OLD National Bancorp IN Sells 1,039 Shares of Shell plc (NYSE:SHEL)

OLD National Bancorp IN reduced its position in Shell plc (NYSE:SHEL) by 5.0% in the 2nd quarter, Holdings Channel reports. The firm owned 19,903 shares of the energy company’s stock after selling 1,039 shares during the quarter. OLD National Bancorp IN’s holdings in Shell were worth $1,437,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of SHEL. Valley National Advisers Inc. boosted its position in shares of Shell by 217.7% during the 4th quarter. Valley National Advisers Inc. now owns 413 shares of the energy company’s stock valued at $27,000 after acquiring an additional 283 shares in the last quarter. Beaird Harris Wealth Management LLC lifted its stake in Shell by 611.1% during the fourth quarter. Beaird Harris Wealth Management LLC now owns 448 shares of the energy company’s stock worth $29,000 after purchasing an additional 385 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in Shell by 90.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 495 shares of the energy company’s stock valued at $33,000 after purchasing an additional 235 shares in the last quarter. LRI Investments LLC acquired a new position in shares of Shell in the 1st quarter worth approximately $47,000. Finally, Fairman Group LLC bought a new position in shares of Shell during the 4th quarter worth approximately $45,000. Institutional investors own 28.60% of the company’s stock.

Shell Trading Up 0.7 %

SHEL traded up $0.53 during mid-day trading on Friday, reaching $71.88. The stock had a trading volume of 3,303,994 shares, compared to its average volume of 4,205,305. The firm’s fifty day simple moving average is $71.50 and its two-hundred day simple moving average is $69.10. The stock has a market capitalization of $227.29 billion, a P/E ratio of 13.26, a P/E/G ratio of 1.63 and a beta of 0.59. Shell plc has a 52 week low of $60.13 and a 52 week high of $74.61. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.14 and a current ratio of 1.42.

Shell (NYSE:SHEL) last announced its quarterly earnings data on Thursday, August 1st. The energy company reported $1.97 EPS for the quarter, topping analysts’ consensus estimates of $1.82 by $0.15. Shell had a return on equity of 14.51% and a net margin of 5.97%. The firm had revenue of $75.06 billion during the quarter, compared to analyst estimates of $88.62 billion. During the same period last year, the company earned $1.50 earnings per share. On average, equities analysts predict that Shell plc will post 8.53 EPS for the current year.

Shell Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 23rd. Shareholders of record on Friday, August 16th will be paid a $0.688 dividend. The ex-dividend date is Friday, August 16th. This represents a $2.75 dividend on an annualized basis and a yield of 3.83%. Shell’s payout ratio is presently 50.74%.

Wall Street Analysts Forecast Growth

SHEL has been the subject of several recent analyst reports. Scotiabank dropped their price objective on Shell from $95.00 to $90.00 and set a “sector outperform” rating for the company in a research note on Friday, July 12th. Wolfe Research began coverage on shares of Shell in a report on Thursday, July 18th. They set a “peer perform” rating for the company. Berenberg Bank raised Shell to a “strong-buy” rating in a report on Monday. TD Securities increased their target price on Shell from $74.00 to $81.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. Finally, Royal Bank of Canada raised Shell to a “moderate buy” rating in a report on Tuesday, July 30th. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $73.40.

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.