628,000. Finally, Pingora Partners LLC bought a new stake in Shell in the 4th quarter valued at approximately $1,306,000. Institutional investors own 28.60% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on SHEL. Royal Bank of Canada raised shares of Shell to a “moderate buy” rating in a research note on Tuesday, July 30th. Scotiabank cut their price target on shares of Shell from $95.00 to $90.00 and set a “sector outperform” rating on the stock in a research report on Friday, July 12th. Berenberg Bank upgraded Shell to a “strong-buy” rating in a report on Monday, August 5th. Wells Fargo & Company reduced their price target on Shell from $91.00 to $90.00 and set an “overweight” rating for the company in a research report on Friday, June 21st. Finally, Wolfe Research initiated coverage on Shell in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Shell currently has a consensus rating of “Moderate Buy” and a consensus target price of $85.00.

Shell Stock Performance

SHEL opened at $69.20 on Friday. 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 12-month low of $60.34 and a 12-month high of $74.61. The business has a 50 day moving average of $70.97 and a 200-day moving average of $70.56. The stock has a market cap of $218.80 billion, a price-to-earnings ratio of 12.77, a PEG ratio of 1.51 and a beta of 0.57.

Shell (NYSE:SHEL) last released its quarterly earnings data on Thursday, August 1st. The energy company reported $1.97 EPS for the quarter, topping analysts’ consensus estimates of $1.82 by $0.15. The firm 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 in the previous year, the business posted $1.50 earnings per share. On average, equities research analysts expect that Shell plc will post 8.61 earnings per share for the current year.

Shell Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 23rd. Shareholders of record on Friday, August 16th will be given a dividend of $0.688 per share. The ex-dividend date is Friday, August 16th. This represents a $2.75 annualized dividend and a yield of 3.98%. Shell’s dividend payout ratio (DPR) is presently 50.74%.

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.