Everett Harris & Co. CA Boosts Holdings in Shell plc (NYSE:SHEL)

Everett Harris & Co. CA boosted its position in shares of Shell plc (NYSE:SHEL) by 24.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 168,701 shares of the energy company’s stock after acquiring an additional 32,763 shares during the period. Everett Harris & Co. CA’s holdings in Shell were worth $11,310,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its holdings in shares of Shell by 64.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 71,977 shares of the energy company’s stock worth $4,634,000 after buying an additional 28,165 shares during the last quarter. Rhumbline Advisers raised its holdings in shares of Shell by 1.4% in the third quarter. Rhumbline Advisers now owns 27,123 shares of the energy company’s stock worth $1,746,000 after buying an additional 385 shares during the last quarter. Gotham Asset Management LLC purchased a new position in shares of Shell in the third quarter worth $1,787,000. Truist Financial Corp raised its holdings in shares of Shell by 20.9% in the third quarter. Truist Financial Corp now owns 270,414 shares of the energy company’s stock worth $17,409,000 after buying an additional 46,673 shares during the last quarter. Finally, Glenmede Trust Co. NA raised its holdings in shares of Shell by 17.7% in the third quarter. Glenmede Trust Co. NA now owns 150,903 shares of the energy company’s stock worth $9,715,000 after buying an additional 22,709 shares during the last quarter. Hedge funds and other institutional investors own 28.60% of the company’s stock.

Analyst Upgrades and Downgrades

SHEL has been the subject of several recent research reports. Argus raised their target price on shares of Shell from $77.00 to $79.00 and gave the stock a “buy” rating in a report on Thursday, June 6th. Wells Fargo & Company reduced their target price on shares of Shell from $91.00 to $90.00 and set an “overweight” rating for the company in a report on Friday, June 21st. Finally, TD Securities raised their price target on shares of Shell from $74.00 to $81.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $69.25.

Shell Price Performance

SHEL traded down $0.03 on Thursday, reaching $73.01. 1,570,244 shares of the company’s stock were exchanged, compared to its average volume of 3,434,868. The stock has a market cap of $232.15 billion, a PE ratio of 13.47, a P/E/G ratio of 1.84 and a beta of 0.59. Shell plc has a twelve month low of $58.14 and a twelve month high of $74.61. The stock’s fifty day moving average price is $71.52 and its 200-day moving average price is $67.78. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.42 and a quick ratio of 1.14.

Shell (NYSE:SHEL) last issued its earnings results on Thursday, May 2nd. The energy company reported $2.38 EPS for the quarter, topping analysts’ consensus estimates of $1.87 by $0.51. Shell had a net margin of 5.83% and a return on equity of 13.83%. The company had revenue of $74.70 billion for the quarter, compared to the consensus estimate of $88.03 billion. Sell-side analysts expect that Shell plc will post 8.55 EPS for the current year.

Shell Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 24th. Stockholders of record on Friday, May 17th were paid a $0.688 dividend. This represents a $2.75 dividend on an annualized basis and a dividend yield of 3.77%. This is an increase 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 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.