Cutter & CO Brokerage Inc. Trims Position in Shell plc (NYSE:SHEL)

Cutter & CO Brokerage Inc. decreased its position in shares of Shell plc (NYSE:SHEL) by 4.1% during the third quarter, Holdings Channel.com reports. The firm owned 16,286 shares of the energy company’s stock after selling 693 shares during the period. Cutter & CO Brokerage Inc.’s holdings in Shell were worth $1,074,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in SHEL. Hobbs Group Advisors LLC acquired a new stake in shares of Shell during the 2nd quarter worth approximately $26,000. Fortitude Family Office LLC acquired a new stake in Shell in the 3rd quarter valued at $30,000. Triad Wealth Partners LLC acquired a new stake in Shell in the 2nd quarter valued at $31,000. Fairscale Capital LLC acquired a new stake in Shell in the 2nd quarter valued at $33,000. Finally, GHP Investment Advisors Inc. grew its stake in Shell by 40.8% in the 3rd quarter. GHP Investment Advisors Inc. now owns 563 shares of the energy company’s stock valued at $37,000 after acquiring an additional 163 shares during the period. Institutional investors and hedge funds own 28.60% of the company’s stock.

Analyst Ratings Changes

SHEL has been the topic of a number of research analyst reports. Wolfe Research initiated coverage on shares of Shell in a research note on Thursday, July 18th. They issued a “peer perform” rating on the stock. Scotiabank dropped their price target on shares of Shell from $90.00 to $80.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Berenberg Bank raised shares of Shell to a “strong-buy” rating in a research note on Monday, August 5th. Wells Fargo & Company raised their price objective on Shell from $84.00 to $88.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Finally, Sanford C. Bernstein upgraded Shell to a “strong-buy” rating in a 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, Shell currently has an average rating of “Buy” and a consensus price target of $82.00.

Shell Trading Down 1.0 %

Shares of NYSE SHEL traded down $0.64 during trading on Tuesday, hitting $65.40. 211,111 shares of the company were exchanged, compared to its average volume of 4,120,699. Shell plc has a 12-month low of $60.34 and a 12-month 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. The company has a fifty day moving average price of $68.62 and a 200-day moving average price of $70.71. The firm has a market capitalization of $203.53 billion, a PE ratio of 12.19, a P/E/G ratio of 1.84 and a beta of 0.56.

Shell (NYSE:SHEL) last posted its quarterly earnings results on Thursday, August 1st. The energy company reported $1.97 EPS for the quarter, topping 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 business had revenue of $75.06 billion for the quarter, compared to analyst estimates of $88.62 billion. During the same quarter in the previous year, the firm earned $1.50 EPS. As a group, equities research analysts expect that Shell plc will post 8.45 EPS for the current year.

Shell Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Friday, August 16th were paid a $0.688 dividend. This represents a $2.75 dividend on an annualized basis and a yield of 4.21%. The ex-dividend date was Friday, August 16th. Shell’s payout ratio is 50.74%.

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.