Letko Brosseau & Associates Inc. trimmed its position in shares of Shell plc (NYSE:SHEL – Free Report) by 1.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 871,697 shares of the energy company’s stock after selling 15,380 shares during the quarter. Letko Brosseau & Associates Inc.’s holdings in Shell were worth $62,919,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in the company. Chicago Capital LLC boosted its holdings in shares of Shell by 42.9% during the 2nd quarter. Chicago Capital LLC now owns 6,664 shares of the energy company’s stock valued at $481,000 after buying an additional 2,000 shares in the last quarter. Greystone Financial Group LLC grew its holdings in Shell by 9.5% in the second quarter. Greystone Financial Group LLC now owns 21,754 shares of the energy company’s stock worth $1,570,000 after purchasing an additional 1,890 shares during the period. Great Lakes Advisors LLC lifted its holdings in shares of Shell by 4.9% during the second quarter. Great Lakes Advisors LLC now owns 533,020 shares of the energy company’s stock valued at $38,473,000 after purchasing an additional 24,795 shares during the last quarter. Cullen Frost Bankers Inc. boosted its position in shares of Shell by 0.9% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 39,378 shares of the energy company’s stock worth $2,842,000 after purchasing an additional 352 shares in the last quarter. Finally, Sivia Capital Partners LLC increased its position in Shell by 3.2% during the 2nd quarter. Sivia Capital Partners LLC now owns 7,803 shares of the energy company’s stock valued at $563,000 after buying an additional 242 shares in the last quarter. Institutional investors own 28.60% of the company’s stock.
Analyst Ratings Changes
SHEL has been the subject of several analyst reports. Wolfe Research initiated coverage on Shell in a report on Thursday, July 18th. They set a “peer perform” rating for the company. Wells Fargo & Company cut their price target on shares of Shell from $91.00 to $90.00 and set an “overweight” rating on the stock in a report on Friday, June 21st. Argus boosted their price objective on shares of Shell from $77.00 to $79.00 and gave the stock a “buy” rating in a report on Thursday, June 6th. Royal Bank of Canada raised Shell to a “moderate buy” rating in a report on Tuesday, July 30th. Finally, Scotiabank lowered their price target on Shell from $95.00 to $90.00 and set a “sector outperform” rating on the stock in a report on Friday, July 12th. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $85.00.
Shell Stock Performance
Shares of NYSE SHEL traded down $1.21 during midday trading on Friday, hitting $66.91. 5,196,362 shares of the company’s stock traded hands, compared to its average volume of 4,096,644. The firm has a fifty day moving average of $72.05 and a 200 day moving average of $70.29. 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 quick ratio of 1.12 and a current ratio of 1.41. The stock has a market capitalization of $211.57 billion, a price-to-earnings ratio of 12.35, a price-to-earnings-growth ratio of 1.59 and a beta of 0.57.
Shell (NYSE:SHEL – Get Free Report) last released its quarterly earnings results on Thursday, August 1st. The energy company reported $1.97 earnings per share for the quarter, topping the consensus estimate of $1.82 by $0.15. Shell had a net margin of 5.97% and a return on equity of 14.56%. The business had revenue of $75.06 billion for the quarter, compared to the consensus estimate of $88.62 billion. During the same period last year, the firm earned $1.50 earnings per share. On average, analysts forecast that Shell plc will post 8.58 earnings per share for the current year.
Shell Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 23rd. Investors of record on Friday, August 16th will be paid a dividend of $0.688 per share. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.75 dividend on an annualized basis and a dividend yield of 4.11%. Shell’s dividend payout ratio (DPR) is presently 50.74%.
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.