Shell plc (NYSE:SHEL) Shares Sold by Marble Harbor Investment Counsel LLC

Marble Harbor Investment Counsel LLC trimmed its position in Shell plc (NYSE:SHEL) by 1.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 44,450 shares of the energy company’s stock after selling 800 shares during the quarter. Marble Harbor Investment Counsel LLC’s holdings in Shell were worth $3,208,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of SHEL. Brown Brothers Harriman & Co. raised its stake in Shell by 7.6% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 84,293 shares of the energy company’s stock valued at $6,084,000 after acquiring an additional 5,962 shares during the last quarter. Redwood Wealth Management Group LLC purchased a new position in shares of Shell in the second quarter valued at $60,000. Seven Mile Advisory grew its position in shares of Shell by 7.1% in the second quarter. Seven Mile Advisory now owns 5,916 shares of the energy company’s stock valued at $427,000 after purchasing an additional 393 shares during the last quarter. J.W. Cole Advisors Inc. increased its position in Shell by 7.4% during the 2nd quarter. J.W. Cole Advisors Inc. now owns 12,861 shares of the energy company’s stock worth $928,000 after purchasing an additional 887 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in shares of Shell by 6.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 2,248,366 shares of the energy company’s stock worth $162,287,000 after purchasing an additional 136,139 shares during the period. 28.60% of the stock is owned by hedge funds and other institutional investors.

Shell Stock Performance

Shares of SHEL opened at $67.45 on Monday. The company’s fifty day moving average is $71.32 and its 200-day moving average is $70.52. Shell plc has a 12 month low of $60.34 and a 12 month high of $74.61. The firm has a market cap of $211.17 billion, a price-to-earnings ratio of 12.44, a price-to-earnings-growth ratio of 1.51 and a beta of 0.57. The company has a quick ratio of 1.12, a current ratio of 1.41 and a debt-to-equity ratio of 0.35.

Shell (NYSE:SHEL) last posted its earnings results on Thursday, August 1st. The energy company reported $1.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.82 by $0.15. The business had revenue of $75.06 billion for the quarter, compared to analyst estimates of $88.62 billion. Shell had a net margin of 5.97% and a return on equity of 14.56%. During the same period last year, the business posted $1.50 EPS. Equities analysts expect that Shell plc will post 8.61 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. Investors 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 4.08%. The ex-dividend date of this dividend is Friday, August 16th. Shell’s dividend payout ratio is currently 50.74%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Scotiabank lowered their price objective on shares of Shell from $95.00 to $90.00 and set a “sector outperform” rating for the company in a research note on Friday, July 12th. Wells Fargo & Company cut their price objective on shares of Shell from $91.00 to $90.00 and set an “overweight” rating on the stock in a report on Friday, June 21st. Royal Bank of Canada upgraded shares of Shell to a “moderate buy” rating in a report on Tuesday, July 30th. Berenberg Bank upgraded shares of Shell to a “strong-buy” rating in a research note on Monday, August 5th. Finally, Argus increased their price objective on shares of Shell from $77.00 to $79.00 and gave the stock a “buy” rating in a research note on Thursday, June 6th. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Shell presently has an average rating of “Moderate Buy” and a consensus target price 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.