First Eagle Investment Management LLC Boosts Stock Holdings in Shell plc (NYSE:SHEL)

First Eagle Investment Management LLC boosted its position in shares of Shell plc (NYSE:SHEL) by 10.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 411,909 shares of the energy company’s stock after buying an additional 38,426 shares during the quarter. First Eagle Investment Management LLC’s holdings in Shell were worth $29,732,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hsbc Holdings PLC increased its stake in shares of Shell by 46.0% in the 2nd quarter. Hsbc Holdings PLC now owns 42,220 shares of the energy company’s stock valued at $3,048,000 after purchasing an additional 13,299 shares in the last quarter. Blair William & Co. IL increased its position in shares of Shell by 0.6% in the second quarter. Blair William & Co. IL now owns 67,671 shares of the energy company’s stock valued at $4,884,000 after buying an additional 395 shares in the last quarter. Zega Financial LLC purchased a new position in shares of Shell during the 2nd quarter valued at approximately $219,000. Vanguard Personalized Indexing Management LLC increased its holdings in Shell by 10.6% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 104,637 shares of the energy company’s stock worth $7,455,000 after acquiring an additional 10,020 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV lifted its holdings in Shell by 1.7% during the second quarter. Mercer Global Advisors Inc. ADV now owns 205,040 shares of the energy company’s stock valued at $14,800,000 after purchasing an additional 3,374 shares in the last quarter. Hedge funds and other institutional investors own 28.60% of the company’s stock.

Shell Price Performance

Shell stock opened at $68.16 on Thursday. The company has a current ratio of 1.41, a quick ratio of 1.12 and a debt-to-equity ratio of 0.35. The stock has a market cap of $215.53 billion, a P/E ratio of 12.58, a PEG ratio of 1.51 and a beta of 0.57. The company has a 50-day moving average price of $71.05 and a 200 day moving average price of $70.57. Shell plc has a 12-month low of $60.34 and a 12-month high of $74.61.

Shell (NYSE:SHEL) last released its quarterly earnings data on Thursday, August 1st. The energy company reported $1.97 EPS for the quarter, beating 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 firm had revenue of $75.06 billion for the quarter, compared to analysts’ expectations of $88.62 billion. During the same period in the prior year, the firm posted $1.50 earnings per share. Sell-side analysts anticipate that Shell plc will post 8.61 earnings per share for the current year.

Shell Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 23rd. Shareholders of record on Friday, August 16th will be paid a dividend of $0.688 per share. This represents a $2.75 annualized dividend and a yield of 4.04%. The ex-dividend date is Friday, August 16th. Shell’s dividend payout ratio (DPR) is presently 50.74%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on SHEL shares. Royal Bank of Canada raised shares of Shell to a “moderate buy” rating in a research note on Tuesday, July 30th. Berenberg Bank raised Shell to a “strong-buy” rating in a research note on Monday, August 5th. Scotiabank decreased their price objective on Shell from $95.00 to $90.00 and set a “sector outperform” rating on the stock in a report on Friday, July 12th. Wells Fargo & Company reduced their target price on shares of Shell from $91.00 to $90.00 and set an “overweight” rating for the company in a research report on Friday, June 21st. Finally, Argus upped their price objective on shares of Shell from $77.00 to $79.00 and gave the company a “buy” rating in a research note on Thursday, June 6th. Two research 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 company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $85.00.

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.