Letko Brosseau & Associates Inc. Sells 15,380 Shares of Shell plc (NYSE:SHEL)

Letko Brosseau & Associates Inc. reduced its holdings in shares of Shell plc (NYSE:SHEL) by 1.7% in the second quarter, HoldingsChannel reports. The fund owned 871,697 shares of the energy company’s stock after selling 15,380 shares during the period. Letko Brosseau & Associates Inc.’s holdings in Shell were worth $62,919,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of SHEL. Mondrian Investment Partners LTD raised its position in shares of Shell by 83.2% in the 1st 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 last quarter. CIBC Private Wealth Group LLC lifted its stake in shares of Shell by 130.7% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,400,186 shares of the energy company’s stock worth $92,132,000 after buying an additional 793,136 shares in the last quarter. Price T Rowe Associates Inc. MD grew 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 buying an additional 772,736 shares during the last quarter. Raymond James & Associates raised its holdings in Shell by 65.7% in the 2nd quarter. Raymond James & Associates now owns 1,698,247 shares of the energy company’s stock worth $122,579,000 after acquiring an additional 673,624 shares during the last quarter. Finally, Senator Investment Group LP bought a new position in Shell in the 1st quarter valued at approximately $42,775,000. Hedge funds and other institutional investors own 28.60% of the company’s stock.

Shell Stock Performance

Shares of Shell stock traded down $1.21 on Friday, hitting $66.91. 5,196,362 shares of the company’s stock were exchanged, compared to its average volume of 4,096,644. Shell plc has a 1 year low of $60.34 and a 1 year high of $74.61. The company has a 50-day simple moving average of $72.05 and a 200-day simple moving average of $70.29. 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 stock has a market capitalization of $211.57 billion, a PE ratio of 12.35, a PEG ratio of 1.59 and a beta of 0.57.

Shell (NYSE:SHEL) last released its quarterly earnings results on Thursday, August 1st. The energy company reported $1.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.82 by $0.15. Shell had a return on equity of 14.56% and a net margin of 5.97%. The business had revenue of $75.06 billion during the quarter, compared to analyst estimates of $88.62 billion. During the same quarter in the previous year, the company posted $1.50 earnings per share. As a group, equities analysts anticipate that Shell plc will post 8.58 EPS for the current year.

Shell Announces Dividend

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 issued a dividend of $0.688 per share. This represents a $2.75 annualized dividend and a yield of 4.11%. The ex-dividend date is Friday, August 16th. Shell’s dividend payout ratio is currently 50.74%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SHEL. Wells Fargo & Company lowered their price target on Shell from $91.00 to $90.00 and set an “overweight” rating on the stock in a report on Friday, June 21st. Argus boosted their price objective on shares of Shell from $77.00 to $79.00 and gave the company a “buy” rating in a report on Thursday, June 6th. Wolfe Research assumed coverage on shares of Shell in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Berenberg Bank raised Shell to a “strong-buy” rating in a report on Monday, August 5th. Finally, Royal Bank of Canada raised 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 issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Shell has an average rating of “Moderate Buy” and a consensus price target of $85.00.

About Shell

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.