Independence Bank of Kentucky Has $310,000 Stock Holdings in Shell plc (NYSE:SHEL)

Independence Bank of Kentucky lowered its position in Shell plc (NYSE:SHEL) by 23.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,628 shares of the energy company’s stock after selling 1,455 shares during the quarter. Independence Bank of Kentucky’s holdings in Shell were worth $310,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also added to or reduced their stakes in SHEL. VisionPoint Advisory Group LLC acquired a new position in shares of Shell during the third quarter worth $26,000. Rise Advisors LLC grew its position in shares of Shell by 84.4% in the 4th quarter. Rise Advisors LLC now owns 413 shares of the energy company’s stock valued at $27,000 after buying an additional 189 shares during the last quarter. Valley National Advisers Inc. raised its position in shares of Shell by 217.7% during the fourth quarter. Valley National Advisers Inc. now owns 413 shares of the energy company’s stock worth $27,000 after acquiring an additional 283 shares during the last quarter. Beaird Harris Wealth Management LLC lifted its stake 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 worth $29,000 after acquiring an additional 385 shares during the period. Finally, Fortis Group Advisors LLC acquired a new stake in Shell during the 3rd quarter valued at approximately $32,000. 28.60% of the stock is currently owned by institutional investors and hedge funds.

Shell Price Performance

Shares of NYSE SHEL opened at $72.18 on Friday. 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 firm’s 50-day moving average price is $71.51 and its 200-day moving average price is $67.57. The firm has a market capitalization of $229.51 billion, a P/E ratio of 13.32, a P/E/G ratio of 1.82 and a beta of 0.60. Shell plc has a 1-year low of $58.14 and a 1-year high of $74.61.

Shell (NYSE:SHEL) last announced its quarterly earnings data on Thursday, May 2nd. The energy company reported $2.38 EPS for the quarter, beating analysts’ consensus estimates of $1.87 by $0.51. Shell had a return on equity of 13.83% and a net margin of 5.83%. The firm had revenue of $74.70 billion during the quarter, compared to analysts’ expectations of $88.03 billion. Equities research analysts anticipate that Shell plc will post 8.55 earnings per share for the current fiscal year.

Shell Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Argus boosted their price target on shares of Shell from $77.00 to $79.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. Wells Fargo & Company decreased their price target on Shell from $91.00 to $90.00 and set an “overweight” rating for the company in a report on Friday, June 21st. Finally, TD Securities boosted their price objective on Shell from $74.00 to $81.00 and gave the company 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 given a buy rating to the company’s stock. Based on data from MarketBeat.com, Shell has an average rating of “Moderate Buy” and a consensus target price of $69.25.

Shell Company 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.