Wedge Capital Management L L P NC Sells 31,630 Shares of Shell plc (NYSE:SHEL)

Wedge Capital Management L L P NC trimmed its stake in Shell plc (NYSE:SHELFree Report) by 9.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 306,342 shares of the energy company’s stock after selling 31,630 shares during the period. Wedge Capital Management L L P NC’s holdings in Shell were worth $20,203,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of the stock. Hobbs Group Advisors LLC bought a new position in Shell during the 2nd quarter worth about $26,000. Triad Wealth Partners LLC bought a new position in shares of Shell during the second quarter valued at approximately $31,000. Fairscale Capital LLC bought a new position in Shell in the second quarter worth approximately $33,000. LRI Investments LLC purchased a new stake in Shell during the first quarter worth $47,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Shell in the 2nd quarter valued at $49,000. 28.60% of the stock is owned by hedge funds and other institutional investors.

Shell Price Performance

SHEL stock remained flat at $68.49 during midday trading on Monday. 1,277,395 shares of the company traded hands, compared to its average volume of 4,161,030. The company’s fifty day moving average is $69.58 and its two-hundred day moving average is $70.92. The firm has a market capitalization of $216.57 billion, a price-to-earnings ratio of 12.61, a P/E/G ratio of 1.57 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 company has a debt-to-equity ratio of 0.35, a quick ratio of 1.12 and a current ratio of 1.41.

Shell (NYSE:SHELGet Free Report) last announced its earnings results on Thursday, August 1st. The energy company reported $1.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.82 by $0.15. The firm had revenue of $75.06 billion for the quarter, compared to analyst estimates of $88.62 billion. Shell had a return on equity of 14.56% and a net margin of 5.97%. During the same quarter last year, the firm posted $1.50 EPS. On average, research analysts predict that Shell plc will post 8.44 earnings per share for the current 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 paid a dividend of $0.688 per share. The ex-dividend date was Friday, August 16th. This represents a $2.75 annualized dividend and a yield of 4.02%. Shell’s dividend payout ratio (DPR) is presently 50.74%.

Analyst Upgrades and Downgrades

SHEL has been the topic of a number of analyst reports. Wolfe Research began coverage on shares of Shell in a research report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Citigroup upgraded Shell to a “hold” rating in a report on Wednesday, October 2nd. Scotiabank dropped their target price on Shell from $90.00 to $80.00 and set a “sector outperform” rating on the stock in a research note on Thursday. Barclays raised Shell to a “strong-buy” rating in a report on Wednesday, October 2nd. Finally, Berenberg Bank upgraded shares of Shell to a “strong-buy” rating in a report on Monday, August 5th. Three investment analysts have rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $82.00.

Read Our Latest Research Report on Shell

Shell Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Shell (NYSE:SHEL)

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