SteelPeak Wealth LLC Reduces Stock Position in Shell plc (NYSE:SHEL)

SteelPeak Wealth LLC reduced its position in shares of Shell plc (NYSE:SHEL) by 8.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,898 shares of the energy company’s stock after selling 520 shares during the period. SteelPeak Wealth LLC’s holdings in Shell were worth $389,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Allspring Global Investments Holdings LLC lifted its stake in shares of Shell by 1,293.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 6,898 shares of the energy company’s stock worth $462,000 after purchasing an additional 6,403 shares during the period. Norden Group LLC grew its holdings in Shell by 72.5% in the 1st quarter. Norden Group LLC now owns 10,015 shares of the energy company’s stock valued at $671,000 after buying an additional 4,210 shares during the period. Diversify Advisory Services LLC acquired a new stake in shares of Shell in the first quarter worth approximately $418,000. Mirae Asset Global Investments Co. Ltd. raised its stake in Shell by 5.8% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 116,199 shares of the energy company’s stock worth $7,790,000 after purchasing an additional 6,356 shares during the period. Finally, Blue Trust Inc. increased its holdings in shares of Shell by 7.2% during the 1st quarter. Blue Trust Inc. now owns 9,466 shares of the energy company’s stock worth $635,000 after buying an additional 632 shares during the last quarter. Institutional investors and hedge funds own 28.60% of the company’s stock.

Analyst Ratings Changes

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

Shell Stock Up 3.1 %

SHEL stock opened at $67.60 on Friday. The company has a quick ratio of 1.12, a current ratio of 1.41 and a debt-to-equity ratio of 0.35. Shell plc has a fifty-two week low of $60.34 and a fifty-two week high of $74.61. The firm’s 50-day simple moving average is $68.25 and its 200 day simple moving average is $70.58. The stock has a market cap of $210.38 billion, a PE ratio of 12.07, a price-to-earnings-growth ratio of 1.81 and a beta of 0.56.

Shell (NYSE:SHEL) last announced its earnings results on Thursday, August 1st. The energy company reported $1.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.82 by $0.15. The firm had revenue of $75.06 billion during the quarter, compared to analyst estimates of $88.62 billion. Shell had a net margin of 5.97% and a return on equity of 14.56%. During the same quarter in the prior year, the firm posted $1.50 EPS. As a group, sell-side analysts predict that Shell plc will post 8.45 EPS for the current year.

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.