Global Financial Private Client LLC Trims Position in Shell plc (NYSE:SHEL)

Global Financial Private Client LLC cut its stake in shares of Shell plc (NYSE:SHEL) by 55.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 532 shares of the energy company’s stock after selling 673 shares during the period. Global Financial Private Client LLC’s holdings in Shell were worth $36,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Valley National Advisers Inc. raised its stake in shares of Shell by 217.7% during the 4th quarter. Valley National Advisers Inc. now owns 413 shares of the energy company’s stock worth $27,000 after buying an additional 283 shares during the last quarter. Beaird Harris Wealth Management LLC grew its position in shares of Shell by 611.1% in the fourth quarter. Beaird Harris Wealth Management LLC now owns 448 shares of the energy company’s stock valued at $29,000 after purchasing an additional 385 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Shell by 90.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 495 shares of the energy company’s stock worth $33,000 after purchasing an additional 235 shares during the last quarter. Fairman Group LLC acquired a new stake in Shell during the 4th quarter valued at $45,000. Finally, LRI Investments LLC purchased a new stake in shares of Shell in the first quarter valued at $47,000. 28.60% of the stock is owned by institutional investors and hedge funds.

Shell Trading Up 1.7 %

Shares of NYSE:SHEL traded up $1.25 during trading on Wednesday, reaching $73.22. 4,189,437 shares of the stock were exchanged, compared to its average volume of 4,185,913. Shell plc has a 12-month low of $59.51 and a 12-month high of $74.61. The firm’s 50-day moving average price is $71.45 and its 200 day moving average price is $68.73. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.14 and a current ratio of 1.42. The firm has a market cap of $231.53 billion, a price-to-earnings ratio of 13.51, a price-to-earnings-growth ratio of 1.64 and a beta of 0.59.

Shell (NYSE:SHEL) last posted its earnings results on Thursday, May 2nd. The energy company reported $2.38 earnings per share 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 for the quarter, compared to analyst estimates of $88.03 billion. On average, sell-side analysts anticipate that Shell plc will post 8.53 earnings per share for the current fiscal year.

Shell Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 24th. Stockholders of record on Friday, May 17th were given a dividend of $0.688 per share. This represents a $2.75 dividend on an annualized basis and a dividend yield of 3.76%. This is a positive change from Shell’s previous quarterly dividend of $0.66. The ex-dividend date of this dividend was Thursday, May 16th. Shell’s payout ratio is presently 50.74%.

Analyst Ratings Changes

A number of research firms have issued reports on SHEL. TD Securities upped their target price on shares of Shell from $74.00 to $81.00 and gave the company a “buy” rating in a report on Friday, May 3rd. Wells Fargo & Company reduced 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. Wolfe Research began coverage on Shell in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Argus raised their price target on Shell from $77.00 to $79.00 and gave the stock a “buy” rating in a research note on Thursday, June 6th. Finally, Scotiabank dropped their price objective 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. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $73.40.

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.