Northeast Investment Management Decreases Holdings in Shell plc (NYSE:SHEL)

by · The Markets Daily

Northeast Investment Management decreased its position in shares of Shell plc (NYSE:SHEL – Free Report) by 31.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,802 shares of the energy company’s stock after selling 5,000 shares during the quarter. Northeast Investment Management’s holdings in Shell were worth $712,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Forum Financial Management LP boosted its stake in shares of Shell by 1.0% during the 3rd quarter. Forum Financial Management LP now owns 31,888 shares of the energy company’s stock worth $2,103,000 after acquiring an additional 305 shares in the last quarter. Harbour Investment Management LLC boosted its stake in shares of Shell by 0.7% during the 3rd quarter. Harbour Investment Management LLC now owns 30,715 shares of the energy company’s stock worth $2,026,000 after acquiring an additional 200 shares in the last quarter. GFS Advisors LLC lifted its stake in Shell by 5,470.3% in the 3rd quarter. GFS Advisors LLC now owns 32,085 shares of the energy company’s stock valued at $2,116,000 after buying an additional 31,509 shares in the last quarter. Clear Creek Financial Management LLC purchased a new stake in Shell in the 3rd quarter valued at approximately $211,000. Finally, James Investment Research Inc. lifted its stake in Shell by 5.7% in the 3rd quarter. James Investment Research Inc. now owns 12,614 shares of the energy company’s stock valued at $832,000 after buying an additional 682 shares in the last quarter. Hedge funds and other institutional investors own 28.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Citigroup raised Shell to a “hold” rating in a research note on Wednesday, October 2nd. Royal Bank of Canada upgraded Shell to a “moderate buy” rating in a report on Tuesday, July 30th. Scotiabank cut their price target on Shell from $90.00 to $80.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Sanford C. Bernstein upgraded Shell to a “strong-buy” rating in a report on Friday, October 11th. Finally, Wolfe Research assumed coverage on Shell in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $82.00.

Read Our Latest Report on SHEL

Shell Trading Down 0.1 %

SHEL stock opened at $67.49 on Monday. The company has a market cap of $210.04 billion, a price-to-earnings ratio of 13.89, a PEG ratio of 1.86 and a beta of 0.56. The company has a quick ratio of 1.12, a current ratio of 1.41 and a debt-to-equity ratio of 0.35. The business has a fifty day simple moving average of $68.08 and a 200-day simple moving average of $70.52. Shell plc has a 52 week low of $60.34 and a 52 week high of $74.61.

Shell (NYSE:SHEL – Get Free Report) last announced its quarterly earnings results on Thursday, August 1st. The energy company reported $1.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.82 by $0.15. Shell had a return on equity of 14.57% and a net margin of 5.17%. The firm had revenue of $75.06 billion during the quarter, compared to the consensus estimate of $88.62 billion. During the same period in the prior year, the firm earned $1.50 EPS. On average, equities research analysts expect that Shell plc will post 8.45 EPS for the current year.

Shell Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, November 15th will be issued a $0.688 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.75 annualized dividend and a yield of 4.08%. Shell’s dividend payout ratio is currently 56.58%.

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.

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