Great Lakes Advisors LLC Acquires 24,795 Shares of Shell plc (NYSE:SHEL)

Great Lakes Advisors LLC raised its stake in Shell plc (NYSE:SHEL) by 4.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 533,020 shares of the energy company’s stock after acquiring an additional 24,795 shares during the quarter. Great Lakes Advisors LLC’s holdings in Shell were worth $38,473,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Hobbs Group Advisors LLC acquired a new position in Shell during the 2nd quarter worth $26,000. Beaird Harris Wealth Management LLC boosted its holdings in Shell by 611.1% in the fourth quarter. Beaird Harris Wealth Management LLC now owns 448 shares of the energy company’s stock valued at $29,000 after acquiring an additional 385 shares during the last quarter. Triad Wealth Partners LLC acquired a new stake in Shell in the second quarter worth about $31,000. Fairman Group LLC bought a new stake in Shell during the 4th quarter worth about $45,000. Finally, LRI Investments LLC boosted its stake in shares of Shell by 3,856.3% in the 2nd quarter. LRI Investments LLC now owns 633 shares of the energy company’s stock valued at $46,000 after purchasing an additional 617 shares during the last quarter. 28.60% of the stock is owned by institutional investors.

Shell Stock Down 1.8 %

SHEL stock traded down $1.21 during mid-day trading on Friday, hitting $66.91. 5,196,362 shares of the company were exchanged, compared to its average volume of 4,096,644. The firm has a market cap of $211.57 billion, a P/E ratio of 12.35, a P/E/G ratio of 1.59 and a beta of 0.57. Shell plc has a 1-year low of $60.34 and a 1-year high of $74.61. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.12 and a current ratio of 1.41. The firm’s 50 day simple moving average is $72.05 and its 200 day simple moving average is $70.29.

Shell (NYSE:SHEL) last posted its quarterly earnings data on Thursday, August 1st. The energy company reported $1.97 EPS for the quarter, beating the consensus estimate of $1.82 by $0.15. Shell had a net margin of 5.97% and a return on equity of 14.56%. The business had revenue of $75.06 billion for the quarter, compared to analysts’ expectations of $88.62 billion. During the same period in the previous year, the firm posted $1.50 EPS. On average, sell-side analysts predict that Shell plc will post 8.58 EPS for the current fiscal year.

Shell Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 23rd. Shareholders of record on Friday, August 16th will be given a dividend of $0.688 per share. This represents a $2.75 dividend on an annualized basis and a yield of 4.11%. The ex-dividend date is Friday, August 16th. Shell’s dividend payout ratio (DPR) is currently 50.74%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Berenberg Bank raised shares of Shell to a “strong-buy” rating in a research note on Monday, August 5th. Wells Fargo & Company dropped 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. Scotiabank reduced their target price on Shell from $95.00 to $90.00 and set a “sector outperform” rating on the stock in a report on Friday, July 12th. Argus increased their price target on shares of Shell from $77.00 to $79.00 and gave the company a “buy” rating in a research report on Thursday, June 6th. Finally, Royal Bank of Canada upgraded shares of Shell to a “moderate buy” rating in a report on Tuesday, July 30th. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $85.00.

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.