Daymark Wealth Partners LLC Raises Stock Holdings in Shell plc (NYSE:SHEL)

Daymark Wealth Partners LLC increased its holdings in Shell plc (NYSE:SHEL) by 574.9% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 21,002 shares of the energy company’s stock after purchasing an additional 17,890 shares during the period. Daymark Wealth Partners LLC’s holdings in Shell were worth $1,516,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of SHEL. Empyrean Capital Partners LP purchased a new stake in shares of Shell during the 2nd quarter valued at about $151,578,000. AQR Capital Management LLC raised its position in Shell by 42.7% during the second quarter. AQR Capital Management LLC now owns 21,701 shares of the energy company’s stock valued at $1,566,000 after purchasing an additional 6,495 shares during the period. AlTi Global Inc. lifted its stake in shares of Shell by 3.4% in the 2nd quarter. AlTi Global Inc. now owns 7,120 shares of the energy company’s stock valued at $514,000 after purchasing an additional 237 shares during the last quarter. Cubist Systematic Strategies LLC increased its position in shares of Shell by 74.8% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 96,362 shares of the energy company’s stock valued at $6,955,000 after purchasing an additional 41,231 shares during the last quarter. Finally, Marshall Wace LLP lifted its position in Shell by 147.8% in the second quarter. Marshall Wace LLP now owns 152,146 shares of the energy company’s stock worth $10,982,000 after buying an additional 90,746 shares during the last quarter. Institutional investors own 28.60% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on SHEL shares. Scotiabank reduced their target price on shares of Shell from $95.00 to $90.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 12th. Berenberg Bank raised shares of Shell to a “strong-buy” rating in a research note on Monday, August 5th. Argus upped their target price on Shell from $77.00 to $79.00 and gave the company a “buy” rating in a research note on Thursday, June 6th. Royal Bank of Canada upgraded Shell to a “moderate buy” rating in a report on Tuesday, July 30th. Finally, Wells Fargo & Company reduced 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. Two research 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. Based on data from MarketBeat.com, Shell has an average rating of “Moderate Buy” and a consensus target price of $85.00.

Shell Trading Down 3.9 %

Shares of NYSE SHEL opened at $65.34 on Friday. Shell plc has a twelve month low of $60.34 and a twelve month high of $74.61. 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 business has a fifty day simple moving average of $70.48 and a two-hundred day simple moving average of $70.72. The firm has a market cap of $204.56 billion, a PE ratio of 12.06, a price-to-earnings-growth ratio of 1.59 and a beta of 0.57.

Shell (NYSE:SHEL) last issued its earnings results on Thursday, August 1st. The energy company reported $1.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.82 by $0.15. Shell had a net margin of 5.97% and a return on equity of 14.56%. The company had revenue of $75.06 billion for the quarter, compared to analysts’ expectations of $88.62 billion. During the same period in the prior year, the business earned $1.50 EPS. Analysts expect that Shell plc will post 8.47 earnings per share for the current fiscal year.

Shell Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Friday, August 16th were issued a dividend of $0.688 per share. The ex-dividend date was Friday, August 16th. This represents a $2.75 dividend on an annualized basis and a yield of 4.21%. Shell’s dividend payout ratio is currently 50.74%.

Shell 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.