Shell plc (NYSE:SHEL) Shares Sold by Gabelli Funds LLC

Gabelli Funds LLC lessened its position in shares of Shell plc (NYSE:SHEL) by 1.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 414,400 shares of the energy company’s stock after selling 5,000 shares during the quarter. Gabelli Funds LLC’s holdings in Shell were worth $27,781,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Valley National Advisers Inc. increased its position in shares of Shell by 217.7% during the fourth quarter. Valley National Advisers Inc. now owns 413 shares of the energy company’s stock valued at $27,000 after acquiring an additional 283 shares during the last quarter. Beaird Harris Wealth Management LLC lifted its stake in Shell by 611.1% during the fourth quarter. Beaird Harris Wealth Management LLC now owns 448 shares of the energy company’s stock worth $29,000 after purchasing an additional 385 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Shell by 90.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 495 shares of the energy company’s stock valued at $33,000 after buying an additional 235 shares in the last quarter. Fairman Group LLC purchased a new stake in shares of Shell in the 4th quarter valued at $45,000. Finally, Key Financial Inc boosted its holdings in Shell by 63.7% during the 4th quarter. Key Financial Inc now owns 789 shares of the energy company’s stock valued at $52,000 after acquiring an additional 307 shares during the period. 28.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SHEL has been the topic of several research reports. Argus increased their price target on shares of Shell from $77.00 to $79.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. Wolfe Research assumed coverage on shares of Shell in a research report on Thursday, July 18th. They issued a “peer perform” rating for the company. 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 target price on Shell from $91.00 to $90.00 and set an “overweight” rating for the company in a research note on Friday, June 21st. Finally, TD Securities increased their price target on Shell from $74.00 to $81.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $73.40.

Shell Stock Down 0.1 %

Shares of NYSE:SHEL traded down $0.04 on Friday, hitting $72.05. 2,821,584 shares of the company’s stock were exchanged, compared to its average volume of 2,886,992. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.14 and a current ratio of 1.42. Shell plc has a 1-year low of $59.51 and a 1-year high of $74.61. The company has a market capitalization of $227.83 billion, a PE ratio of 13.29, a P/E/G ratio of 1.64 and a beta of 0.59. The firm’s 50-day moving average is $71.44 and its 200 day moving average is $68.54.

Shell (NYSE:SHEL) last announced its quarterly earnings results on Thursday, May 2nd. The energy company reported $2.38 EPS for the quarter, beating the consensus estimate of $1.87 by $0.51. The company had revenue of $74.70 billion for the quarter, compared to analyst estimates of $88.03 billion. Shell had a net margin of 5.83% and a return on equity of 13.83%. Sell-side analysts predict that Shell plc will post 8.53 EPS for the current year.

Shell Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 24th. Shareholders of record on Friday, May 17th were paid a $0.688 dividend. This represents a $2.75 annualized dividend and a yield of 3.82%. The ex-dividend date of this dividend was Thursday, May 16th. This is an increase from Shell’s previous quarterly dividend of $0.66. Shell’s dividend payout ratio is currently 50.74%.

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 to deliver gas to market.