Renaissance Group LLC Decreases Position in Shell plc (NYSE:SHEL)

Renaissance Group LLC trimmed its position in Shell plc (NYSE:SHEL) by 1.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 107,305 shares of the energy company’s stock after selling 1,938 shares during the period. Renaissance Group LLC’s holdings in Shell were worth $6,174,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Acadian Asset Management LLC acquired a new stake in Shell during the 1st quarter worth about $443,000. Yousif Capital Management LLC acquired a new stake in shares of Shell during the 1st quarter valued at about $3,322,000. Synovus Financial Corp acquired a new stake in shares of Shell during the 1st quarter valued at about $1,018,000. Vontobel Holding Ltd. acquired a new stake in shares of Shell during the 1st quarter valued at about $791,000. Finally, Blair William & Co. IL purchased a new position in Shell in the 1st quarter valued at about $2,090,000. 9.23% of the stock is owned by institutional investors and hedge funds.

Shell Stock Up 0.6 %

Shares of Shell stock traded up $0.38 during trading on Friday, hitting $63.41. 1,757,046 shares of the stock were exchanged, compared to its average volume of 4,609,750. The stock has a market cap of $213.54 billion, a price-to-earnings ratio of 7.71, a price-to-earnings-growth ratio of 0.79 and a beta of 0.67. The firm’s 50-day moving average price is $61.46 and its 200 day moving average price is $60.25. Shell plc has a 12-month low of $46.74 and a 12-month high of $63.69. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.46 and a quick ratio of 1.18.

Shell (NYSE:SHEL) last announced its quarterly earnings results on Thursday, July 27th. The energy company reported $1.50 earnings per share for the quarter, missing analysts’ consensus estimates of $1.59 by ($0.09). Shell had a net margin of 7.94% and a return on equity of 17.65%. The company had revenue of $76.02 billion during the quarter. During the same period in the previous year, the business posted $3.04 earnings per share. As a group, analysts forecast that Shell plc will post 8.56 earnings per share for the current fiscal year.

Shell Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 18th. Shareholders of record on Friday, August 11th will be paid a $0.662 dividend. This is an increase from Shell’s previous quarterly dividend of $0.58. This represents a $2.65 annualized dividend and a dividend yield of 4.18%. The ex-dividend date is Thursday, August 10th. Shell’s dividend payout ratio (DPR) is 32.40%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Morgan Stanley raised shares of Shell from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, June 21st. Piper Sandler decreased their target price on shares of Shell from $75.00 to $67.00 in a research note on Tuesday, June 13th. Finally, Royal Bank of Canada reduced their price target on shares of Shell from 28.00 to 27.00 and set an “outperform” rating on the stock in a research report on Friday, August 11th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $1,992.17.

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 necessary to deliver gas to market.