SouthState Corp bought a new stake in Shell plc (NYSE:SHEL – Get Rating) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,024 shares of the energy company’s stock, valued at approximately $56,000.
Other hedge funds have also recently made changes to their positions in the company. Exchange Traded Concepts LLC bought a new stake in shares of Shell during the 1st quarter valued at $26,000. Asset Dedication LLC bought a new stake in shares of Shell during the 1st quarter valued at $27,000. Pflug Koory LLC bought a new stake in shares of Shell during the 1st quarter valued at $28,000. Creative Financial Designs Inc. ADV bought a new stake in shares of Shell during the 1st quarter valued at $28,000. Finally, Allspring Global Investments Holdings LLC bought a new stake in shares of Shell during the 1st quarter valued at $28,000. 11.72% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
SHEL has been the topic of a number of analyst reports. Morgan Stanley boosted their price objective on Shell from GBX 2,570 ($31.49) to GBX 2,860 ($35.04) in a research note on Wednesday, May 11th. ING Group upgraded Shell from a “hold” rating to a “buy” rating in a research report on Tuesday, July 12th. JPMorgan Chase & Co. boosted their target price on Shell from GBX 2,850 ($34.92) to GBX 3,000 ($36.76) in a research report on Friday, July 15th. HSBC reduced their target price on Shell from GBX 2,700 ($33.08) to GBX 2,550 ($31.25) in a research report on Wednesday, July 20th. Finally, Royal Bank of Canada boosted their target price on Shell from GBX 3,100 ($37.99) to GBX 3,200 ($39.21) in a research report on Friday, July 29th. Six analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $2,134.13.
Shell Price Performance
Shell (NYSE:SHEL – Get Rating) last posted its quarterly earnings data on Thursday, May 5th. The energy company reported $2.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $0.26. The firm had revenue of $83.16 billion during the quarter. Shell had a return on equity of 17.39% and a net margin of 10.70%. Equities analysts predict that Shell plc will post 11.21 earnings per share for the current fiscal year.
Shell Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, September 19th. Investors of record on Friday, August 12th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.85%. The ex-dividend date is Thursday, August 11th. Shell’s dividend payout ratio is presently 21.05%.
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 necessary to deliver gas to market.
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