Moody National Bank Trust Division purchased a new stake in Shell plc (NYSE:SHEL – Get Rating) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 5,934 shares of the energy company’s stock, valued at approximately $310,000.
Other institutional investors also recently modified their holdings of the company. Profund Advisors LLC bought a new stake in shares of Shell in the first quarter valued at about $883,000. Dixon Hughes Goodman Wealth Advisors LLC bought a new stake in Shell during the first quarter worth about $114,000. Toronto Dominion Bank bought a new stake in Shell during the first quarter worth about $206,000. Qube Research & Technologies Ltd bought a new stake in Shell during the first quarter worth about $1,572,000. Finally, Bogart Wealth LLC bought a new stake in Shell during the first quarter worth about $1,058,000. 7.65% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
SHEL has been the topic of several analyst reports. ING Group upgraded Shell from a “hold” rating to a “buy” rating in a report on Tuesday, July 12th. Credit Suisse Group began coverage on Shell in a report on Thursday, June 9th. They set an “outperform” rating on the stock. JPMorgan Chase & Co. raised their price objective on Shell from GBX 2,850 ($34.44) to GBX 3,000 ($36.25) in a research report on Friday, July 15th. Royal Bank of Canada boosted their target price on Shell from GBX 3,100 ($37.46) to GBX 3,200 ($38.67) in a report on Friday, July 29th. Finally, HSBC reduced their price objective on shares of Shell from GBX 2,700 ($32.62) to GBX 2,550 ($30.81) in a research report on Wednesday, July 20th. Six analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $2,134.13.
Shell Trading Down 0.1 %
Shell Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, September 19th. Stockholders of record on Friday, August 12th were given a $0.50 dividend. The ex-dividend date was Thursday, August 11th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.81%. Shell’s 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.
- Get a free copy of the StockNews.com research report on Shell (SHEL)
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