Gabelli Funds LLC Trims Stake in Shell plc (NYSE:SHEL)

Gabelli Funds LLC trimmed its holdings in shares of Shell plc (NYSE:SHEL) by 0.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 414,100 shares of the energy company’s stock after selling 300 shares during the quarter. Gabelli Funds LLC’s holdings in Shell were worth $29,890,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of SHEL. Hobbs Group Advisors LLC acquired a new position in Shell during the second quarter worth $26,000. Beaird Harris Wealth Management LLC lifted its stake in Shell by 611.1% during the 4th quarter. Beaird Harris Wealth Management LLC now owns 448 shares of the energy company’s stock worth $29,000 after acquiring an additional 385 shares in the last quarter. Triad Wealth Partners LLC acquired a new position in Shell in the 2nd quarter valued at about $31,000. Fairman Group LLC purchased a new stake in Shell during the fourth quarter worth about $45,000. Finally, LRI Investments LLC boosted its stake in shares of Shell by 3,856.3% in the second quarter. LRI Investments LLC now owns 633 shares of the energy company’s stock valued at $46,000 after purchasing an additional 617 shares during the period. Institutional investors and hedge funds own 28.60% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Scotiabank reduced their target price on shares of Shell from $95.00 to $90.00 and set a “sector outperform” rating on the stock in a report on Friday, July 12th. Berenberg Bank upgraded Shell to a “strong-buy” rating in a report on Monday, August 5th. Royal Bank of Canada upgraded Shell to a “moderate buy” rating in a report on Tuesday, July 30th. Argus boosted their price objective on Shell from $77.00 to $79.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. Finally, Wolfe Research began coverage on shares of Shell in a 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 assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $85.00.

Shell Price Performance

Shares of NYSE SHEL opened at $68.72 on Friday. The stock’s 50-day simple moving average is $70.88 and its 200-day simple moving average is $70.66. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.12 and a current ratio of 1.41. 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. Shell plc has a fifty-two week low of $60.34 and a fifty-two week high of $74.61.

Shell (NYSE:SHEL) last issued its quarterly earnings data on Thursday, August 1st. The energy company reported $1.97 earnings per share for the quarter, topping the consensus estimate of $1.82 by $0.15. The business had revenue of $75.06 billion during the quarter, compared to the consensus estimate 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 previous year, the firm earned $1.50 EPS. As a group, equities research analysts forecast that Shell plc will post 8.64 EPS for the current fiscal year.

Shell Dividend Announcement

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

Shell Company 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.