Eagle Asset Management Inc. Purchases 1,125 Shares of Shell plc (NYSE:SHEL)

Eagle Asset Management Inc. grew its position in Shell plc (NYSE:SHEL) by 10.6% in the third quarter, HoldingsChannel.com reports. The fund owned 11,708 shares of the energy company’s stock after buying an additional 1,125 shares during the quarter. Eagle Asset Management Inc.’s holdings in Shell were worth $785,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Hobbs Group Advisors LLC bought a new stake in shares of Shell during the second quarter worth $26,000. Fortitude Family Office LLC bought a new stake in Shell during the 3rd quarter worth about $30,000. Triad Wealth Partners LLC acquired a new stake in Shell in the 2nd quarter valued at about $31,000. Fairscale Capital LLC bought a new position in shares of Shell in the second quarter worth about $33,000. Finally, Valley Wealth Managers Inc. bought a new stake in shares of Shell during the third quarter valued at approximately $33,000. 28.60% of the stock is currently owned by institutional investors.

Shell Stock Performance

SHEL opened at $65.06 on Tuesday. The company has a market capitalization of $201.39 billion, a price-to-earnings ratio of 13.59, a P/E/G ratio of 1.98 and a beta of 0.56. The business’s 50-day moving average price is $67.25 and its two-hundred day moving average price is $69.90. Shell plc has a 1 year low of $60.34 and a 1 year high of $74.61. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.40 and a quick ratio of 1.13.

Shell Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, November 15th will be given a dividend of $0.688 per share. This represents a $2.75 dividend on an annualized basis and a yield of 4.23%. The ex-dividend date is Friday, November 15th. Shell’s dividend payout ratio (DPR) is currently 56.58%.

Wall Street Analyst Weigh In

Several research firms have issued reports on SHEL. Royal Bank of Canada raised Shell to a “moderate buy” rating in a report on Tuesday, July 30th. Barclays upgraded Shell to a “strong-buy” rating in a research report on Wednesday, October 2nd. Scotiabank cut their target price on shares of Shell from $90.00 to $80.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Citigroup raised shares of Shell to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Wells Fargo & Company raised their price objective on shares of Shell from $84.00 to $88.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Three equities research 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. According to data from MarketBeat, Shell has an average rating of “Buy” and an average 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.