Fortitude Advisory Group L.L.C. Acquires New Stake in Shell plc (NYSE:SHEL)

Fortitude Advisory Group L.L.C. bought a new stake in Shell plc (NYSE:SHELGet Rating) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,462 shares of the energy company’s stock, valued at approximately $135,000.

Several other large investors also recently added to or reduced their stakes in the stock. Profund Advisors LLC purchased a new position in shares of Shell during the 1st quarter worth $883,000. Dixon Hughes Goodman Wealth Advisors LLC purchased a new position in shares of Shell during the 1st quarter worth $114,000. Toronto Dominion Bank purchased a new position in shares of Shell during the 1st quarter worth $206,000. Qube Research & Technologies Ltd purchased a new position in shares of Shell during the 1st quarter worth $1,572,000. Finally, Bogart Wealth LLC purchased a new position in shares of Shell during the 1st quarter worth $1,058,000. 7.65% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on SHEL. HSBC lowered their target price on Shell from GBX 2,700 ($32.62) to GBX 2,550 ($30.81) in a report on Wednesday, July 20th. Credit Suisse Group began coverage on Shell in a report on Thursday, June 9th. They set an “outperform” rating for the company. Deutsche Bank Aktiengesellschaft raised their target price on Shell from GBX 2,551 ($30.82) to GBX 2,779 ($33.58) in a report on Wednesday, July 6th. Royal Bank of Canada raised their target price on Shell from GBX 3,100 ($37.46) to GBX 3,200 ($38.67) in a report on Friday, July 29th. Finally, ING Group upgraded Shell from a “hold” rating to a “buy” rating in a report on Tuesday, July 12th. Six analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $2,134.13.

Shell Price Performance

Shares of NYSE SHEL opened at $53.10 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.09 and a current ratio of 1.39. Shell plc has a fifty-two week low of $44.90 and a fifty-two week high of $61.67. The firm has a market capitalization of $203.11 billion, a PE ratio of 5.59, a price-to-earnings-growth ratio of 0.52 and a beta of 0.66. The stock’s 50-day simple moving average is $51.98 and its 200-day simple moving average is $53.88.

Shell Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 19th. Investors of record on Friday, August 12th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, August 11th. This represents a $2.00 dividend on an annualized basis and a yield of 3.77%. Shell’s dividend payout ratio is presently 21.05%.

Shell Company Profile

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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 necessary to deliver gas to market.

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Institutional Ownership by Quarter for Shell (NYSE:SHEL)

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