Bank of New York Mellon Corp Has $38.38 Million Stock Holdings in Shell plc (NYSE:SHEL)

Bank of New York Mellon Corp trimmed its position in shares of Shell plc (NYSE:SHEL) by 21.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 531,676 shares of the energy company’s stock after selling 141,458 shares during the quarter. Bank of New York Mellon Corp’s holdings in Shell were worth $38,376,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Hobbs Group Advisors LLC acquired a new stake in shares of Shell during the second quarter valued at about $26,000. Triad Wealth Partners LLC acquired a new stake in shares of Shell during the second quarter valued at about $31,000. Beaird Harris Wealth Management LLC lifted its stake in shares of Shell by 611.1% in the fourth quarter. Beaird Harris Wealth Management LLC now owns 448 shares of the energy company’s stock worth $29,000 after acquiring an additional 385 shares during the period. LRI Investments LLC acquired a new position in shares of Shell in the first quarter worth approximately $47,000. Finally, Fairman Group LLC acquired a new position in shares of Shell in the fourth quarter worth approximately $45,000. 28.60% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently commented on SHEL. Wells Fargo & Company cut their price objective on Shell from $91.00 to $90.00 and set an “overweight” rating on the stock in a research note on Friday, June 21st. Wolfe Research began coverage on Shell in a research note on Thursday, July 18th. They issued a “peer perform” rating on the stock. Scotiabank cut 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. Argus boosted their price target on Shell from $77.00 to $79.00 and gave the company a “buy” rating in a research note on Thursday, June 6th. Finally, Berenberg Bank raised Shell to a “strong-buy” rating in a research note on Monday, August 5th. 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. According to data from MarketBeat.com, Shell presently has an average rating of “Moderate Buy” and a consensus price target of $85.00.

Shell Trading Down 1.2 %

NYSE SHEL opened at $71.66 on Tuesday. The company has a market cap 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. Shell plc has a 52 week low of $60.34 and a 52 week high of $74.61. The business has a 50 day moving average price of $72.21 and a 200-day moving average price of $70.28. 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 (NYSE:SHEL) last released its quarterly earnings data on Thursday, August 1st. The energy company reported $1.97 EPS for the quarter, beating the consensus estimate of $1.82 by $0.15. The firm had revenue of $75.06 billion during 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 quarter in the previous year, the company posted $1.50 earnings per share. As a group, equities analysts expect that Shell plc will post 8.58 earnings per share for the current fiscal year.

Shell Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 23rd. Stockholders of record on Friday, August 16th will be issued a dividend of $0.688 per share. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.75 annualized dividend and a dividend yield of 3.84%. Shell’s dividend payout ratio is 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.