Shell plc (NYSE:SHEL) Shares Purchased by Worth Asset Management LLC

Worth Asset Management LLC boosted its holdings in Shell plc (NYSE:SHEL) by 50.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 945 shares of the energy company’s stock after buying an additional 317 shares during the quarter. Worth Asset Management LLC’s holdings in Shell were worth $57,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Acadian Asset Management LLC purchased a new position in Shell during the 1st quarter worth approximately $443,000. Yousif Capital Management LLC purchased a new position in Shell during the 1st quarter worth approximately $3,322,000. Synovus Financial Corp purchased a new position in Shell during the 1st quarter worth approximately $1,018,000. Vontobel Holding Ltd. acquired a new stake in shares of Shell during the 1st quarter valued at $791,000. Finally, Blair William & Co. IL acquired a new stake in shares of Shell during the 1st quarter valued at $2,090,000. Institutional investors and hedge funds own 9.23% of the company’s stock.

Shell Stock Up 0.9 %

SHEL stock opened at $65.23 on Tuesday. The firm has a market cap of $219.67 billion, a PE ratio of 7.97, a PEG ratio of 0.80 and a beta of 0.67. The company has a current ratio of 1.46, a quick ratio of 1.18 and a debt-to-equity ratio of 0.38. Shell plc has a 1 year low of $46.74 and a 1 year high of $65.37. The company has a fifty day simple moving average of $62.06 and a 200 day simple moving average of $60.41.

Shell (NYSE:SHEL) last released its earnings results on Thursday, July 27th. The energy company reported $1.50 earnings per share for the quarter, missing analysts’ consensus estimates of $1.59 by ($0.09). The firm had revenue of $76.02 billion for the quarter. Shell had a return on equity of 17.65% and a net margin of 7.94%. During the same period last year, the company posted $3.04 earnings per share. Sell-side analysts anticipate that Shell plc will post 8.64 EPS for the current fiscal year.

Shell Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 18th. Stockholders of record on Friday, August 11th were issued a dividend of $0.662 per share. This is an increase from Shell’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend was Thursday, August 10th. This represents a $2.65 annualized dividend and a dividend yield of 4.06%. Shell’s payout ratio is presently 32.40%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on SHEL shares. Piper Sandler decreased their target price on shares of Shell from $75.00 to $67.00 in a research note on Tuesday, June 13th. Morgan Stanley raised shares of Shell from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, June 21st. Finally, Royal Bank of Canada decreased their target price on shares of Shell from 28.00 to 27.00 and set an “outperform” rating for the company in a research note on Friday, August 11th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $1,992.17.

About Shell

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.