TrinityPoint Wealth LLC Grows Stake in Shell plc (NYSE:SHEL)

TrinityPoint Wealth LLC lifted its position in shares of Shell plc (NYSE:SHEL) by 3.2% during the third quarter, Holdings Channel.com reports. The institutional investor owned 11,361 shares of the energy company’s stock after acquiring an additional 353 shares during the quarter. TrinityPoint Wealth LLC’s holdings in Shell were worth $749,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Hobbs Group Advisors LLC acquired a new stake in Shell during the 2nd quarter worth about $26,000. Fortitude Family Office LLC purchased a new position in Shell during the third quarter valued at approximately $30,000. Triad Wealth Partners LLC acquired a new position in Shell in the second quarter valued at approximately $31,000. Fairscale Capital LLC acquired a new stake in shares of Shell during the 2nd quarter worth approximately $33,000. Finally, Valley Wealth Managers Inc. acquired a new position in shares of Shell in the 3rd quarter valued at $33,000. 28.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on SHEL. Scotiabank cut their price objective on shares of Shell from $90.00 to $80.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Citigroup upgraded Shell to a “hold” rating in a research report on Wednesday, October 2nd. Royal Bank of Canada upgraded Shell to a “moderate buy” rating in a research report on Tuesday, July 30th. Wells Fargo & Company boosted 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. Finally, Sanford C. Bernstein upgraded shares of Shell to a “strong-buy” rating in a research report on Friday, October 11th. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $82.00.

Shell Trading Up 1.3 %

Shares of Shell stock opened at $66.33 on Tuesday. Shell plc has a 1-year low of $60.34 and a 1-year high of $74.61. The stock has a market cap of $206.41 billion, a P/E ratio of 13.65, a P/E/G ratio of 1.97 and a beta of 0.56. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.40 and a quick ratio of 1.13. The stock’s 50 day simple moving average is $67.33 and its 200-day simple moving average is $70.13.

Shell Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.688 per share. The ex-dividend date is Friday, November 15th. This represents a $2.75 annualized dividend and a dividend yield of 4.15%. Shell’s dividend payout ratio is presently 56.58%.

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.