Icon Wealth Advisors LLC Increases Position in Shell plc (NYSE:SHEL)

Icon Wealth Advisors LLC increased its stake in shares of Shell plc (NYSE:SHEL) by 1,120.5% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 42,194 shares of the energy company’s stock after acquiring an additional 38,737 shares during the period. Icon Wealth Advisors LLC’s holdings in Shell were worth $2,783,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SHEL. First Horizon Advisors Inc. increased its holdings in shares of Shell by 1.3% in the second quarter. First Horizon Advisors Inc. now owns 11,097 shares of the energy company’s stock valued at $801,000 after purchasing an additional 142 shares during the period. Lester Murray Antman dba SimplyRich lifted its stake in shares of Shell by 0.6% in the 2nd quarter. Lester Murray Antman dba SimplyRich now owns 26,901 shares of the energy company’s stock worth $1,941,000 after acquiring an additional 158 shares during the period. Procyon Advisors LLC increased its stake in shares of Shell by 3.2% during the third quarter. Procyon Advisors LLC now owns 5,074 shares of the energy company’s stock worth $335,000 after acquiring an additional 159 shares during the period. Sax Wealth Advisors LLC raised its holdings in Shell by 4.1% during the second quarter. Sax Wealth Advisors LLC now owns 4,086 shares of the energy company’s stock worth $295,000 after purchasing an additional 162 shares in the last quarter. Finally, GHP Investment Advisors Inc. lifted its position in Shell by 40.8% in the third quarter. GHP Investment Advisors Inc. now owns 563 shares of the energy company’s stock valued at $37,000 after purchasing an additional 163 shares during the period. 28.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SHEL. Citigroup raised Shell to a “hold” rating in a research note on Wednesday, October 2nd. Sanford C. Bernstein upgraded Shell to a “strong-buy” rating in a research report on Friday, October 11th. Royal Bank of Canada raised shares of Shell to a “moderate buy” rating in a research note on Tuesday, July 30th. Scotiabank decreased their price objective on shares of Shell from $90.00 to $80.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Finally, Barclays raised shares of Shell to a “strong-buy” rating in a report on Wednesday, October 2nd. 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. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $82.00.

Shell Stock Performance

NYSE:SHEL opened at $66.30 on Friday. The firm has a 50-day moving average price of $67.28 and a two-hundred day moving average price of $69.99. The company has a market capitalization of $205.21 billion, a P/E ratio of 13.64, a price-to-earnings-growth ratio of 1.97 and a beta of 0.56. Shell plc has a twelve month low of $60.34 and a twelve month high of $74.61. The company has a current ratio of 1.40, a quick ratio of 1.13 and a debt-to-equity ratio of 0.34.

Shell Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, November 15th will be paid a $0.688 dividend. This represents a $2.75 dividend on an annualized basis and a yield of 4.15%. The ex-dividend date is Friday, November 15th. Shell’s payout ratio is currently 56.58%.

About Shell

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.