Freestone Capital Holdings LLC Takes $1.26 Million Position in Shell plc (NYSE:SHEL)

Freestone Capital Holdings LLC purchased a new stake in Shell plc (NYSE:SHEL) in the first quarter, according to its most recent filing with the SEC. The fund purchased 18,844 shares of the energy company’s stock, valued at approximately $1,263,000.

Other institutional investors have also made changes to their positions in the company. Team Hewins LLC bought a new position in Shell during the 4th quarter worth $769,000. Private Trust Co. NA grew its stake in Shell by 14.7% during the 4th quarter. Private Trust Co. NA now owns 10,532 shares of the energy company’s stock worth $693,000 after buying an additional 1,348 shares during the last quarter. Westwood Global Investments LLC grew its stake in Shell by 14.4% during the 4th quarter. Westwood Global Investments LLC now owns 2,417,326 shares of the energy company’s stock worth $159,060,000 after buying an additional 304,871 shares during the last quarter. Cantor Fitzgerald Investment Advisors L.P. bought a new position in Shell during the 4th quarter worth $22,628,000. Finally, Pingora Partners LLC bought a new position in Shell during the 4th quarter worth $1,306,000. 28.60% of the stock is currently owned by institutional investors.

Shell Trading Up 0.5 %

Shares of NYSE SHEL traded up $0.33 during mid-day trading on Friday, hitting $72.42. 1,952,766 shares of the company traded hands, compared to its average volume of 4,190,995. Shell plc has a 1 year low of $59.51 and a 1 year high of $74.61. The stock has a market capitalization of $229.00 billion, a price-to-earnings ratio of 13.30, a PEG ratio of 1.62 and a beta of 0.59. The company has a quick ratio of 1.14, a current ratio of 1.42 and a debt-to-equity ratio of 0.37. The business has a 50 day moving average of $71.43 and a two-hundred day moving average of $68.49.

Shell (NYSE:SHEL) last posted its quarterly earnings results 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 for 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%. On average, sell-side analysts anticipate that Shell plc will post 8.53 earnings per share for the current fiscal year.

Shell Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 24th. Investors of record on Friday, May 17th were given a dividend of $0.688 per share. This represents a $2.75 annualized dividend and a yield of 3.80%. This is a positive change from Shell’s previous quarterly dividend of $0.66. The ex-dividend date was Thursday, May 16th. Shell’s payout ratio is presently 50.74%.

Analysts Set New Price Targets

A number of brokerages have issued reports on SHEL. TD Securities boosted their price target on Shell from $74.00 to $81.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. Scotiabank cut their price objective on Shell from $95.00 to $90.00 and set a “sector outperform” rating for the company in a report on Friday, July 12th. Argus upped their price objective on Shell from $77.00 to $79.00 and gave the company a “buy” rating in a report on Thursday, June 6th. Wells Fargo & Company cut their price objective on Shell from $91.00 to $90.00 and set an “overweight” rating for the company in a report on Friday, June 21st. Finally, Wolfe Research assumed coverage on Shell in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $73.40.

Shell Company 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.