Shell plc (NYSE:SHEL) Position Trimmed by Continental Advisors LLC

Continental Advisors LLC cut its holdings in Shell plc (NYSE:SHEL) by 9.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 36,520 shares of the energy company’s stock after selling 4,000 shares during the period. Shell comprises approximately 1.2% of Continental Advisors LLC’s holdings, making the stock its 24th biggest position. Continental Advisors LLC’s holdings in Shell were worth $2,636,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. DRW Securities LLC acquired a new stake in shares of Shell in the second quarter valued at approximately $2,816,000. Edge Capital Group LLC raised its position in shares of Shell by 2.5% during the 2nd quarter. Edge Capital Group LLC now owns 124,542 shares of the energy company’s stock worth $8,989,000 after buying an additional 3,096 shares in the last quarter. Fairscale Capital LLC bought a new position in Shell during the 2nd quarter valued at $33,000. Itau Unibanco Holding S.A. acquired a new position in Shell during the second quarter worth about $70,000. Finally, Fidelis Capital Partners LLC lifted its holdings in Shell by 34.0% in the 2nd quarter. Fidelis Capital Partners LLC now owns 16,627 shares of the energy company’s stock valued at $1,175,000 after acquiring an additional 4,222 shares during the last quarter. Institutional investors own 28.60% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on SHEL. Berenberg Bank upgraded shares of Shell to a “strong-buy” rating in a report on Monday, August 5th. 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. Scotiabank decreased their target price on shares of Shell from $95.00 to $90.00 and set a “sector outperform” rating for the company in a research note on Friday, July 12th. Royal Bank of Canada upgraded Shell to a “moderate buy” rating in a research note on Tuesday, July 30th. Finally, Wolfe Research started coverage on Shell in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Two equities research 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 company. According to data from MarketBeat, Shell has an average rating of “Moderate Buy” and an average price target of $85.00.

Shell Trading Down 0.7 %

Shares of SHEL stock opened at $68.72 on Monday. The company has a current ratio of 1.41, a quick ratio of 1.12 and a debt-to-equity ratio of 0.35. Shell plc has a 1 year low of $60.34 and a 1 year high of $74.61. The firm’s fifty day simple moving average is $70.88 and its 200 day simple moving average is $70.71. The firm has a market capitalization of $215.15 billion, a P/E ratio of 12.68, a price-to-earnings-growth ratio of 1.53 and a beta of 0.57.

Shell (NYSE:SHEL) last announced 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. The business had revenue of $75.06 billion during the quarter, compared to analyst estimates of $88.62 billion. Shell had a net margin of 5.97% and a return on equity of 14.56%. During the same quarter in the prior year, the business earned $1.50 earnings per share. As a group, sell-side analysts predict that Shell plc will post 8.64 EPS for the current year.

Shell Dividend Announcement

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