Coronation Fund Managers Ltd. Sells 887 Shares of Shell plc (NYSE:SHEL)

Coronation Fund Managers Ltd. lowered its holdings in shares of Shell plc (NYSE:SHEL) by 5.9% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 14,133 shares of the energy company’s stock after selling 887 shares during the period. Coronation Fund Managers Ltd.’s holdings in Shell were worth $947,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of SHEL. Mawer Investment Management Ltd. grew its holdings in Shell by 19.9% during the fourth quarter. Mawer Investment Management Ltd. now owns 5,325,276 shares of the energy company’s stock worth $350,403,000 after purchasing an additional 885,069 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Shell by 10.7% during the third quarter. Wellington Management Group LLP now owns 8,742,878 shares of the energy company’s stock worth $562,866,000 after acquiring an additional 848,104 shares during the period. CIBC Private Wealth Group LLC boosted its holdings in shares of Shell by 130.7% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,400,186 shares of the energy company’s stock worth $92,132,000 after acquiring an additional 793,136 shares during the period. Sapient Capital LLC bought a new stake in shares of Shell during the fourth quarter worth approximately $35,420,000. Finally, Fisher Asset Management LLC boosted its holdings in shares of Shell by 2.1% during the fourth quarter. Fisher Asset Management LLC now owns 22,871,131 shares of the energy company’s stock worth $1,504,920,000 after acquiring an additional 477,432 shares during the period. Institutional investors own 28.60% of the company’s stock.

Analyst Upgrades and Downgrades

SHEL has been the subject of a number of research analyst reports. Wells Fargo & Company reduced their price objective on Shell from $91.00 to $90.00 and set an “overweight” rating for the company in a report on Friday, June 21st. Argus boosted their price target on Shell from $77.00 to $79.00 and gave the company a “buy” rating in a research note on Thursday, June 6th. Finally, TD Securities boosted their price target on Shell from $74.00 to $81.00 and gave the company a “buy” rating in a research note on Friday, May 3rd. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Shell currently has a consensus rating of “Moderate Buy” and an average target price of $69.25.

Shell Price Performance

SHEL traded up $0.35 during trading on Wednesday, hitting $72.93. 1,989,323 shares of the stock traded hands, compared to its average volume of 4,304,553. Shell plc has a twelve month low of $59.51 and a twelve month high of $74.61. The company has a market cap of $231.90 billion, a price-to-earnings ratio of 13.46, a PEG ratio of 1.83 and a beta of 0.59. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.42 and a quick ratio of 1.14. The business has a 50 day moving average price of $71.53 and a 200 day moving average price of $67.97.

Shell (NYSE:SHEL) last announced its quarterly earnings data on Thursday, May 2nd. The energy company reported $2.38 EPS for the quarter, beating the consensus estimate of $1.87 by $0.51. Shell had a net margin of 5.83% and a return on equity of 13.83%. The business had revenue of $74.70 billion during the quarter, compared to the consensus estimate of $88.03 billion. Equities research analysts forecast that Shell plc will post 8.55 earnings per share for the current fiscal year.

Shell Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 24th. Stockholders of record on Friday, May 17th were issued a dividend of $0.688 per share. The ex-dividend date of this dividend was Thursday, May 16th. This is an increase from Shell’s previous quarterly dividend of $0.66. This represents a $2.75 annualized dividend and a dividend yield of 3.77%. Shell’s dividend payout ratio is 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.