Price T Rowe Associates Inc. MD Boosts Stake in Shell plc (NYSE:SHEL)

Price T Rowe Associates Inc. MD boosted its position in shares of Shell plc (NYSE:SHEL) by 13.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,715,078 shares of the energy company’s stock after buying an additional 772,736 shares during the period. Price T Rowe Associates Inc. MD owned 0.21% of Shell worth $450,180,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the company. United Community Bank grew its stake in shares of Shell by 4.4% in the 1st quarter. United Community Bank now owns 3,315 shares of the energy company’s stock valued at $222,000 after purchasing an additional 139 shares during the last quarter. Marcum Wealth LLC lifted its stake in shares of Shell by 3.7% in the 1st quarter. Marcum Wealth LLC now owns 4,223 shares of the energy company’s stock worth $283,000 after acquiring an additional 150 shares during the period. Lester Murray Antman dba SimplyRich increased its stake in shares of Shell by 0.6% during the first quarter. Lester Murray Antman dba SimplyRich now owns 26,743 shares of the energy company’s stock worth $1,793,000 after acquiring an additional 153 shares during the period. Jones Financial Companies Lllp raised its holdings in Shell by 5.9% during the fourth quarter. Jones Financial Companies Lllp now owns 2,907 shares of the energy company’s stock worth $191,000 after purchasing an additional 161 shares in the last quarter. Finally, Summit Trail Advisors LLC boosted its holdings in Shell by 4.4% in the 1st quarter. Summit Trail Advisors LLC now owns 3,918 shares of the energy company’s stock valued at $263,000 after purchasing an additional 166 shares in the last quarter. 28.60% of the stock is owned by institutional investors and hedge funds.

Shell Price Performance

Shares of SHEL traded down $0.56 during mid-day trading on Monday, reaching $71.49. 636,967 shares of the company’s stock were exchanged, compared to its average volume of 4,172,347. Shell plc has a 52-week low of $59.51 and a 52-week high of $74.61. 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 company has a 50-day simple moving average of $71.44 and a two-hundred day simple moving average of $68.61. The company has a market cap of $226.06 billion, a price-to-earnings ratio of 13.34, a PEG ratio of 1.64 and a beta of 0.59.

Shell (NYSE:SHEL) last announced its quarterly earnings data on Thursday, May 2nd. The energy company reported $2.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.87 by $0.51. Shell had a net margin of 5.83% and a return on equity of 13.83%. The business had revenue of $74.70 billion for the quarter, compared to the consensus estimate of $88.03 billion. On average, sell-side analysts predict that Shell plc will post 8.53 EPS for the current fiscal year.

Shell Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 24th. Shareholders of record on Friday, May 17th were given a dividend of $0.688 per share. This represents a $2.75 dividend on an annualized basis and a yield of 3.85%. This is a boost from Shell’s previous quarterly dividend of $0.66. The ex-dividend date was Thursday, May 16th. Shell’s payout ratio is 50.74%.

Analysts Set New Price Targets

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