Cohen Klingenstein LLC Reduces Stake in Shell plc (NYSE:SHEL)

Cohen Klingenstein LLC lowered its position in Shell plc (NYSE:SHELGet Rating) by 0.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 214,760 shares of the energy company’s stock after selling 1,010 shares during the period. Cohen Klingenstein LLC’s holdings in Shell were worth $11,230,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the company. Fisher Asset Management LLC purchased a new position in shares of Shell during the 1st quarter valued at approximately $1,076,420,000. Dimensional Fund Advisors LP purchased a new position in shares of Shell during the 1st quarter worth $1,006,050,000. Wellington Management Group LLP purchased a new position in Shell during the 1st quarter valued at about $677,739,000. Arrowstreet Capital Limited Partnership purchased a new position in Shell during the 1st quarter valued at about $549,346,000. Finally, Pendal Group Ltd purchased a new position in Shell during the 1st quarter valued at about $228,638,000. Hedge funds and other institutional investors own 7.65% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on SHEL. JPMorgan Chase & Co. raised their target price on Shell from GBX 2,850 ($34.44) to GBX 3,000 ($36.25) in a research report on Friday, July 15th. Royal Bank of Canada boosted their target price on Shell from GBX 3,100 ($37.46) to GBX 3,200 ($38.67) in a research report on Friday, July 29th. Credit Suisse Group initiated coverage on Shell in a research report on Thursday, June 9th. They set an “outperform” rating on the stock. HSBC cut their price target on Shell from GBX 2,700 ($32.62) to GBX 2,550 ($30.81) in a report on Wednesday, July 20th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Shell from GBX 2,551 ($30.82) to GBX 2,779 ($33.58) in a research note on Wednesday, July 6th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Shell presently has an average rating of “Buy” and an average price target of $2,134.13.

Shell Stock Performance

SHEL traded down $4.14 during trading hours on Friday, hitting $48.20. The company’s stock had a trading volume of 479,159 shares, compared to its average volume of 5,039,269. Shell plc has a fifty-two week low of $44.90 and a fifty-two week high of $61.67. The company has a current ratio of 1.39, a quick ratio of 1.09 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $184.37 billion, a PE ratio of 5.06, a PEG ratio of 0.50 and a beta of 0.66. The company has a 50-day simple moving average of $52.45 and a 200 day simple moving average of $53.91.

Shell Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 19th. Stockholders of record on Friday, August 12th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 4.15%. The ex-dividend date was Thursday, August 11th. Shell’s dividend payout ratio is presently 21.05%.

Shell Profile

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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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Institutional Ownership by Quarter for Shell (NYSE:SHEL)

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