Shell plc (NYSE:SHEL) Stock Position Lowered by Kathmere Capital Management LLC

Kathmere Capital Management LLC lowered its position in shares of Shell plc (NYSE:SHEL) by 9.4% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,264 shares of the energy company’s stock after selling 340 shares during the quarter. Kathmere Capital Management LLC’s holdings in Shell were worth $215,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Mondrian Investment Partners LTD grew its holdings 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 acquiring an additional 993,342 shares during the last quarter. Mawer Investment Management Ltd. increased its stake in Shell by 19.9% in the 4th quarter. Mawer Investment Management Ltd. now owns 5,325,276 shares of the energy company’s stock worth $350,403,000 after purchasing an additional 885,069 shares in the last quarter. CIBC Private Wealth Group LLC raised its holdings in Shell by 130.7% during the 4th 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 during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Shell by 13.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,715,078 shares of the energy company’s stock worth $450,180,000 after buying an additional 772,736 shares during the period. Finally, Senator Investment Group LP purchased a new position in shares of Shell in the first quarter worth approximately $42,775,000. 28.60% of the stock is owned by institutional investors and hedge funds.

Shell Price Performance

NYSE SHEL traded down $1.26 on Friday, reaching $71.68. The company’s stock had a trading volume of 4,216,225 shares, compared to its average volume of 3,190,311. The firm has a market cap of $226.66 billion, a PE ratio of 13.23, a price-to-earnings-growth ratio of 1.66 and a beta of 0.59. The company has a current ratio of 1.42, a quick ratio of 1.14 and a debt-to-equity ratio of 0.37. Shell plc has a 52 week low of $59.58 and a 52 week high of $74.61. The business has a 50-day moving average price of $71.58 and a 200 day moving average price of $68.90.

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

Shell Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 23rd. Shareholders of record on Friday, August 16th will be given a $0.688 dividend. The ex-dividend date is Friday, August 16th. This represents a $2.75 annualized dividend and a yield of 3.84%. Shell’s payout ratio is 50.74%.

Analysts Set New Price Targets

SHEL has been the subject of several research analyst reports. TD Securities increased their price objective on Shell from $74.00 to $81.00 and gave the stock a “buy” rating in a research note on Friday, May 3rd. Royal Bank of Canada raised shares of Shell to a “moderate buy” rating in a research note on Tuesday, July 30th. Wells Fargo & Company cut 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. Argus boosted their target price on Shell from $77.00 to $79.00 and gave the company a “buy” rating in a research note on Thursday, June 6th. Finally, Scotiabank cut their price target on Shell from $95.00 to $90.00 and set a “sector outperform” rating for the company in a research note on Friday, July 12th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Shell has an average rating of “Moderate Buy” and a consensus price target of $73.40.

Shell 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.