Pendal Group Ltd grew its holdings in shares of Shell plc (NYSE:SHEL – Get Rating) by 11.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,145,378 shares of the energy company's stock after acquiring an additional 907,223 shares during the period. Shell comprises approximately 2.3% of Pendal Group Ltd's holdings, making the stock its 8th largest position. Pendal Group Ltd owned about 0.24% of Shell worth $237,974,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of the company. Kozak & Associates Inc. purchased a new stake in Shell in the 4th quarter worth $569,000. Park National Corp OH purchased a new position in shares of Shell in the 1st quarter valued at $1,721,000. Private Asset Management Inc. purchased a new position in shares of Shell in the 1st quarter valued at $316,000. Confluence Investment Management LLC purchased a new position in Shell during the 1st quarter worth $905,000. Finally, M&R Capital Management Inc. purchased a new position in Shell during the 1st quarter worth $101,000. Institutional investors own 7.65% of the company's stock.
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Wall Street Analysts Forecast Growth
A number of analysts have commented on SHEL shares. Deutsche Bank Aktiengesellschaft lifted their price target on Shell from GBX 2,551 ($30.82) to GBX 2,779 ($33.58) in a research report on Wednesday, July 6th. ING Group upgraded Shell from a "hold" rating to a "buy" rating in a research note on Tuesday, July 12th. Royal Bank of Canada upped their price target on Shell from GBX 3,100 ($37.46) to GBX 3,200 ($38.67) in a research report on Friday, July 29th. HSBC dropped their price target on Shell from GBX 2,700 ($32.62) to GBX 2,550 ($30.81) in a research report on Wednesday, July 20th. Finally, Credit Suisse Group assumed coverage on Shell in a report on Thursday, June 9th. They issued an "outperform" rating on the stock. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $2,134.13.
Shell Trading Up 2.6 %
Shares of SHEL traded up $1.34 during mid-day trading on Tuesday, hitting $53.67. The company had a trading volume of 151,876 shares, compared to its average volume of 5,245,217. The stock has a market cap of $205.29 billion, a PE ratio of 5.58, a P/E/G ratio of 0.47 and a beta of 0.66. The company has a quick ratio of 1.09, a current ratio of 1.39 and a debt-to-equity ratio of 0.40. Shell plc has a 1-year low of $44.90 and a 1-year high of $61.67. The business's 50-day simple moving average is $52.44 and its 200-day simple moving average is $53.84.
Shell (NYSE:SHEL – Get Rating) last posted its earnings results on Thursday, July 28th. The energy company reported $3.04 EPS for the quarter, topping analysts' consensus estimates of $2.91 by $0.13. The business had revenue of $103.08 billion for the quarter. Shell had a net margin of 10.70% and a return on equity of 17.39%. Sell-side analysts forecast that Shell plc will post 11.57 earnings per share for the current year.
Shell Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Monday, September 19th. Stockholders of record on Friday, August 12th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 3.73%. The ex-dividend date was Thursday, August 11th. Shell's dividend payout ratio (DPR) is 21.05%.
Shell 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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