Shell plc (NYSE:SHEL) Shares Sold by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC reduced its holdings in Shell plc (NYSE:SHEL) by 7.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 429,160 shares of the energy company’s stock after selling 32,136 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Shell were worth $30,977,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Fisher Asset Management LLC boosted its stake in shares of Shell by 1.9% during the 4th quarter. Fisher Asset Management LLC now owns 22,823,227 shares of the energy company’s stock worth $1,501,768,000 after acquiring an additional 429,528 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Shell by 13.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,715,078 shares of the energy company’s stock worth $450,180,000 after buying an additional 772,736 shares during the period. Franklin Resources Inc. boosted its holdings in shares of Shell by 2.4% in the fourth quarter. Franklin Resources Inc. now owns 6,173,651 shares of the energy company’s stock worth $406,226,000 after buying an additional 143,910 shares during the period. Mawer Investment Management Ltd. increased its position in shares of Shell by 19.9% in the fourth quarter. Mawer Investment Management Ltd. now owns 5,325,276 shares of the energy company’s stock worth $350,403,000 after acquiring an additional 885,069 shares in the last quarter. Finally, Westwood Global Investments LLC boosted its stake in Shell by 1.2% in the 1st quarter. Westwood Global Investments LLC now owns 2,446,144 shares of the energy company’s stock worth $163,989,000 after purchasing an additional 28,818 shares during the period. 28.60% of the stock is owned by institutional investors and hedge funds.

Shell Stock Performance

SHEL stock opened at $71.66 on Monday. The company has a market capitalization of $225.47 billion, a price-to-earnings ratio of 13.22, a P/E/G ratio of 1.58 and a beta of 0.59. The firm has a 50 day moving average of $72.20 and a two-hundred day moving average of $70.22. The company has a quick ratio of 1.12, a current ratio of 1.41 and a debt-to-equity ratio of 0.35. Shell plc has a 12 month low of $60.34 and a 12 month high of $74.61.

Shell (NYSE:SHEL) last posted 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 firm had revenue of $75.06 billion for the quarter, compared to the consensus estimate of $88.62 billion. Shell had a net margin of 5.97% and a return on equity of 14.56%. During the same period in the prior year, the business posted $1.50 earnings per share. As a group, equities analysts anticipate that Shell plc will post 8.58 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 dividend of $0.688 per share. The ex-dividend date is Friday, August 16th. This represents a $2.75 dividend on an annualized basis and a yield of 3.84%. Shell’s payout ratio is currently 50.74%.

Analysts Set New Price Targets

Several brokerages have issued reports on SHEL. Wolfe Research assumed coverage on shares of Shell in a research note on Thursday, July 18th. They set a “peer perform” rating on the stock. Wells Fargo & Company lowered their target price on Shell from $91.00 to $90.00 and set an “overweight” rating on the stock in a research note on Friday, June 21st. Scotiabank reduced their price target on shares of Shell from $95.00 to $90.00 and set a “sector outperform” rating for the company in a research report on Friday, July 12th. Berenberg Bank raised shares of Shell to a “strong-buy” rating in a research report on Monday, August 5th. Finally, Argus increased their target price on shares of Shell from $77.00 to $79.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $85.00.

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.