Bridges Investment Management Inc. Raises Holdings in Shell plc (NYSE:SHEL)

Bridges Investment Management Inc. lifted its position in Shell plc (NYSE:SHEL) by 5.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,518 shares of the energy company’s stock after acquiring an additional 282 shares during the quarter. Bridges Investment Management Inc.’s holdings in Shell were worth $398,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. United Community Bank lifted its position in shares of Shell by 4.4% in the 1st quarter. United Community Bank now owns 3,315 shares of the energy company’s stock worth $222,000 after purchasing an additional 139 shares during the period. First Horizon Advisors Inc. boosted its position in Shell by 1.3% during the 2nd quarter. First Horizon Advisors Inc. now owns 11,097 shares of the energy company’s stock valued at $801,000 after acquiring an additional 142 shares in the last quarter. Marcum Wealth LLC raised its position in shares of Shell by 3.7% in the 1st quarter. Marcum Wealth LLC now owns 4,223 shares of the energy company’s stock worth $283,000 after acquiring an additional 150 shares in the last quarter. Lester Murray Antman dba SimplyRich lifted its stake in shares of Shell by 0.6% during the 1st quarter. Lester Murray Antman dba SimplyRich now owns 26,743 shares of the energy company’s stock worth $1,793,000 after purchasing an additional 153 shares during the last quarter. Finally, Jones Financial Companies Lllp boosted its position in Shell by 5.9% during the fourth quarter. Jones Financial Companies Lllp now owns 2,907 shares of the energy company’s stock valued at $191,000 after purchasing an additional 161 shares in the last quarter. 28.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on SHEL. Wells Fargo & Company decreased their price target 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. Berenberg Bank raised shares of Shell to a “strong-buy” rating in a research report on Monday, August 5th. Royal Bank of Canada raised Shell to a “moderate buy” rating in a research report on Tuesday, July 30th. Wolfe Research began coverage on Shell in a research report on Thursday, July 18th. They issued a “peer perform” rating for the company. Finally, Argus upped their target price on Shell from $77.00 to $79.00 and gave the company a “buy” rating in a research report on Thursday, June 6th. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $85.00.

Shell Price Performance

Shares of SHEL opened at $68.72 on Friday. The firm has a market capitalization of $215.15 billion, a PE ratio of 12.68, a price-to-earnings-growth ratio of 1.53 and a beta of 0.57. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.41 and a quick ratio of 1.12. The company’s fifty day moving average price is $70.88 and its 200-day moving average price is $70.66. Shell plc has a 1-year low of $60.34 and a 1-year high of $74.61.

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, topping the consensus estimate of $1.82 by $0.15. The firm 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 period last year, the business posted $1.50 earnings per share. On average, equities research analysts predict that Shell plc will post 8.64 EPS for the current year.

Shell Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 23rd. Investors of record on Friday, August 16th will be issued a dividend of $0.688 per share. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.75 annualized dividend and a dividend yield of 4.00%. Shell’s dividend payout ratio (DPR) is presently 50.74%.

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.