Harbour Investments Inc. Acquires 659 Shares of Shell plc (NYSE:SHEL)

Harbour Investments Inc. lifted its holdings in shares of Shell plc (NYSE:SHEL) by 8.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,615 shares of the energy company’s stock after buying an additional 659 shares during the quarter. Harbour Investments Inc.’s holdings in Shell were worth $622,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Hobbs Group Advisors LLC bought a new position in Shell in the 2nd quarter valued at $26,000. Beaird Harris Wealth Management LLC raised its stake in Shell by 611.1% in 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 approximately $31,000. Allspring Global Investments Holdings LLC increased its holdings in shares of Shell by 90.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 495 shares of the energy company’s stock worth $33,000 after buying an additional 235 shares during the last quarter. Finally, Fairman Group LLC purchased a new stake in shares of Shell during the 4th quarter valued at $45,000. 28.60% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on SHEL. Berenberg Bank upgraded Shell to a “strong-buy” rating in a research report on Monday, August 5th. Argus increased their price target on shares of Shell from $77.00 to $79.00 and gave the company a “buy” rating in a research report on Thursday, June 6th. Wells Fargo & Company cut their price objective on shares of Shell from $91.00 to $90.00 and set an “overweight” rating for the company in a research note on Friday, June 21st. Scotiabank reduced their price objective on Shell from $95.00 to $90.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 12th. Finally, TD Securities raised their target price on shares of Shell from $74.00 to $81.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $85.00.

Shell Price Performance

Shares of NYSE SHEL opened at $71.97 on Thursday. 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 company has a 50 day simple moving average of $72.12 and a two-hundred day simple moving average of $70.06. Shell plc has a fifty-two week low of $60.34 and a fifty-two week high of $74.61. The company has a market capitalization of $227.57 billion, a price-to-earnings ratio of 13.28, a P/E/G ratio of 1.60 and a beta of 0.59.

Shell (NYSE:SHEL) last released its earnings results on Thursday, August 1st. The energy company reported $1.97 EPS for the quarter, topping the consensus estimate of $1.82 by $0.15. The business had revenue of $75.06 billion for the quarter, compared to the consensus estimate of $88.62 billion. Shell had a return on equity of 14.56% and a net margin of 5.97%. During the same period in the previous year, the company posted $1.50 earnings per share. Analysts expect that Shell plc will post 8.63 EPS for the current fiscal year.

Shell Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 23rd. Shareholders of record on Friday, August 16th will be given a $0.688 dividend. This represents a $2.75 dividend on an annualized basis and a yield of 3.82%. The ex-dividend date is Friday, August 16th. Shell’s dividend payout ratio (DPR) is presently 50.74%.

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.