Federated Hermes Inc. Reduces Stake in Shell plc (NYSE:SHEL)

Federated Hermes Inc. lowered its position in Shell plc (NYSE:SHEL) by 1.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 129,475 shares of the energy company’s stock after selling 1,971 shares during the period. Federated Hermes Inc.’s holdings in Shell were worth $9,346,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also bought and sold shares of SHEL. Hobbs Group Advisors LLC purchased a new stake in Shell in the 2nd quarter worth approximately $26,000. Beaird Harris Wealth Management LLC boosted its position in Shell by 611.1% in the 4th quarter. Beaird Harris Wealth Management LLC now owns 448 shares of the energy company’s stock worth $29,000 after purchasing an additional 385 shares in the last quarter. Triad Wealth Partners LLC purchased a new stake in Shell in the 2nd quarter worth approximately $31,000. Fairman Group LLC purchased a new stake in Shell in the 4th quarter worth approximately $45,000. Finally, LRI Investments LLC raised its stake in shares of Shell by 3,856.3% during the 2nd quarter. LRI Investments LLC now owns 633 shares of the energy company’s stock worth $46,000 after buying an additional 617 shares during the period. Hedge funds and other institutional investors own 28.60% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on SHEL. Royal Bank of Canada raised Shell to a “moderate buy” rating in a research note on Tuesday, July 30th. Scotiabank reduced their target price on Shell from $95.00 to $90.00 and set a “sector outperform” rating for the company in a research note on Friday, July 12th. Berenberg Bank raised Shell to a “strong-buy” rating in a research note on Monday, August 5th. Argus upped their target price on Shell from $77.00 to $79.00 and gave the stock a “buy” rating in a research note on Thursday, June 6th. Finally, Wells Fargo & Company reduced their price objective on Shell from $91.00 to $90.00 and set an “overweight” rating for the company in a research note on Friday, June 21st. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $85.00.

Shell Stock Up 0.1 %

Shares of SHEL opened at $68.15 on Wednesday. Shell plc has a 52-week low of $60.34 and a 52-week high of $74.61. The company has a market capitalization of $213.36 billion, a PE ratio of 12.57, a price-to-earnings-growth ratio of 1.51 and a beta of 0.57. The stock has a fifty day simple moving average of $71.14 and a two-hundred day simple moving average of $70.59. The company has a quick ratio of 1.12, a current ratio of 1.41 and a debt-to-equity ratio of 0.35.

Shell (NYSE:SHEL) last issued its earnings results on Thursday, August 1st. The energy company reported $1.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.82 by $0.15. Shell had a return on equity of 14.56% and a net margin of 5.97%. The business had revenue of $75.06 billion during the quarter, compared to the consensus estimate of $88.62 billion. During the same period last year, the company earned $1.50 EPS. As a group, equities analysts forecast that Shell plc will post 8.61 EPS for the current year.

Shell Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 23rd. Stockholders of record on Friday, August 16th will be issued a dividend of $0.688 per share. This represents a $2.75 dividend on an annualized basis and a dividend yield of 4.04%. The ex-dividend date of this dividend is Friday, August 16th. Shell’s dividend payout ratio is presently 50.74%.

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.