Insight 2811 Inc. Sells 600 Shares of Shell plc (NYSE:SHEL)

Insight 2811 Inc. cut its position in shares of Shell plc (NYSE:SHEL) by 9.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,666 shares of the energy company’s stock after selling 600 shares during the quarter. Insight 2811 Inc.’s holdings in Shell were worth $409,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ballentine Partners LLC raised its stake in shares of Shell by 13.0% in the 2nd quarter. Ballentine Partners LLC now owns 11,348 shares of the energy company’s stock valued at $819,000 after buying an additional 1,303 shares in the last quarter. Caprock Group LLC raised its position in Shell by 154.7% in the second quarter. Caprock Group LLC now owns 29,060 shares of the energy company’s stock worth $2,098,000 after purchasing an additional 17,650 shares in the last quarter. Certuity LLC boosted its holdings in Shell by 1.7% during the second quarter. Certuity LLC now owns 9,923 shares of the energy company’s stock valued at $716,000 after purchasing an additional 169 shares in the last quarter. Acadian Asset Management LLC bought a new stake in shares of Shell in the 2nd quarter valued at approximately $2,760,000. Finally, Gallacher Capital Management LLC raised its holdings in shares of Shell by 2.9% in the 2nd quarter. Gallacher Capital Management LLC now owns 8,702 shares of the energy company’s stock worth $628,000 after buying an additional 243 shares in the last quarter. 28.60% of the stock is currently owned by institutional investors.

Shell Price Performance

Shares of NYSE SHEL traded down $1.21 during trading on Friday, reaching $66.91. The company had a trading volume of 5,196,362 shares, compared to its average volume of 4,096,644. Shell plc has a 52 week low of $60.34 and a 52 week high of $74.61. 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 business’s 50 day moving average price is $71.95 and its 200-day moving average price is $70.36. The stock has a market cap of $211.57 billion, a PE ratio of 12.35, a PEG ratio of 1.59 and a beta of 0.57.

Shell (NYSE:SHEL) last posted 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 for the quarter, compared to the consensus estimate 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 prior year, the business earned $1.50 EPS. Analysts expect that Shell plc will post 8.58 earnings per share for the current year.

Shell Dividend Announcement

The firm also recently announced 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 is Friday, August 16th. This represents a $2.75 dividend on an annualized basis and a yield of 4.11%. Shell’s payout ratio is presently 50.74%.

Analysts Set New Price Targets

A number of analysts have weighed in on SHEL shares. Royal Bank of Canada upgraded Shell to a “moderate buy” rating in a research report on Tuesday, July 30th. Scotiabank dropped 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 report on Friday, July 12th. Wells Fargo & Company reduced their price target on shares of Shell from $91.00 to $90.00 and set an “overweight” rating on the stock in a research report on Friday, June 21st. Wolfe Research initiated coverage on shares of Shell in a report on Thursday, July 18th. They set a “peer perform” rating for the company. Finally, Argus boosted their target price on Shell from $77.00 to $79.00 and gave the stock a “buy” rating in a report on Thursday, June 6th. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $85.00.

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.