Pictet Asset Management SA reduced its holdings in Shell plc (NYSE:SHEL – Free Report) by 63.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 100,262 shares of the energy company’s stock after selling 172,370 shares during the period. Pictet Asset Management SA’s holdings in Shell were worth $5,769,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Coppell Advisory Solutions LLC raised its stake in shares of Shell by 4.9% during the 1st quarter. Coppell Advisory Solutions LLC now owns 21,195 shares of the energy company’s stock valued at $1,219,000 after buying an additional 989 shares during the last quarter. Keybank National Association OH lifted its holdings in Shell by 1.0% in the 1st quarter. Keybank National Association OH now owns 87,841 shares of the energy company’s stock valued at $5,054,000 after purchasing an additional 848 shares in the last quarter. Banco Santander S.A. boosted its holdings in shares of Shell by 149.9% during the 1st quarter. Banco Santander S.A. now owns 107,431 shares of the energy company’s stock worth $6,182,000 after purchasing an additional 64,441 shares during the last quarter. Wade G W & Inc. grew its holdings in Shell by 5.2% in the 1st quarter. Wade G W & Inc. now owns 11,932 shares of the energy company’s stock valued at $687,000 after buying an additional 591 shares in the last quarter. Finally, Altman Advisors Inc. acquired a new stake in Shell during the first quarter worth about $233,130,000. Hedge funds and other institutional investors own 8.52% of the company’s stock.
Wall Street Analyst Weigh In
A number of research firms have recently weighed in on SHEL. Morgan Stanley upgraded Shell from an “underweight” rating to an “equal weight” rating in a report on Wednesday, June 21st. Royal Bank of Canada dropped their price objective on Shell from 28.00 to 27.00 and set an “outperform” rating for the company in a research note on Friday, August 11th. Finally, Piper Sandler decreased their target price on Shell from $75.00 to $67.00 in a research note on Tuesday, June 13th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $1,992.17.
Shell Trading Down 0.3 %
NYSE:SHEL opened at $60.74 on Thursday. The company has a current ratio of 1.46, a quick ratio of 1.18 and a debt-to-equity ratio of 0.38. The firm has a market cap of $204.55 billion, a PE ratio of 7.43, a price-to-earnings-growth ratio of 0.76 and a beta of 0.67. The stock has a fifty day moving average price of $61.01 and a 200 day moving average price of $60.14. Shell plc has a 12-month low of $46.74 and a 12-month high of $63.69.
Shell (NYSE:SHEL – Get Free Report) last released its earnings results on Thursday, July 27th. The energy company reported $1.50 earnings per share for the quarter, missing analysts’ consensus estimates of $1.59 by ($0.09). Shell had a return on equity of 17.65% and a net margin of 7.94%. The firm had revenue of $76.02 billion for the quarter. During the same quarter last year, the firm earned $3.04 EPS. Sell-side analysts anticipate that Shell plc will post 8.56 earnings per share for the current fiscal year.
Shell Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 18th. Investors of record on Friday, August 11th will be issued a $0.662 dividend. This represents a $2.65 annualized dividend and a yield of 4.36%. The ex-dividend date of this dividend is Thursday, August 10th. This is a positive change from Shell’s previous quarterly dividend of $0.58. Shell’s dividend payout ratio is 32.40%.
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 necessary to deliver gas to market.
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