1832 Asset Management L.P. Increases Stock Position in Shell plc (NYSE:SHEL)

1832 Asset Management L.P. boosted its position in Shell plc (NYSE:SHEL) by 184.1% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 705,771 shares of the energy company’s stock after purchasing an additional 457,344 shares during the period. 1832 Asset Management L.P.’s holdings in Shell were worth $50,943,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Aveo Capital Partners LLC lifted its holdings in Shell by 20.0% during the fourth quarter. Aveo Capital Partners LLC now owns 5,376 shares of the energy company’s stock worth $354,000 after acquiring an additional 896 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Shell by 37.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 98,706 shares of the energy company’s stock worth $6,495,000 after buying an additional 26,729 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Shell during the fourth quarter valued at about $355,000. Cambridge Investment Research Advisors Inc. raised its position in Shell by 9.6% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 163,012 shares of the energy company’s stock worth $10,726,000 after acquiring an additional 14,326 shares during the period. Finally, Congress Wealth Management LLC DE purchased a new position in Shell in the fourth quarter valued at about $358,000. Institutional investors own 28.60% of the company’s stock.

Analysts Set New Price Targets

SHEL has been the topic of a number of research reports. 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 report on Friday, July 12th. Wells Fargo & Company dropped their price target on Shell from $91.00 to $90.00 and set an “overweight” rating on the stock in a research report on Friday, June 21st. Berenberg Bank raised Shell to a “strong-buy” rating in a report on Monday, August 5th. Argus upped their price objective on shares of Shell from $77.00 to $79.00 and gave the company a “buy” rating in a report on Thursday, June 6th. Finally, Royal Bank of Canada upgraded shares of Shell to a “moderate buy” rating in a research note on Tuesday, July 30th. Two investment 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 stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $85.00.

Shell Stock Down 0.7 %

SHEL stock opened at $68.72 on Monday. Shell plc has a twelve month low of $60.34 and a twelve month high of $74.61. The firm has a market capitalization of $215.15 billion, a PE ratio of 12.68, a PEG ratio of 1.53 and a beta of 0.57. The company has a quick ratio of 1.12, a current ratio of 1.41 and a debt-to-equity ratio of 0.35. The stock has a 50-day simple moving average of $70.88 and a two-hundred day simple moving average of $70.71.

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

Shell Announces Dividend

The firm also recently announced 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 annualized dividend and a yield of 4.00%. The ex-dividend date of this dividend is Friday, August 16th. Shell’s 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.