Meridian Wealth Management LLC Invests $678,000 in Shell plc (NYSE:SHEL)

Meridian Wealth Management LLC purchased a new position in shares of Shell plc (NYSE:SHEL) in the 3rd quarter, Holdings Channel reports. The firm purchased 10,283 shares of the energy company’s stock, valued at approximately $678,000.

Other institutional investors also recently modified their holdings of the company. Hobbs Group Advisors LLC acquired a new position in shares of Shell during the second quarter worth $26,000. Fortitude Family Office LLC acquired a new stake in Shell in the third quarter valued at $30,000. Triad Wealth Partners LLC acquired a new stake in Shell in the second quarter valued at $31,000. Fairscale Capital LLC acquired a new stake in Shell in the second quarter valued at $33,000. Finally, Valley Wealth Managers Inc. acquired a new stake in Shell in the third quarter valued at $33,000. 28.60% of the stock is currently owned by institutional investors and hedge funds.

Shell Stock Performance

Shares of SHEL opened at $66.03 on Monday. 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 has a 50-day moving average of $67.25 and a 200-day moving average of $69.92. The company 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. Shell plc has a one year low of $60.34 and a one year high of $74.61.

Shell Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, November 15th will be paid a $0.688 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.75 annualized dividend and a dividend yield of 4.17%. Shell’s dividend payout ratio is presently 56.58%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Barclays upgraded Shell to a “strong-buy” rating in a report on Wednesday, October 2nd. Scotiabank decreased their price objective on Shell from $90.00 to $80.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Wells Fargo & Company increased their price target on Shell from $84.00 to $88.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Citigroup upgraded Shell to a “hold” rating in a report on Wednesday, October 2nd. 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 issued a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $82.00.

Shell 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.