Letko Brosseau & Associates Inc. Sells 15,380 Shares of Shell plc (NYSE:SHEL)

Letko Brosseau & Associates Inc. decreased its holdings in shares of Shell plc (NYSE:SHEL) by 1.7% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 871,697 shares of the energy company’s stock after selling 15,380 shares during the period. Letko Brosseau & Associates Inc.’s holdings in Shell were worth $62,919,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Team Hewins LLC purchased a new position in Shell in the fourth quarter worth $769,000. Lazard Asset Management LLC increased its position in shares of Shell by 21.0% during the 1st quarter. Lazard Asset Management LLC now owns 44,896 shares of the energy company’s stock valued at $3,009,000 after purchasing an additional 7,779 shares during the last quarter. Raymond James & Associates lifted its position in Shell by 65.7% in the 2nd quarter. Raymond James & Associates now owns 1,698,247 shares of the energy company’s stock worth $122,579,000 after buying an additional 673,624 shares during the last quarter. Westwood Global Investments LLC boosted its stake in Shell by 14.4% in the fourth quarter. Westwood Global Investments LLC now owns 2,417,326 shares of the energy company’s stock worth $159,060,000 after buying an additional 304,871 shares in the last quarter. Finally, Cantor Fitzgerald Investment Advisors L.P. bought a new position in Shell during the fourth quarter valued at approximately $22,628,000. 28.60% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

SHEL has been the subject of a number of research reports. Scotiabank cut their price objective 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 raised Shell to a “moderate buy” rating in a research note on Tuesday, July 30th. Wells Fargo & Company dropped their target price on Shell from $91.00 to $90.00 and set an “overweight” rating for the company in a report on Friday, June 21st. Argus lifted their price target on Shell from $77.00 to $79.00 and gave the stock a “buy” rating in a research note on Thursday, June 6th. Finally, Berenberg Bank raised Shell to a “strong-buy” rating in a research note on Monday, August 5th. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Shell currently has a consensus rating of “Moderate Buy” and a consensus target price of $85.00.

Shell Trading Down 1.8 %

Shares of SHEL stock traded down $1.21 during trading hours on Friday, reaching $66.91. The company’s stock had a trading volume of 5,196,362 shares, compared to its average volume of 4,096,644. 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 one year low of $60.34 and a one year high of $74.61. The stock has a market capitalization of $211.57 billion, a P/E ratio of 12.35, a P/E/G ratio of 1.59 and a beta of 0.57. The firm’s fifty day simple moving average is $72.05 and its 200 day simple moving average is $70.29.

Shell (NYSE:SHEL) last issued 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. Shell had a net margin of 5.97% and a return on equity of 14.56%. The business had revenue of $75.06 billion for the quarter, compared to the consensus estimate of $88.62 billion. During the same period in the previous year, the firm earned $1.50 EPS. Equities research analysts expect that Shell plc will post 8.58 EPS for the current year.

Shell Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 23rd. Shareholders of record on Friday, August 16th will be given 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 yield of 4.11%. 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.