MAI Capital Management reduced its holdings in Shell plc (NYSE:SHEL – Get Rating) by 34.4% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 10,775 shares of the energy company's stock after selling 5,643 shares during the quarter. MAI Capital Management's holdings in Shell were worth $563,000 as of its most recent filing with the SEC.
Several other hedge funds have also made changes to their positions in SHEL. Kozak & Associates Inc. acquired a new position in Shell during the 4th quarter valued at about $569,000. Park National Corp OH acquired a new stake in Shell during the first quarter valued at approximately $1,721,000. Private Asset Management Inc. bought a new stake in Shell during the first quarter worth approximately $316,000. Confluence Investment Management LLC bought a new position in shares of Shell in the first quarter valued at $905,000. Finally, M&R Capital Management Inc. acquired a new stake in shares of Shell during the 1st quarter valued at $101,000. Institutional investors own 7.65% of the company's stock.
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Wall Street Analysts Forecast Growth
Several equities research analysts have recently commented on the company. HSBC reduced their target price on Shell from GBX 2,700 ($32.62) to GBX 2,550 ($30.81) in a report on Wednesday, July 20th. JPMorgan Chase & Co. lifted their target price on shares of Shell from GBX 2,850 ($34.44) to GBX 3,000 ($36.25) in a research report on Friday, July 15th. Royal Bank of Canada upped their price target on shares of Shell from GBX 3,100 ($37.46) to GBX 3,200 ($38.67) in a research report on Friday, July 29th. ING Group upgraded shares of Shell from a "hold" rating to a "buy" rating in a research report on Tuesday, July 12th. Finally, Credit Suisse Group initiated coverage on Shell in a research report on Thursday, June 9th. They issued an "outperform" rating for the company. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, Shell presently has an average rating of "Buy" and an average price target of $2,134.13.
Shell Stock Performance
NYSE:SHEL opened at $49.76 on Friday. Shell plc has a 52-week low of $44.90 and a 52-week high of $61.67. The company has a market cap of $190.33 billion, a price-to-earnings ratio of 5.24, a PEG ratio of 0.47 and a beta of 0.66. The firm's 50-day moving average is $52.42 and its 200-day moving average is $53.81. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.09 and a current ratio of 1.39.
Shell (NYSE:SHEL – Get Rating) last posted its quarterly earnings results on Thursday, July 28th. The energy company reported $3.04 EPS for the quarter, beating the consensus estimate of $2.91 by $0.13. Shell had a return on equity of 17.39% and a net margin of 10.70%. The firm had revenue of $103.08 billion during the quarter. Equities research analysts anticipate that Shell plc will post 11.57 earnings per share for the current year.
Shell Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, September 19th. Shareholders of record on Friday, August 12th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 4.02%. The ex-dividend date was Thursday, August 11th. Shell's dividend payout ratio (DPR) is presently 21.05%.
Shell Company Profile
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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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