Neville Rodie & Shaw Inc. Reduces Stock Holdings in Shell plc (NYSE:SHEL)

Neville Rodie & Shaw Inc. lowered its position in shares of Shell plc (NYSE:SHEL) by 14.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 108,425 shares of the energy company’s stock after selling 17,875 shares during the quarter. Neville Rodie & Shaw Inc.’s holdings in Shell were worth $7,151,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Healthcare of Ontario Pension Plan Trust Fund lifted its position in Shell by 721.4% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 116,644 shares of the energy company’s stock valued at $8,419,000 after buying an additional 102,444 shares during the period. Newbridge Financial Services Group Inc. raised its position in shares of Shell by 378.7% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 718 shares of the energy company’s stock worth $52,000 after purchasing an additional 568 shares during the last quarter. Sanctuary Advisors LLC purchased a new position in shares of Shell in the 2nd quarter worth about $10,505,000. Clearbridge Investments LLC raised its position in shares of Shell by 0.7% in the 2nd quarter. Clearbridge Investments LLC now owns 90,242 shares of the energy company’s stock worth $6,514,000 after purchasing an additional 610 shares during the last quarter. Finally, Truist Financial Corp raised its position in shares of Shell by 2.5% in the 2nd quarter. Truist Financial Corp now owns 305,661 shares of the energy company’s stock worth $22,063,000 after purchasing an additional 7,327 shares during the last quarter. Hedge funds and other institutional investors own 28.60% of the company’s stock.

Wall Street Analyst Weigh In

SHEL has been the subject of several recent analyst reports. Argus lifted their price target on Shell from $77.00 to $79.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. Scotiabank reduced their price objective on Shell from $95.00 to $90.00 and set a “sector outperform” rating for the company in a report on Friday, July 12th. Wells Fargo & Company reduced their price objective on Shell from $88.00 to $84.00 and set an “overweight” rating for the company in a report on Friday, September 27th. Wolfe Research began coverage on Shell in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. Finally, Royal Bank of Canada upgraded Shell to a “moderate buy” rating in a report on Tuesday, July 30th. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $83.50.

Shell Price Performance

Shares of Shell stock opened at $67.82 on Thursday. The stock’s fifty day moving average is $70.14 and its 200 day moving average is $70.82. Shell plc has a one year low of $60.34 and a one year high of $74.61. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.12 and a current ratio of 1.41. The stock has a market cap of $214.45 billion, a P/E ratio of 12.51, a P/E/G ratio of 1.53 and a beta of 0.57.

Shell (NYSE:SHEL) last announced its quarterly earnings data on Thursday, August 1st. The energy company reported $1.97 EPS for the quarter, beating 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 the consensus estimate of $88.62 billion. During the same period last year, the firm earned $1.50 EPS. Sell-side analysts anticipate that Shell plc will post 8.44 earnings per share for the current year.

Shell Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Friday, August 16th were issued a dividend of $0.688 per share. This represents a $2.75 dividend on an annualized basis and a yield of 4.06%. The ex-dividend date of this dividend was Friday, August 16th. Shell’s dividend payout ratio (DPR) is currently 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.