Ieq Capital LLC Purchases 13,185 Shares of Shell plc (NYSE:SHEL)

Ieq Capital LLC increased its holdings in shares of Shell plc (NYSE:SHEL) by 65.4% in the second quarter, HoldingsChannel reports. The firm owned 33,343 shares of the energy company’s stock after buying an additional 13,185 shares during the period. Ieq Capital LLC’s holdings in Shell were worth $2,407,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Lazard Asset Management LLC raised its stake in Shell by 21.0% in the 1st quarter. Lazard Asset Management LLC now owns 44,896 shares of the energy company’s stock valued at $3,009,000 after acquiring an additional 7,779 shares during the period. Raymond James & Associates raised its position in shares of Shell by 65.7% in the second quarter. Raymond James & Associates now owns 1,698,247 shares of the energy company’s stock valued at $122,579,000 after purchasing an additional 673,624 shares during the period. Cantor Fitzgerald Investment Advisors L.P. bought a new stake in shares of Shell during the 4th quarter worth about $22,628,000. Pingora Partners LLC acquired a new position in Shell in the 4th quarter valued at about $1,306,000. Finally, Norden Group LLC lifted its position in Shell by 2,843.4% during the first quarter. Norden Group LLC now owns 170,867 shares of the energy company’s stock worth $11,455,000 after acquiring an additional 165,062 shares during the last quarter. Institutional investors and hedge funds own 28.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on SHEL. Royal Bank of Canada upgraded Shell to a “moderate buy” rating in a research note on Tuesday, July 30th. Wells Fargo & Company dropped their target price on Shell from $91.00 to $90.00 and set an “overweight” rating for the company in a report on Friday, June 21st. Scotiabank lowered their price target on shares of Shell from $95.00 to $90.00 and set a “sector outperform” rating on the stock in a research report on Friday, July 12th. Wolfe Research assumed coverage on shares of Shell in a research report on Thursday, July 18th. They issued a “peer perform” rating for the company. Finally, Argus increased their price target on Shell from $77.00 to $79.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $85.00.

Shell Stock Performance

NYSE SHEL opened at $68.72 on Friday. Shell plc has a 1 year low of $60.34 and a 1 year high of $74.61. The firm has a market capitalization of $215.15 billion, a price-to-earnings ratio of 12.68, a P/E/G ratio of 1.53 and a beta of 0.57. 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 firm’s 50 day simple moving average is $70.88 and its 200 day simple moving average is $70.66.

Shell (NYSE:SHEL) last posted its quarterly earnings results on Thursday, August 1st. The energy company reported $1.97 EPS for the quarter, topping analysts’ consensus estimates of $1.82 by $0.15. Shell had a return on equity of 14.56% and a net margin of 5.97%. The company had revenue of $75.06 billion during the quarter, compared to analysts’ expectations of $88.62 billion. During the same quarter in the previous year, the firm earned $1.50 EPS. As a group, research analysts expect that Shell plc will post 8.64 earnings per share for the current fiscal year.

Shell Dividend Announcement

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 given a dividend of $0.688 per share. This represents a $2.75 dividend on an annualized basis and a yield of 4.00%. The ex-dividend date is Friday, August 16th. Shell’s dividend payout ratio is 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.