Confluence Investment Management LLC Has $1.63 Million Stock Position in Shell plc (NYSE:SHEL)

Confluence Investment Management LLC lifted its stake in Shell plc (NYSE:SHEL) by 52.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,603 shares of the energy company’s stock after acquiring an additional 7,800 shares during the period. Confluence Investment Management LLC’s holdings in Shell were worth $1,631,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Mondrian Investment Partners LTD lifted its position in Shell by 83.2% in the first quarter. Mondrian Investment Partners LTD now owns 2,187,872 shares of the energy company’s stock worth $146,675,000 after purchasing an additional 993,342 shares during the period. Mawer Investment Management Ltd. lifted its holdings in shares of Shell by 19.9% during the fourth quarter. Mawer Investment Management Ltd. now owns 5,325,276 shares of the energy company’s stock valued at $350,403,000 after acquiring an additional 885,069 shares during the period. CIBC Private Wealth Group LLC lifted its holdings in shares of Shell by 130.7% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,400,186 shares of the energy company’s stock valued at $92,132,000 after acquiring an additional 793,136 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Shell by 13.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,715,078 shares of the energy company’s stock valued at $450,180,000 after acquiring an additional 772,736 shares during the period. Finally, Senator Investment Group LP bought a new position in shares of Shell during the first quarter valued at $42,775,000. Institutional investors and hedge funds own 28.60% of the company’s stock.

Analyst Upgrades and Downgrades

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

Shell Trading Down 1.7 %

Shares of Shell stock traded down $1.26 during trading on Friday, hitting $71.68. 4,216,225 shares of the company were exchanged, compared to its average volume of 3,190,311. The firm has a market capitalization of $226.66 billion, a P/E ratio of 13.23, a price-to-earnings-growth ratio of 1.66 and a beta of 0.59. Shell plc has a 1-year low of $59.58 and a 1-year high of $74.61. The firm’s fifty day moving average price is $71.58 and its 200 day moving average price is $68.90. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.42 and a quick ratio of 1.14.

Shell (NYSE:SHEL) last released its quarterly earnings data on Thursday, August 1st. The energy company reported $1.97 earnings per share for the quarter, beating the consensus estimate of $1.82 by $0.15. Shell had a return on equity of 14.51% and a net margin of 5.97%. The business had revenue of $75.06 billion for the quarter, compared to analysts’ expectations of $88.62 billion. During the same quarter in the previous year, the business posted $1.50 EPS. As a group, sell-side analysts expect that Shell plc will post 8.53 earnings per share for the current fiscal year.

Shell Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 23rd. Stockholders of record on Friday, August 16th will be issued a dividend of $0.688 per share. This represents a $2.75 annualized dividend and a dividend yield of 3.84%. The ex-dividend date of this dividend is Thursday, August 15th. Shell’s dividend payout ratio (DPR) is presently 50.74%.

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.