Continental Advisors LLC Sells 4,000 Shares of Shell plc (NYSE:SHEL)

Continental Advisors LLC lowered its holdings in Shell plc (NYSE:SHEL) by 9.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 36,520 shares of the energy company’s stock after selling 4,000 shares during the quarter. Shell comprises about 1.2% of Continental Advisors LLC’s investment portfolio, making the stock its 24th largest position. Continental Advisors LLC’s holdings in Shell were worth $2,636,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. DRW Securities LLC acquired a new stake in shares of Shell in the second quarter valued at approximately $2,816,000. Edge Capital Group LLC boosted its position in Shell by 2.5% in the 2nd quarter. Edge Capital Group LLC now owns 124,542 shares of the energy company’s stock valued at $8,989,000 after buying an additional 3,096 shares during the last quarter. Fairscale Capital LLC acquired a new position in shares of Shell during the second quarter valued at $33,000. Itau Unibanco Holding S.A. bought a new position in Shell in the second quarter valued at approximately $70,000. Finally, Fidelis Capital Partners LLC lifted its stake in shares of Shell by 34.0% in the 2nd quarter. Fidelis Capital Partners LLC now owns 16,627 shares of the energy company’s stock valued at $1,175,000 after purchasing an additional 4,222 shares during the period. 28.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently commented on SHEL. Royal Bank of Canada upgraded Shell to a “moderate buy” rating in a report on Tuesday, July 30th. Berenberg Bank raised shares of Shell to a “strong-buy” rating in a research note on Monday, August 5th. Wolfe Research began coverage on shares of Shell in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. Scotiabank dropped their price objective on Shell from $95.00 to $90.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 12th. Finally, Argus boosted 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. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average 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. The business has a 50-day moving average of $70.88 and a 200-day moving average of $70.71. Shell plc has a fifty-two week low of $60.34 and a fifty-two week high of $74.61. The stock has a market capitalization of $215.15 billion, a P/E 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 (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 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 during the quarter, compared to analysts’ expectations of $88.62 billion. During the same period last year, the business earned $1.50 EPS. On average, sell-side analysts anticipate that Shell plc will post 8.64 earnings per share for the current fiscal year.

Shell Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 23rd. Stockholders of record on Friday, August 16th will be given a $0.688 dividend. This represents a $2.75 annualized dividend and a dividend yield of 4.00%. The ex-dividend date of this dividend is Friday, August 16th. Shell’s 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.