MidWestOne Financial Group Inc. Increases Holdings in Shell plc (NYSE:SHEL)

MidWestOne Financial Group Inc. boosted its stake in Shell plc (NYSE:SHEL) by 25.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,595 shares of the energy company’s stock after purchasing an additional 2,742 shares during the period. MidWestOne Financial Group Inc.’s holdings in Shell were worth $981,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. Kathmere Capital Management LLC increased its stake in Shell by 28.7% in the 2nd quarter. Kathmere Capital Management LLC now owns 4,639 shares of the energy company’s stock worth $335,000 after purchasing an additional 1,035 shares during the period. Oliver Lagore Vanvalin Investment Group increased its stake in Shell by 251.9% in the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 848 shares of the energy company’s stock worth $61,000 after purchasing an additional 607 shares during the period. Beaird Harris Wealth Management LLC increased its stake in Shell by 81.5% in the 2nd quarter. Beaird Harris Wealth Management LLC now owns 715 shares of the energy company’s stock worth $52,000 after purchasing an additional 321 shares during the period. The Manufacturers Life Insurance Company increased its stake in Shell by 2.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 17,165 shares of the energy company’s stock worth $1,239,000 after purchasing an additional 337 shares during the period. Finally, Daymark Wealth Partners LLC increased its stake in Shell by 574.9% in the 2nd quarter. Daymark Wealth Partners LLC now owns 21,002 shares of the energy company’s stock worth $1,516,000 after purchasing an additional 17,890 shares during the period. 28.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Royal Bank of Canada upgraded Shell to a “moderate buy” rating in a research report on Tuesday, July 30th. Wells Fargo & Company cut their price objective on Shell from $88.00 to $84.00 and set an “overweight” rating on the stock in a research report on Friday. Scotiabank cut their price objective 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 upgraded Shell to a “strong-buy” rating in a research report on Monday, August 5th. Finally, Wolfe Research started coverage on Shell in a research report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $83.50.

Shell Trading Up 1.2 %

NYSE SHEL opened at $66.11 on Friday. 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 plc has a twelve month low of $60.34 and a twelve month high of $74.61. The firm has a market capitalization of $206.97 billion, a PE ratio of 12.20, a P/E/G ratio of 1.60 and a beta of 0.57. The stock’s 50 day moving average is $70.35 and its 200 day moving average is $70.73.

Shell (NYSE:SHEL) last announced its quarterly earnings data 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. The business had revenue of $75.06 billion during the quarter, compared to analysts’ expectations of $88.62 billion. Shell had a return on equity of 14.56% and a net margin of 5.97%. During the same quarter in the previous year, the business earned $1.50 earnings per share. Research analysts forecast that Shell plc will post 8.44 earnings per share for the current fiscal year.

Shell Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Friday, August 16th were paid a dividend of $0.688 per share. This represents a $2.75 dividend on an annualized basis and a yield of 4.16%. The ex-dividend date of this dividend was Friday, August 16th. 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.