Old Port Advisors Purchases New Shares in Shell plc (NYSE:SHEL)

Old Port Advisors bought a new stake in Shell plc (NYSE:SHEL) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 3,431 shares of the energy company’s stock, valued at approximately $248,000.

Several other institutional investors have also modified their holdings of SHEL. 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 period. Triad Wealth Partners LLC purchased a new position in shares of Shell in the second quarter worth about $31,000. Allspring Global Investments Holdings LLC lifted its stake in shares of Shell by 90.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 495 shares of the energy company’s stock worth $33,000 after buying an additional 235 shares in the last quarter. Fairman Group LLC purchased a new position in shares of Shell in the fourth quarter worth about $45,000. Finally, LRI Investments LLC purchased a new position in shares of Shell in the first quarter worth about $47,000. Institutional investors and hedge funds own 28.60% of the company’s stock.

Shell Stock Performance

SHEL stock traded up $0.20 on Friday, hitting $72.68. The company’s stock had a trading volume of 3,021,388 shares, compared to its average volume of 4,160,733. The firm has a 50 day moving average of $71.74 and a two-hundred day moving average of $69.53. Shell plc has a 1 year low of $60.13 and a 1 year high of $74.61. The stock has a market cap of $229.82 billion, a price-to-earnings ratio of 13.41, a price-to-earnings-growth ratio of 1.59 and a beta of 0.59. The company has a current ratio of 1.41, a quick ratio of 1.12 and a debt-to-equity ratio of 0.35.

Shell (NYSE:SHEL) last released its quarterly earnings results on Thursday, August 1st. The energy company reported $1.97 EPS for the quarter, beating the consensus estimate of $1.82 by $0.15. The firm had revenue of $75.06 billion during the quarter, compared to the consensus estimate of $88.62 billion. Shell had a net margin of 5.97% and a return on equity of 14.56%. During the same quarter in the prior year, the firm earned $1.50 EPS. Equities analysts predict that Shell plc will post 8.63 EPS for the current fiscal year.

Shell Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 23rd. Shareholders of record on Friday, August 16th will be given a dividend of $0.688 per share. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.75 dividend on an annualized basis and a yield of 3.79%. Shell’s payout ratio is currently 50.74%.

Analysts Set New Price Targets

SHEL has been the topic of several research reports. Royal Bank of Canada raised shares of Shell to a “moderate buy” rating in a research note on Tuesday, July 30th. Berenberg Bank upgraded shares of Shell to a “strong-buy” rating in a research report on Monday, August 5th. Wolfe Research initiated coverage on shares of Shell in a report on Thursday, July 18th. They set a “peer perform” rating for the company. Argus boosted their price target on shares of Shell from $77.00 to $79.00 and gave the stock a “buy” rating in a report on Thursday, June 6th. Finally, Wells Fargo & Company lowered their price target 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. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $85.00.

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.