Ieq Capital LLC Has $2.41 Million Position in Shell plc (NYSE:SHEL)

Ieq Capital LLC lifted its holdings in Shell plc (NYSE:SHEL) by 65.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 33,343 shares of the energy company’s stock after buying an additional 13,185 shares during the quarter. Ieq Capital LLC’s holdings in Shell were worth $2,407,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in SHEL. Lazard Asset Management LLC raised its position in Shell by 21.0% in the 1st quarter. Lazard Asset Management LLC now owns 44,896 shares of the energy company’s stock worth $3,009,000 after purchasing an additional 7,779 shares during the last quarter. Raymond James & Associates raised its holdings in Shell by 65.7% during the 2nd quarter. Raymond James & Associates now owns 1,698,247 shares of the energy company’s stock worth $122,579,000 after purchasing an additional 673,624 shares during the last quarter. Cantor Fitzgerald Investment Advisors L.P. acquired a new position in Shell during the 4th quarter valued at about $22,628,000. Pingora Partners LLC acquired a new stake in shares of Shell during the 4th quarter worth approximately $1,306,000. Finally, Norden Group LLC raised its stake in shares of Shell by 2,843.4% during the first quarter. Norden Group LLC now owns 170,867 shares of the energy company’s stock worth $11,455,000 after buying an additional 165,062 shares during the last quarter. Institutional investors and hedge funds own 28.60% of the company’s stock.

Shell Stock Down 0.7 %

Shares of SHEL stock opened at $68.72 on Friday. The firm has a fifty day moving average of $70.88 and a 200-day moving average of $70.66. Shell plc has a 12-month low of $60.34 and a 12-month high of $74.61. The company has a market capitalization of $215.15 billion, a price-to-earnings ratio of 12.68, a P/E/G ratio of 1.53 and a beta of 0.57. 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 announced its earnings results on Thursday, August 1st. The energy company reported $1.97 earnings per share (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 business had revenue of $75.06 billion for the quarter, compared to analyst estimates of $88.62 billion. During the same quarter last year, the firm earned $1.50 EPS. As a group, equities research analysts predict that Shell plc will post 8.64 earnings per share for the current fiscal year.

Shell Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 23rd. Stockholders of record on Friday, August 16th will be issued a $0.688 dividend. This represents a $2.75 annualized dividend and a dividend yield of 4.00%. The ex-dividend date is Friday, August 16th. Shell’s payout ratio is 50.74%.

Analyst Ratings Changes

A number of research firms have commented on SHEL. Argus lifted their target price on shares of Shell from $77.00 to $79.00 and gave the stock a “buy” rating in a report on Thursday, June 6th. Wells Fargo & Company reduced their target price on Shell from $91.00 to $90.00 and set an “overweight” rating on the stock in a report on Friday, June 21st. Scotiabank reduced their price objective on shares of Shell from $95.00 to $90.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 12th. Berenberg Bank upgraded shares of Shell to a “strong-buy” rating in a report on Monday, August 5th. Finally, Royal Bank of Canada upgraded shares of Shell to a “moderate buy” rating in a research report on Tuesday, July 30th. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $85.00.

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 to deliver gas to market.