Shell plc (NYSE:SHEL) Shares Sold by Janney Capital Management LLC

Janney Capital Management LLC reduced its holdings in shares of Shell plc (NYSE:SHEL) by 3.9% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 130,974 shares of the energy company’s stock after selling 5,293 shares during the quarter. Janney Capital Management LLC’s holdings in Shell were worth $8,781,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. VisionPoint Advisory Group LLC acquired a new position in shares of Shell in the third quarter valued at about $26,000. Rise Advisors LLC increased its holdings in shares of Shell by 84.4% in the fourth quarter. Rise Advisors LLC now owns 413 shares of the energy company’s stock valued at $27,000 after purchasing an additional 189 shares during the period. Valley National Advisers Inc. increased its holdings in shares of Shell by 217.7% in the fourth quarter. Valley National Advisers Inc. now owns 413 shares of the energy company’s stock valued at $27,000 after purchasing an additional 283 shares during the period. Beaird Harris Wealth Management LLC increased its holdings 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. Finally, Fortis Group Advisors LLC acquired a new position in shares of Shell in the third quarter valued at about $32,000. 28.60% of the stock is owned by institutional investors and hedge funds.

Shell Price Performance

SHEL stock traded up $0.24 during mid-day trading on Friday, reaching $73.25. 3,754,645 shares of the company’s stock were exchanged, compared to its average volume of 3,258,145. The company has a market cap of $232.92 billion, a price-to-earnings ratio of 13.51, a price-to-earnings-growth ratio of 1.84 and a beta of 0.59. The stock’s 50 day moving average is $71.52 and its 200 day moving average is $67.84. 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 plc has a 12-month low of $58.14 and a 12-month high of $74.61.

Shell (NYSE:SHEL) last issued its quarterly earnings results on Thursday, May 2nd. The energy company reported $2.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.87 by $0.51. The company had revenue of $74.70 billion for the quarter, compared to the consensus estimate of $88.03 billion. Shell had a return on equity of 13.83% and a net margin of 5.83%. On average, research 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. Investors of record on Friday, May 17th were issued a $0.688 dividend. This represents a $2.75 annualized dividend and a dividend yield of 3.76%. The ex-dividend date was Thursday, May 16th. This is a boost from Shell’s previous quarterly dividend of $0.66. Shell’s dividend payout ratio (DPR) is currently 50.74%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on SHEL shares. Wells Fargo & Company cut their price objective on Shell from $91.00 to $90.00 and set an “overweight” rating on the stock in a report on Friday, June 21st. Argus upped their target price on Shell from $77.00 to $79.00 and gave the stock a “buy” rating in a research note on Thursday, June 6th. Finally, TD Securities upped their target price on Shell from $74.00 to $81.00 and gave the stock a “buy” rating in a research note on Friday, May 3rd. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $69.25.

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.