Shell plc (NYSE:SHEL) Shares Bought by Bridges Investment Management Inc.

Bridges Investment Management Inc. grew its position in shares of Shell plc (NYSE:SHEL) by 5.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,518 shares of the energy company’s stock after purchasing an additional 282 shares during the quarter. Bridges Investment Management Inc.’s holdings in Shell were worth $398,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. United Community Bank raised its position in shares of Shell by 4.4% in the first quarter. United Community Bank now owns 3,315 shares of the energy company’s stock worth $222,000 after acquiring an additional 139 shares during the period. First Horizon Advisors Inc. raised its holdings in Shell by 1.3% in the 2nd quarter. First Horizon Advisors Inc. now owns 11,097 shares of the energy company’s stock worth $801,000 after purchasing an additional 142 shares during the period. Marcum Wealth LLC boosted its position in Shell by 3.7% during the first quarter. Marcum Wealth LLC now owns 4,223 shares of the energy company’s stock worth $283,000 after purchasing an additional 150 shares in the last quarter. Lester Murray Antman dba SimplyRich increased its position in shares of Shell by 0.6% in the first quarter. Lester Murray Antman dba SimplyRich now owns 26,743 shares of the energy company’s stock valued at $1,793,000 after buying an additional 153 shares in the last quarter. Finally, Jones Financial Companies Lllp raised its stake in shares of Shell by 5.9% during the 4th quarter. Jones Financial Companies Lllp now owns 2,907 shares of the energy company’s stock worth $191,000 after buying an additional 161 shares during the period. 28.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Royal Bank of Canada raised shares of Shell to a “moderate buy” rating in a report on Tuesday, July 30th. Scotiabank cut their target price on shares of Shell from $95.00 to $90.00 and set a “sector outperform” rating for the company in a research note on Friday, July 12th. Argus raised their price target on shares of Shell from $77.00 to $79.00 and gave the company a “buy” rating in a research note on Thursday, June 6th. Berenberg Bank raised Shell to a “strong-buy” rating in a report on Monday, August 5th. Finally, Wells Fargo & Company lowered their price target 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 investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $85.00.

Shell Trading Down 0.7 %

SHEL opened at $68.72 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.41 and a quick ratio of 1.12. The company’s 50 day simple moving average is $70.88 and its two-hundred day simple moving average is $70.66. The firm has a market capitalization of $215.15 billion, a price-to-earnings ratio of 12.68, a price-to-earnings-growth ratio of 1.53 and a beta of 0.57. Shell plc has a 1-year low of $60.34 and a 1-year high of $74.61.

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, beating the consensus estimate 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 period in the prior year, the business earned $1.50 EPS. Analysts expect that Shell plc will post 8.64 EPS for the current fiscal year.

Shell Announces Dividend

The company also recently announced 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 dividend on an annualized basis and a yield of 4.00%. The ex-dividend date is Friday, August 16th. Shell’s dividend payout ratio (DPR) 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.