Independence Bank of Kentucky Grows Holdings in Shell plc (NYSE:SHEL)

Independence Bank of Kentucky grew its holdings in Shell plc (NYSE:SHEL) by 19.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,530 shares of the energy company’s stock after purchasing an additional 902 shares during the period. Independence Bank of Kentucky’s holdings in Shell were worth $399,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Hobbs Group Advisors LLC bought a new position in shares of Shell during the 2nd quarter worth $26,000. Beaird Harris Wealth Management LLC boosted its position in Shell by 611.1% during the fourth quarter. Beaird Harris Wealth Management LLC now owns 448 shares of the energy company’s stock valued at $29,000 after purchasing an additional 385 shares in the last quarter. Triad Wealth Partners LLC bought a new stake in Shell during the second quarter valued at about $31,000. Allspring Global Investments Holdings LLC boosted its position in Shell by 90.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 495 shares of the energy company’s stock valued at $33,000 after purchasing an additional 235 shares in the last quarter. Finally, Fairman Group LLC acquired a new stake in Shell in the fourth quarter worth about $45,000. Hedge funds and other institutional investors own 28.60% of the company’s stock.

Shell Stock Up 1.4 %

Shares of SHEL stock opened at $72.43 on Monday. The stock has a 50 day moving average of $71.93 and a 200 day moving average of $69.91. The company has a current ratio of 1.41, a quick ratio of 1.12 and a debt-to-equity ratio of 0.35. The stock has a market cap of $227.89 billion, a P/E ratio of 13.36, a P/E/G ratio of 1.60 and a beta of 0.59. Shell plc has a twelve month low of $60.34 and a twelve month high of $74.61.

Shell (NYSE:SHEL) last announced its quarterly earnings results on Thursday, August 1st. The energy company reported $1.97 earnings per share for the quarter, beating the consensus estimate of $1.82 by $0.15. The company had revenue of $75.06 billion during the quarter, compared to analysts’ expectations of $88.62 billion. Shell had a return on equity of 14.56% and a net margin of 5.97%. During the same period last year, the business earned $1.50 earnings per share. As a group, sell-side analysts expect that Shell plc will post 8.63 EPS for the current year.

Shell Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 23rd. Stockholders of record on Friday, August 16th will be paid a dividend of $0.688 per share. This represents a $2.75 annualized dividend and a dividend yield of 3.80%. The ex-dividend date of this dividend is Friday, August 16th. Shell’s payout ratio is 50.74%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Wolfe Research assumed coverage on Shell in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. Wells Fargo & Company lowered their price target on Shell from $91.00 to $90.00 and set an “overweight” rating for the company in a report on Friday, June 21st. Scotiabank reduced their price objective on Shell from $95.00 to $90.00 and set a “sector outperform” rating for the company in a research note on Friday, July 12th. Royal Bank of Canada upgraded Shell to a “moderate buy” rating in a research note on Tuesday, July 30th. Finally, TD Securities raised their price objective on Shell from $74.00 to $81.00 and gave the stock a “buy” rating in a research note on Friday, May 3rd. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Shell presently has an average rating of “Moderate Buy” and a consensus target price of $85.00.

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.