Shufro Rose & Co. LLC acquired a new stake in Shell plc (NYSE:SHEL – Get Rating) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 13,550 shares of the energy company’s stock, valued at approximately $744,000.
Several other hedge funds have also recently bought and sold shares of SHEL. Fisher Asset Management LLC bought a new stake in Shell in the 1st quarter valued at about $1,076,420,000. Pendal Group Ltd acquired a new position in Shell during the 1st quarter valued at about $228,638,000. Pzena Investment Management LLC acquired a new position in Shell during the 1st quarter valued at about $181,177,000. Chevy Chase Trust Holdings Inc. acquired a new position in Shell during the 1st quarter valued at about $116,959,000. Finally, Todd Asset Management LLC acquired a new position in Shell during the 1st quarter valued at about $82,722,000. 11.72% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several equities analysts have commented on the stock. Credit Suisse Group began coverage on shares of Shell in a research note on Thursday, June 9th. They set an “outperform” rating on the stock. ING Group upgraded shares of Shell from a “hold” rating to a “buy” rating in a report on Tuesday, July 12th. UBS Group raised their price target on shares of Shell from GBX 2,450 ($30.02) to GBX 2,550 ($31.25) in a report on Friday, May 6th. JPMorgan Chase & Co. raised their price target on shares of Shell from GBX 2,850 ($34.92) to GBX 3,000 ($36.76) in a report on Friday, July 15th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Shell from GBX 2,551 ($31.26) to GBX 2,779 ($34.05) in a report on Wednesday, July 6th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $2,134.13.
Shell Trading Up 1.6 %
Shell (NYSE:SHEL – Get Rating) last released its quarterly earnings results on Thursday, May 5th. The energy company reported $2.38 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.26. Shell had a net margin of 10.70% and a return on equity of 17.39%. The company had revenue of $83.16 billion for the quarter. Equities analysts anticipate that Shell plc will post 11.21 EPS for the current year.
Shell Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, September 19th. Investors of record on Friday, August 12th will be given a dividend of $0.50 per share. 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 currently 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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