Altman Advisors Inc. Decreases Holdings in Shell plc (NYSE:SHEL)

Altman Advisors Inc. reduced its stake in Shell plc (NYSE:SHEL) by 1.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 23,195 shares of the energy company’s stock after selling 242 shares during the quarter. Altman Advisors Inc.’s holdings in Shell were worth $1,674,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mondrian Investment Partners LTD boosted its holdings in shares of Shell by 83.2% in the 1st quarter. Mondrian Investment Partners LTD now owns 2,187,872 shares of the energy company’s stock worth $146,675,000 after purchasing an additional 993,342 shares during the period. CIBC Private Wealth Group LLC grew its stake 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 last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Shell by 13.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,715,078 shares of the energy company’s stock valued at $450,180,000 after buying an additional 772,736 shares during the last quarter. Raymond James & Associates increased its holdings in Shell by 65.7% in the 2nd quarter. Raymond James & Associates now owns 1,698,247 shares of the energy company’s stock worth $122,579,000 after buying an additional 673,624 shares during the period. Finally, Senator Investment Group LP acquired a new position in shares of Shell in the 1st quarter valued at about $42,775,000. 28.60% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Wolfe Research started coverage on Shell in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Royal Bank of Canada raised shares of Shell to a “moderate buy” rating in a research report on Tuesday, July 30th. Berenberg Bank raised shares of Shell to a “strong-buy” rating in a research report on Monday, August 5th. Wells Fargo & Company lowered their price target on Shell from $91.00 to $90.00 and set an “overweight” rating on the stock in a report on Friday, June 21st. Finally, Scotiabank reduced 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 report on Friday, July 12th. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $85.00.

Shell Stock Performance

Shares of SHEL stock opened at $66.21 on Thursday. The company has a 50 day moving average price of $71.70 and a 200 day moving average price of $70.44. Shell plc has a one year low of $60.34 and a one year high of $74.61. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.12 and a current ratio of 1.41. The firm has a market capitalization of $209.36 billion, a price-to-earnings ratio of 12.22, a price-to-earnings-growth ratio of 1.49 and a beta of 0.57.

Shell (NYSE:SHEL) last released its quarterly earnings results on Thursday, August 1st. The energy company reported $1.97 EPS for the quarter, topping the consensus estimate of $1.82 by $0.15. Shell had a return on equity of 14.56% and a net margin of 5.97%. The business had revenue of $75.06 billion for the quarter, compared to analysts’ expectations of $88.62 billion. During the same quarter in the previous year, the firm posted $1.50 earnings per share. Sell-side analysts anticipate that Shell plc will post 8.54 EPS for the current year.

Shell Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 23rd. Investors of record on Friday, August 16th will be paid a dividend of $0.688 per share. The ex-dividend date is Friday, August 16th. This represents a $2.75 annualized dividend and a yield of 4.16%. Shell’s dividend payout ratio is currently 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.