Fortitude Family Office LLC Makes New Investment in Shell plc (NYSE:SHEL)

Fortitude Family Office LLC bought a new position in shares of Shell plc (NYSE:SHEL) during the third quarter, Holdings Channel reports. The fund bought 450 shares of the energy company’s stock, valued at approximately $30,000.

A number of other institutional investors have also recently added to or reduced their stakes in SHEL. Hobbs Group Advisors LLC bought a new stake in Shell during the 2nd quarter worth approximately $26,000. Triad Wealth Partners LLC bought a new stake in shares of Shell in the 2nd quarter valued at $31,000. Fairscale Capital LLC bought a new stake in shares of Shell in the 2nd quarter valued at $33,000. GHP Investment Advisors Inc. boosted its stake in shares of Shell by 40.8% in the 3rd 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 last quarter. Finally, LRI Investments LLC boosted its stake in shares of Shell by 3,856.3% in the 2nd quarter. LRI Investments LLC now owns 633 shares of the energy company’s stock valued at $46,000 after purchasing an additional 617 shares during the last quarter. 28.60% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Sanford C. Bernstein raised shares of Shell to a “strong-buy” rating in a research note 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. Wolfe Research initiated coverage on shares of Shell in a research note on Thursday, July 18th. They issued a “peer perform” rating on the stock. Wells Fargo & Company raised their price target on shares of Shell from $84.00 to $88.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Finally, Citigroup upgraded shares of Shell to a “hold” rating in a report on Wednesday, October 2nd. Three research analysts have rated the stock with a hold rating, four have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $82.00.

Shell Stock Up 0.5 %

Shares of NYSE SHEL opened at $65.58 on Thursday. The stock has a market capitalization of $204.09 billion, a P/E ratio of 12.07, a P/E/G ratio of 1.84 and a beta of 0.56. The company has a 50-day moving average price of $68.37 and a 200-day moving average price of $70.61. 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 0.35, a current ratio of 1.41 and a quick ratio of 1.12.

Shell (NYSE:SHEL) last issued its quarterly earnings data 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 analysts’ expectations of $88.62 billion. Shell had a net margin of 5.97% and a return on equity of 14.56%. During the same period last year, the company earned $1.50 earnings per share. On average, equities research analysts forecast that Shell plc will post 8.45 EPS for the current fiscal year.

Shell Company 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.