OLD National Bancorp IN Grows Position in Shell plc (NYSE:SHEL)

Posted by Defense World Staff on Jul 3rd, 2023

OLD National Bancorp IN raised its stake in Shell plc (NYSE:SHEL – Free Report) by 1.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 26,192 shares of the energy company’s stock after acquiring an additional 468 shares during the period. OLD National Bancorp IN’s holdings in Shell were worth $1,507,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Moneta Group Investment Advisors LLC lifted its position in Shell by 96,141.3% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 14,370,746 shares of the energy company’s stock valued at $818,414,000 after purchasing an additional 14,355,814 shares during the last quarter. Wellington Management Group LLP bought a new position in shares of Shell in the 1st quarter valued at about $677,739,000. Norges Bank purchased a new position in Shell in the fourth quarter worth about $658,071,000. Arrowstreet Capital Limited Partnership purchased a new stake in Shell during the first quarter valued at approximately $549,346,000. Finally, Capital Research Global Investors purchased a new position in shares of Shell in the 1st quarter worth approximately $262,275,000. Institutional investors own 8.52% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on SHEL. Piper Sandler reduced their target price on shares of Shell from $75.00 to $67.00 in a research note on Tuesday, June 13th. Morgan Stanley raised shares of Shell from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, June 21st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $2,525.14.

Shell Stock Up 0.9 %

Shares of NYSE SHEL opened at $60.38 on Monday. The firm has a market capitalization of $210.45 billion, a price-to-earnings ratio of 5.01, a PEG ratio of 0.72 and a beta of 0.66. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.19 and a current ratio of 1.47. Shell plc has a 52-week low of $44.90 and a 52-week high of $62.75. The stock has a 50 day moving average price of $59.69 and a 200 day moving average price of $59.20.

Shell (NYSE:SHEL – Free Report) last posted its earnings results on Thursday, May 4th. The energy company reported $2.78 earnings per share for the quarter, topping analysts’ consensus estimates of $2.30 by $0.48. The company had revenue of $89.02 billion during the quarter. Shell had a return on equity of 20.91% and a net margin of 11.20%. Sell-side analysts expect that Shell plc will post 8.94 earnings per share for the current year.

Shell Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 26th. Investors of record on Friday, May 19th were given a dividend of $0.575 per share. The ex-dividend date of this dividend was Thursday, May 18th. This represents a $2.30 dividend on an annualized basis and a yield of 3.81%. Shell’s payout ratio is 19.07%.

Shell Company Profile

(Free Report)

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 necessary to deliver gas to market.