Shell plc (NYSE:SHEL) Stock Holdings Cut by Gabelli Funds LLC

Gabelli Funds LLC lowered its position in shares of Shell plc (NYSE:SHEL) by 1.2% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 414,400 shares of the energy company’s stock after selling 5,000 shares during the period. Gabelli Funds LLC’s holdings in Shell were worth $27,781,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in SHEL. United Community Bank lifted its holdings in shares of Shell by 4.4% during the first quarter. United Community Bank now owns 3,315 shares of the energy company’s stock valued at $222,000 after purchasing an additional 139 shares during the last quarter. Marcum Wealth LLC increased its holdings in Shell by 3.7% in the first quarter. Marcum Wealth LLC now owns 4,223 shares of the energy company’s stock worth $283,000 after buying an additional 150 shares during the last quarter. Lester Murray Antman dba SimplyRich increased its position in Shell by 0.6% during the first quarter. Lester Murray Antman dba SimplyRich now owns 26,743 shares of the energy company’s stock worth $1,793,000 after buying an additional 153 shares during the last quarter. Jones Financial Companies Lllp raised its position in shares of Shell by 5.9% in the fourth quarter. Jones Financial Companies Lllp now owns 2,907 shares of the energy company’s stock valued at $191,000 after purchasing an additional 161 shares during the period. Finally, Summit Trail Advisors LLC grew its stake in Shell by 4.4% in the 1st quarter. Summit Trail Advisors LLC now owns 3,918 shares of the energy company’s stock valued at $263,000 after buying an additional 166 shares during the last quarter. Institutional investors and hedge funds own 28.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on SHEL. TD Securities upped their price target on shares of Shell from $74.00 to $81.00 and gave the company a “buy” rating in a report on Friday, May 3rd. Scotiabank decreased their price target on shares of Shell from $95.00 to $90.00 and set a “sector outperform” rating on the stock in a research report on Friday, July 12th. Argus increased their target price on shares of Shell from $77.00 to $79.00 and gave the company a “buy” rating in a research note on Thursday, June 6th. Wells Fargo & Company decreased their price target on shares of Shell from $91.00 to $90.00 and set an “overweight” rating on the stock in a research note on Friday, June 21st. Finally, Wolfe Research started coverage on shares of Shell in a report on Thursday, July 18th. They set a “peer perform” rating for the company. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Shell has an average rating of “Moderate Buy” and an average target price of $73.40.

Shell Price Performance

Shell stock traded down $0.04 during mid-day trading on Friday, hitting $72.05. 2,821,584 shares of the company were exchanged, compared to its average volume of 2,886,992. The company has a market capitalization of $227.83 billion, a PE ratio of 13.29, a price-to-earnings-growth ratio of 1.64 and a beta of 0.59. Shell plc has a 1-year low of $59.51 and a 1-year high of $74.61. The company has a quick ratio of 1.14, a current ratio of 1.42 and a debt-to-equity ratio of 0.37. The business has a fifty day moving average of $71.44 and a 200 day moving average of $68.54.

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 the consensus estimate of $1.87 by $0.51. The business had revenue of $74.70 billion for the quarter, compared to the consensus estimate of $88.03 billion. Shell had a net margin of 5.83% and a return on equity of 13.83%. As a group, sell-side analysts expect that Shell plc will post 8.53 earnings per share for the current year.

Shell Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 24th. Shareholders of record on Friday, May 17th were paid a $0.688 dividend. This is a positive change from Shell’s previous quarterly dividend of $0.66. The ex-dividend date was Thursday, May 16th. This represents a $2.75 annualized dividend and a yield of 3.82%. Shell’s dividend payout ratio is presently 50.74%.

Shell 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.