Shell plc (NYSE:SHEL) Shares Sold by Park National Corp OH

Park National Corp OH trimmed its holdings in Shell plc (NYSE:SHEL) by 15.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,165 shares of the energy company’s stock after selling 4,270 shares during the quarter. Park National Corp OH’s holdings in Shell were worth $1,698,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SHEL. Valley National Advisers Inc. boosted its holdings in shares of Shell by 930.2% in the fourth quarter. Valley National Advisers Inc. now owns 443 shares of the energy company’s stock valued at $27,000 after acquiring an additional 400 shares during the period. CoreFirst Bank & Trust acquired a new stake in shares of Shell during the fourth quarter worth $28,000. Human Investing LLC acquired a new stake in shares of Shell during the fourth quarter worth $31,000. Transce3nd LLC acquired a new stake in shares of Shell during the fourth quarter worth $34,000. Finally, Millstone Evans Group LLC acquired a new stake in shares of Shell during the fourth quarter worth $36,000. 28.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SHEL has been the subject of several recent research reports. TD Securities reaffirmed a “buy” rating on shares of Shell in a report on Friday, April 4th. Wells Fargo & Company decreased their price target on Shell from $83.00 to $80.00 and set an “overweight” rating for the company in a report on Monday, May 5th. Piper Sandler increased their price objective on Shell from $72.00 to $80.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 13th. Barclays reiterated an “overweight” rating on shares of Shell in a research report on Wednesday, March 26th. Finally, TD Cowen cut their price objective on Shell from $82.00 to $76.00 and set a “buy” rating for the company in a research report on Tuesday, April 8th. One research analyst has rated the stock with a hold rating, eleven have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $78.35.

Shell Stock Up 0.6%

SHEL opened at $66.45 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.35 and a debt-to-equity ratio of 0.36. The firm has a market cap of $198.62 billion, a P/E ratio of 13.24, a PEG ratio of 0.98 and a beta of 0.38. Shell plc has a 52 week low of $58.55 and a 52 week high of $74.46. The business’s fifty day simple moving average is $66.12 and its 200 day simple moving average is $65.81.

Shell (NYSE:SHEL) last issued its quarterly earnings results on Friday, May 2nd. The energy company reported $1.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.54 by $0.30. Shell had a return on equity of 12.75% and a net margin of 5.57%. The firm had revenue of $69.23 billion for the quarter, compared to analyst estimates of $79.18 billion. During the same period last year, the company earned $2.40 EPS. As a group, equities research analysts anticipate that Shell plc will post 7.67 EPS for the current fiscal year.

Shell Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 23rd. Shareholders of record on Friday, May 16th will be paid a $0.716 dividend. This represents a $2.86 dividend on an annualized basis and a yield of 4.31%. The ex-dividend date of this dividend is Friday, May 16th. Shell’s payout ratio is 65.90%.

Shell declared that its board has authorized a stock repurchase plan on Friday, May 2nd that permits the company to repurchase $3.50 billion in outstanding shares. This repurchase authorization permits the energy company to repurchase up to 1.8% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

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.