Shell plc to Issue Quarterly Dividend of $0.69 (NYSE:SHEL)

Shell plc (NYSE:SHEL) declared a quarterly dividend on Friday, November 1st,Wall Street Journal reports. Investors of record on Friday, November 15th will be paid a dividend of 0.688 per share by the energy company on Thursday, December 19th. This represents a $2.75 annualized dividend and a yield of 4.20%. The ex-dividend date is Friday, November 15th.

Shell has a dividend payout ratio of 35.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Shell to earn $8.07 per share next year, which means the company should continue to be able to cover its $2.75 annual dividend with an expected future payout ratio of 34.1%.

Shell Trading Down 0.1 %

Shares of SHEL stock opened at $65.49 on Thursday. The firm has a 50-day moving average price of $67.41 and a 200 day moving average price of $70.23. Shell has a twelve month low of $60.34 and a twelve month high of $74.61. The company has a market capitalization of $203.81 billion, a price-to-earnings ratio of 13.48, a PEG ratio of 1.98 and a beta of 0.56. The company has a current ratio of 1.40, a quick ratio of 1.13 and a debt-to-equity ratio of 0.34.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on SHEL shares. Wells Fargo & Company boosted their target price on shares of Shell from $84.00 to $88.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Citigroup raised shares of Shell to a “hold” rating in a research note on Wednesday, October 2nd. Barclays raised shares of Shell to a “strong-buy” rating in a research note on Wednesday, October 2nd. Berenberg Bank raised shares of Shell to a “strong-buy” rating in a research note on Monday, August 5th. Finally, Sanford C. Bernstein raised shares of Shell to a “strong-buy” rating in a research note on Friday, October 11th. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $82.00.

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.