Shell plc (NYSE:SHEL) Shares Sold by Seven Eight Capital LP

Seven Eight Capital LP lessened its stake in shares of Shell plc (NYSE:SHEL) by 79.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,845 shares of the energy company’s stock after selling 29,936 shares during the quarter. Seven Eight Capital LP’s holdings in Shell were worth $566,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Fisher Asset Management LLC raised its position in Shell by 1.9% in the fourth quarter. Fisher Asset Management LLC now owns 22,823,227 shares of the energy company’s stock valued at $1,501,768,000 after purchasing an additional 429,528 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Shell by 0.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 22,722,317 shares of the energy company’s stock valued at $1,640,082,000 after buying an additional 96,549 shares during the period. Price T Rowe Associates Inc. MD boosted 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 valued at $450,180,000 after acquiring an additional 772,736 shares during the period. Westwood Global Investments LLC increased its stake in Shell by 4.1% during the second quarter. Westwood Global Investments LLC now owns 2,546,523 shares of the energy company’s stock worth $183,808,000 after purchasing an additional 100,379 shares during the period. Finally, Envestnet Asset Management Inc. boosted its stake in shares of Shell by 6.4% in the second quarter. Envestnet Asset Management Inc. now owns 2,248,366 shares of the energy company’s stock valued at $162,287,000 after purchasing an additional 136,139 shares during the period. 28.60% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SHEL has been the topic of a number of recent research reports. 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 report on Friday, July 12th. Wells Fargo & Company lowered their price target on shares of Shell from $91.00 to $90.00 and set an “overweight” rating for the company in a report on Friday, June 21st. Wolfe Research assumed coverage on shares of Shell in a research note on Thursday, July 18th. They set a “peer perform” rating for the company. Royal Bank of Canada raised Shell to a “moderate buy” rating in a report on Tuesday, July 30th. Finally, Argus increased their price objective on Shell from $77.00 to $79.00 and gave the company a “buy” rating in a report on Thursday, June 6th. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Shell currently has an average rating of “Moderate Buy” and a consensus price target of $85.00.

Shell Stock Performance

NYSE SHEL opened at $68.72 on Friday. The company has a fifty day moving average of $70.88 and a two-hundred day moving average of $70.66. The company has a market capitalization of $215.15 billion, a PE ratio of 12.68, a P/E/G ratio of 1.53 and a beta of 0.57. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.41 and a quick ratio of 1.12. Shell plc has a 1 year low of $60.34 and a 1 year high of $74.61.

Shell (NYSE:SHEL) last issued its quarterly 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 firm had revenue of $75.06 billion during the quarter, compared to analysts’ expectations 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 business earned $1.50 EPS. As a group, analysts expect that Shell plc will post 8.64 earnings per share for the current year.

Shell Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 23rd. Shareholders of record on Friday, August 16th will be paid 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 dividend payout ratio is presently 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.