Shell plc (NYSE:SHEL) Shares Sold by First Trust Direct Indexing L.P.

First Trust Direct Indexing L.P. decreased its stake in shares of Shell plc (NYSE:SHEL) by 6.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 65,967 shares of the energy company’s stock after selling 4,429 shares during the period. First Trust Direct Indexing L.P.’s holdings in Shell were worth $4,422,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its holdings in shares of Shell by 64.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 71,977 shares of the energy company’s stock worth $4,634,000 after purchasing an additional 28,165 shares during the period. Rhumbline Advisers grew its stake in Shell by 1.4% during the third quarter. Rhumbline Advisers now owns 27,123 shares of the energy company’s stock worth $1,746,000 after buying an additional 385 shares during the period. Gotham Asset Management LLC purchased a new position in shares of Shell in the 3rd quarter valued at $1,787,000. Truist Financial Corp increased its holdings in Shell by 20.9% in the 3rd quarter. Truist Financial Corp now owns 270,414 shares of the energy company’s stock valued at $17,409,000 after purchasing an additional 46,673 shares in the last quarter. Finally, Glenmede Trust Co. NA lifted its stake in shares of Shell by 17.7% during the third quarter. Glenmede Trust Co. NA now owns 150,903 shares of the energy company’s stock worth $9,715,000 after purchasing an additional 22,709 shares in the last quarter. Institutional investors and hedge funds own 28.60% of the company’s stock.

Shell Stock Down 0.0 %

NYSE SHEL traded down $0.03 during trading hours on Thursday, reaching $73.01. 1,570,244 shares of the company traded hands, compared to its average volume of 3,434,868. The company has a 50 day moving average of $71.52 and a two-hundred day moving average of $67.75. The stock has a market capitalization of $232.15 billion, a PE ratio of 13.47, a PEG ratio of 1.84 and a beta of 0.59. Shell plc has a 12 month low of $58.14 and a 12 month high of $74.61. The company has a current ratio of 1.42, a quick ratio of 1.14 and a debt-to-equity ratio of 0.37.

Shell (NYSE:SHEL) last announced its quarterly earnings data on Thursday, May 2nd. The energy company reported $2.38 earnings per share for the quarter, beating the consensus estimate of $1.87 by $0.51. The firm had revenue of $74.70 billion during the quarter, compared to analyst estimates of $88.03 billion. Shell had a return on equity of 13.83% and a net margin of 5.83%. As a group, equities analysts expect that Shell plc will post 8.55 earnings per share for the current year.

Shell Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 24th. Shareholders of record on Friday, May 17th were issued a dividend of $0.688 per share. This represents a $2.75 dividend on an annualized basis and a dividend yield of 3.77%. This is a boost from Shell’s previous quarterly dividend of $0.66. The ex-dividend date was Thursday, May 16th. Shell’s dividend payout ratio is 50.74%.

Wall Street Analyst Weigh In

Several research firms recently commented on SHEL. Argus boosted their price target on Shell from $77.00 to $79.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. TD Securities raised their price target on shares of Shell from $74.00 to $81.00 and gave the company a “buy” rating in a report on Friday, May 3rd. Finally, Wells Fargo & Company cut their price objective on shares of Shell from $91.00 to $90.00 and set an “overweight” rating on the stock in a report on Friday, June 21st. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Shell currently has an average rating of “Moderate Buy” and an average target price of $69.25.

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.