Greenleaf Trust Has $1.91 Million Position in Shell plc (NYSE:SHEL)

Greenleaf Trust raised its holdings in Shell plc (NYSE:SHEL) by 56.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,946 shares of the energy company’s stock after buying an additional 10,484 shares during the period. Greenleaf Trust’s holdings in Shell were worth $1,909,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Hobbs Group Advisors LLC bought a new position in Shell during the 2nd quarter valued at $26,000. Triad Wealth Partners LLC bought a new position in shares of Shell during the second quarter valued at about $31,000. Fairscale Capital LLC bought a new stake in Shell in the 2nd quarter worth about $33,000. LRI Investments LLC purchased a new stake in Shell in the 1st quarter valued at about $47,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Shell during the 2nd quarter worth approximately $49,000. 28.60% of the stock is currently owned by institutional investors and hedge funds.

Shell Stock Down 0.7 %

Shares of NYSE SHEL opened at $66.53 on Thursday. The company has a quick ratio of 1.12, a current ratio of 1.41 and a debt-to-equity ratio of 0.35. The company has a market cap of $207.05 billion, a P/E ratio of 11.88, a P/E/G ratio of 1.55 and a beta of 0.56. Shell plc has a 52 week low of $60.34 and a 52 week high of $74.61. The business has a 50-day simple moving average of $68.87 and a two-hundred day simple moving average of $70.79.

Shell (NYSE:SHEL) last posted its earnings results on Thursday, August 1st. The energy company reported $1.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.82 by $0.15. The business had revenue of $75.06 billion for 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 prior year, the company posted $1.50 EPS. Research analysts anticipate that Shell plc will post 8.45 earnings per share for the current fiscal year.

Shell Dividend Announcement

The business 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 of this dividend was Friday, August 16th. This represents a $2.75 annualized dividend and a yield of 4.14%. Shell’s payout ratio is presently 49.11%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on SHEL. Barclays raised Shell to a “strong-buy” rating in a research report on Wednesday, October 2nd. Berenberg Bank upgraded Shell to a “strong-buy” rating in a research note on Monday, August 5th. Wolfe Research initiated coverage on shares of Shell in a report on Thursday, July 18th. They set a “peer perform” rating for the company. Royal Bank of Canada upgraded shares of Shell to a “moderate buy” rating in a research note on Tuesday, July 30th. Finally, Citigroup upgraded shares of Shell to a “hold” rating in a research note on Wednesday, October 2nd. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price 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.