Naviter Wealth LLC Has $5.44 Million Holdings in Shell plc (NYSE:SHEL)

Naviter Wealth LLC boosted its stake in Shell plc (NYSE:SHEL) by 0.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 82,503 shares of the energy company’s stock after purchasing an additional 501 shares during the quarter. Shell comprises 0.8% of Naviter Wealth LLC’s investment portfolio, making the stock its 29th biggest position. Naviter Wealth LLC’s holdings in Shell were worth $5,441,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Probity Advisors Inc. raised its stake in Shell by 3.7% during the third quarter. Probity Advisors Inc. now owns 6,409 shares of the energy company’s stock worth $423,000 after acquiring an additional 226 shares in the last quarter. Roberts Wealth Advisors LLC raised its stake in Shell by 1.2% during the third quarter. Roberts Wealth Advisors LLC now owns 27,841 shares of the energy company’s stock worth $1,901,000 after acquiring an additional 341 shares in the last quarter. Jamison Private Wealth Management Inc. raised its stake in Shell by 11.3% during the third quarter. Jamison Private Wealth Management Inc. now owns 3,611 shares of the energy company’s stock worth $238,000 after acquiring an additional 368 shares in the last quarter. Foster Victor Wealth Advisors LLC raised its stake in Shell by 5.5% during the third quarter. Foster Victor Wealth Advisors LLC now owns 4,380 shares of the energy company’s stock worth $299,000 after acquiring an additional 230 shares in the last quarter. Finally, Regatta Capital Group LLC raised its stake in Shell by 1.9% during the third quarter. Regatta Capital Group LLC now owns 27,752 shares of the energy company’s stock worth $1,830,000 after acquiring an additional 521 shares in the last quarter. Institutional investors and hedge funds own 28.60% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SHEL. Berenberg Bank upgraded shares of Shell to a “strong-buy” rating in a report on Monday, August 5th. Sanford C. Bernstein upgraded shares of Shell to a “strong-buy” rating in a report on Friday, October 11th. Barclays upgraded shares of Shell to a “strong-buy” rating in a report on Wednesday, October 2nd. Royal Bank of Canada upgraded shares of Shell to a “moderate buy” rating in a report on Tuesday, July 30th. Finally, Wells Fargo & Company raised their price target on shares of Shell from $84.00 to $88.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $82.00.

Shell Price Performance

Shares of SHEL traded up $0.50 during midday trading on Thursday, hitting $67.14. 576,546 shares of the company traded hands, compared to its average volume of 4,152,546. The stock has a 50-day moving average of $69.39 and a 200-day moving average of $70.89. Shell plc has a one year low of $60.34 and a one year high of $74.61. The firm has a market cap of $212.30 billion, a P/E ratio of 12.30, a PEG ratio of 1.57 and a beta of 0.56. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.41 and a quick ratio of 1.12.

Shell (NYSE:SHEL) last announced its quarterly earnings results on Thursday, August 1st. The energy company reported $1.97 earnings per share for the quarter, beating 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 firm had revenue of $75.06 billion for the quarter, compared to analysts’ expectations of $88.62 billion. During the same period in the prior year, the business posted $1.50 earnings per share. As a group, sell-side analysts predict that Shell plc will post 8.44 EPS 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 issued a dividend of $0.688 per share. This represents a $2.75 annualized dividend and a dividend yield of 4.10%. The ex-dividend date of this dividend was Friday, August 16th. Shell’s payout ratio is 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.