Seven Eight Capital LP Sells 29,936 Shares of Shell plc (NYSE:SHEL)

Seven Eight Capital LP reduced its stake in shares of Shell plc (NYSE:SHEL) by 79.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,845 shares of the energy company’s stock after selling 29,936 shares during the quarter. Seven Eight Capital LP’s holdings in Shell were worth $566,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Hobbs Group Advisors LLC purchased a new position in shares of Shell in the 2nd quarter worth approximately $26,000. Triad Wealth Partners LLC purchased a new position in Shell in the second quarter worth $31,000. Beaird Harris Wealth Management LLC lifted its holdings in shares of Shell by 611.1% during the 4th quarter. Beaird Harris Wealth Management LLC now owns 448 shares of the energy company’s stock valued at $29,000 after purchasing an additional 385 shares during the last quarter. LRI Investments LLC acquired a new stake in shares of Shell in the 1st quarter worth $47,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Shell in the second quarter worth about $49,000. Hedge funds and other institutional investors own 28.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on SHEL. Wolfe Research began coverage on shares of Shell in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. Royal Bank of Canada raised shares of Shell to a “moderate buy” rating in a report on Tuesday, July 30th. Scotiabank cut their price target on Shell from $95.00 to $90.00 and set a “sector outperform” rating on the stock in a research report on Friday, July 12th. Berenberg Bank raised Shell to a “strong-buy” rating in a report on Monday, August 5th. Finally, Argus boosted their price target on Shell from $77.00 to $79.00 and gave the company a “buy” rating in a report on Thursday, June 6th. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Shell presently has a consensus rating of “Moderate Buy” and an average target price of $85.00.

Shell Stock Performance

SHEL opened at $68.72 on Friday. The company has a market cap of $215.15 billion, a price-to-earnings ratio of 12.68, a PEG ratio of 1.53 and a beta of 0.57. Shell plc has a 52-week low of $60.34 and a 52-week high of $74.61. The firm’s fifty day simple moving average is $70.88 and its two-hundred day simple moving average is $70.66. 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 posted its quarterly earnings data on Thursday, August 1st. The energy company reported $1.97 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $88.62 billion. During the same period in the prior year, the company earned $1.50 EPS. Equities analysts anticipate that Shell plc will post 8.64 earnings per share for the current fiscal year.

Shell Dividend Announcement

The firm 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 $0.688 dividend. This represents a $2.75 dividend on an annualized basis and a yield of 4.00%. The ex-dividend date of this dividend is Friday, August 16th. Shell’s dividend payout ratio (DPR) is 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.