Shell plc (NYSE:SHEL) Shares Sold by Pinnacle Bancorp Inc.

Pinnacle Bancorp Inc. lowered its holdings in Shell plc (NYSE:SHEL) by 23.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,740 shares of the energy company’s stock after selling 539 shares during the quarter. Pinnacle Bancorp Inc.’s holdings in Shell were worth $117,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in SHEL. Mawer Investment Management Ltd. lifted its holdings in Shell by 19.9% during the fourth quarter. Mawer Investment Management Ltd. now owns 5,325,276 shares of the energy company’s stock valued at $350,403,000 after purchasing an additional 885,069 shares in the last quarter. Wellington Management Group LLP increased its position in Shell by 10.7% during the third quarter. Wellington Management Group LLP now owns 8,742,878 shares of the energy company’s stock worth $562,866,000 after purchasing an additional 848,104 shares during the last quarter. L1 Capital Pty Ltd increased its position in shares of Shell by 188.7% during the third quarter. L1 Capital Pty Ltd now owns 1,224,617 shares of the energy company’s stock valued at $78,841,000 after acquiring an additional 800,365 shares during the last quarter. CIBC Private Wealth Group LLC increased its position in shares of Shell by 130.7% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,400,186 shares of the energy company’s stock valued at $92,132,000 after acquiring an additional 793,136 shares during the last quarter. Finally, Lazard Asset Management LLC increased its position in shares of Shell by 7,154.1% during the third quarter. Lazard Asset Management LLC now owns 785,622 shares of the energy company’s stock valued at $50,578,000 after acquiring an additional 774,792 shares during the last quarter. Institutional investors and hedge funds own 28.60% of the company’s stock.

Shell Stock Up 1.0 %

SHEL stock opened at $72.18 on Friday. Shell plc has a twelve month low of $58.14 and a twelve month high of $74.61. The company has a current ratio of 1.42, a quick ratio of 1.14 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $229.51 billion, a P/E ratio of 13.32, a PEG ratio of 1.80 and a beta of 0.60. The firm has a 50 day simple moving average of $71.51 and a 200-day simple moving average of $67.54.

Shell (NYSE:SHEL) last released its quarterly earnings results on Thursday, May 2nd. The energy company reported $2.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.87 by $0.51. Shell had a net margin of 5.83% and a return on equity of 13.83%. The business had revenue of $74.70 billion during the quarter, compared to the consensus estimate of $88.03 billion. On average, equities research analysts predict that Shell plc will post 8.55 earnings per share for the current fiscal year.

Shell Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 24th. Stockholders of record on Friday, May 17th were issued a $0.688 dividend. The ex-dividend date of this dividend was Thursday, May 16th. This is a positive change from Shell’s previous quarterly dividend of $0.66. This represents a $2.75 annualized dividend and a dividend yield of 3.81%. Shell’s payout ratio is 50.74%.

Analyst Upgrades and Downgrades

SHEL has been the subject of a number of research reports. Argus lifted their price objective on shares of Shell from $77.00 to $79.00 and gave the company a “buy” rating in a report on Thursday, June 6th. Wells Fargo & Company lowered 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, TD Securities boosted their price objective on shares of Shell from $74.00 to $81.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus 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.