Fort Sheridan Advisors LLC acquired a new position in shares of Shell plc (NYSE:SHEL – Get Rating) in the first quarter, according to its most recent disclosure with the SEC. The firm acquired 29,016 shares of the energy company’s stock, valued at approximately $1,594,000.
A number of other hedge funds also recently added to or reduced their stakes in SHEL. Exchange Traded Concepts LLC acquired a new position in Shell during the first quarter worth $26,000. Asset Dedication LLC acquired a new position in Shell during the first quarter worth $27,000. Creative Financial Designs Inc. ADV acquired a new position in Shell during the first quarter worth $28,000. Pflug Koory LLC purchased a new position in Shell during the first quarter worth $28,000. Finally, Allspring Global Investments Holdings LLC purchased a new position in Shell during the first quarter worth $28,000. 11.72% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
SHEL has been the subject of a number of recent analyst reports. ING Group raised Shell from a “hold” rating to a “buy” rating in a research report on Tuesday, July 12th. Morgan Stanley lifted their price objective on Shell from GBX 2,570 ($31.49) to GBX 2,860 ($35.04) in a research report on Wednesday, May 11th. Credit Suisse Group initiated coverage on Shell in a research report on Thursday, June 9th. They issued an “outperform” rating for the company. Deutsche Bank Aktiengesellschaft boosted their price target on Shell from GBX 2,551 ($31.26) to GBX 2,779 ($34.05) in a research report on Wednesday, July 6th. Finally, UBS Group boosted their price target on Shell from GBX 2,450 ($30.02) to GBX 2,550 ($31.25) in a research report on Friday, May 6th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $2,134.13.
Shell Stock Up 1.6 %
Shell (NYSE:SHEL – Get Rating) last posted its earnings results on Thursday, May 5th. The energy company reported $2.38 EPS for the quarter, beating the consensus estimate of $2.12 by $0.26. Shell had a return on equity of 17.39% and a net margin of 10.70%. The company had revenue of $83.16 billion during the quarter. Analysts predict that Shell plc will post 11.21 EPS for the current year.
Shell Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 19th. Investors of record on Friday, August 12th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 3.85%. The ex-dividend date is Thursday, August 11th. Shell’s dividend payout ratio (DPR) is 21.05%.
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 necessary to deliver gas to market.
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