Meridian Wealth Management LLC Makes New Investment in Shell plc (NYSE:SHEL)

Meridian Wealth Management LLC bought a new position in shares of Shell plc (NYSE:SHEL) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 10,283 shares of the energy company’s stock, valued at approximately $678,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SHEL. NorthCrest Asset Manangement LLC raised its stake in shares of Shell by 6.4% in the 3rd quarter. NorthCrest Asset Manangement LLC now owns 3,741 shares of the energy company’s stock valued at $247,000 after purchasing an additional 225 shares during the period. Lazard Asset Management LLC raised its stake in shares of Shell by 21.0% in the 1st quarter. Lazard Asset Management LLC now owns 44,896 shares of the energy company’s stock valued at $3,009,000 after purchasing an additional 7,779 shares during the period. Creative Planning raised its stake in shares of Shell by 11.3% in the 2nd quarter. Creative Planning now owns 292,587 shares of the energy company’s stock valued at $21,119,000 after purchasing an additional 29,677 shares during the period. Raymond James & Associates raised its stake in shares of Shell by 65.7% in the 2nd quarter. Raymond James & Associates now owns 1,698,247 shares of the energy company’s stock valued at $122,579,000 after purchasing an additional 673,624 shares during the period. Finally, Foresight Global Investors Inc. acquired a new stake in shares of Shell in the 2nd quarter valued at about $1,472,000. 28.60% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Shell Trading Down 0.4 %

Shares of NYSE:SHEL opened at $66.03 on Monday. Shell plc has a 12-month low of $60.34 and a 12-month high of $74.61. The stock has a market cap of $204.39 billion, a PE ratio of 13.59, a P/E/G ratio of 1.99 and a beta of 0.56. The business has a 50 day moving average of $67.25 and a 200-day moving average of $69.92. The company has a quick ratio of 1.13, a current ratio of 1.40 and a debt-to-equity ratio of 0.34.

Shell Announces Dividend

The company also recently disclosed 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. This represents a $2.75 dividend on an annualized basis and a dividend yield of 4.17%. The ex-dividend date of this dividend is Friday, November 15th. Shell’s dividend payout ratio is presently 56.58%.

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.