Arete Wealth Advisors LLC bought a new stake in shares of Shell plc (NYSE:SHEL – Get Rating) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 7,520 shares of the energy company’s stock, valued at approximately $413,000.
Other hedge funds have also added to or reduced their stakes in the company. Fisher Asset Management LLC bought a new stake in shares of Shell during the 1st quarter valued at $1,076,420,000. Pendal Group Ltd bought a new stake in shares of Shell during the 1st quarter valued at $228,638,000. Pzena Investment Management LLC bought a new stake in shares of Shell during the 1st quarter valued at $181,177,000. Chevy Chase Trust Holdings Inc. bought a new stake in shares of Shell during the 1st quarter valued at $116,959,000. Finally, Todd Asset Management LLC bought a new stake in shares of Shell during the 1st quarter valued at $82,722,000. 11.72% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several research analysts recently weighed in on the stock. UBS Group upped their target price on shares of Shell from GBX 2,450 ($30.02) to GBX 2,550 ($31.25) in a report on Friday, May 6th. JPMorgan Chase & Co. upped their target price on shares of Shell from GBX 2,850 ($34.92) to GBX 3,000 ($36.76) in a report on Friday, July 15th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Shell from GBX 2,551 ($31.26) to GBX 2,779 ($34.05) in a report on Wednesday, July 6th. HSBC dropped their price objective on shares of Shell from GBX 2,700 ($33.08) to GBX 2,550 ($31.25) in a report on Wednesday, July 20th. Finally, Morgan Stanley increased their price objective on shares of Shell from GBX 2,570 ($31.49) to GBX 2,860 ($35.04) in a report on Wednesday, May 11th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $2,134.13.
Shell Stock Performance
Shell (NYSE:SHEL – Get Rating) last posted its quarterly earnings data on Thursday, May 5th. The energy company reported $2.38 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.26. Shell had a net margin of 10.70% and a return on equity of 17.39%. The company had revenue of $83.16 billion for the quarter. Research analysts forecast that Shell plc will post 11.21 EPS for the current year.
Shell Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 19th. Investors of record on Friday, August 12th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 3.85%. The ex-dividend date of this dividend is Thursday, August 11th. Shell’s dividend payout ratio (DPR) is currently 21.05%.
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 necessary to deliver gas to market.
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