Cardinal Capital Management Has $3.32 Million Stock Position in Shell plc (NYSE:SHEL)

Cardinal Capital Management cut its stake in shares of Shell plc (NYSE:SHEL) by 1.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 54,939 shares of the energy company’s stock after selling 996 shares during the period. Cardinal Capital Management’s holdings in Shell were worth $3,317,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of SHEL. Acadian Asset Management LLC bought a new stake in shares of Shell in the first quarter valued at about $443,000. Yousif Capital Management LLC bought a new stake in shares of Shell in the first quarter valued at approximately $3,322,000. Synovus Financial Corp bought a new stake in shares of Shell in the first quarter valued at approximately $1,018,000. Vontobel Holding Ltd. bought a new stake in Shell during the first quarter worth about $791,000. Finally, Blair William & Co. IL bought a new stake in Shell during the first quarter worth about $2,090,000. 9.23% of the stock is currently owned by institutional investors and hedge funds.

Shell Stock Up 0.9 %

Shares of NYSE SHEL opened at $65.23 on Tuesday. The company has a 50 day simple moving average of $62.06 and a 200 day simple moving average of $60.41. The firm has a market cap of $219.67 billion, a PE ratio of 7.97, a price-to-earnings-growth ratio of 0.80 and a beta of 0.67. Shell plc has a 1 year low of $46.74 and a 1 year high of $65.37. 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 earnings results on Thursday, July 27th. The energy company reported $1.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.59 by ($0.09). The company had revenue of $76.02 billion for the quarter. Shell had a return on equity of 17.65% and a net margin of 7.94%. During the same period in the prior year, the company posted $3.04 earnings per share. On average, research analysts forecast that Shell plc will post 8.64 EPS for the current year.

Shell Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 18th. Shareholders of record on Friday, August 11th were issued a dividend of $0.662 per share. This is a positive change from Shell’s previous quarterly dividend of $0.58. The ex-dividend date was Thursday, August 10th. This represents a $2.65 annualized dividend and a yield of 4.06%. Shell’s dividend payout ratio (DPR) is presently 32.40%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Morgan Stanley upgraded Shell from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, June 21st. Piper Sandler cut their target price on Shell from $75.00 to $67.00 in a research note on Tuesday, June 13th. Finally, Royal Bank of Canada dropped their target price on shares of Shell from 28.00 to 27.00 and set an “outperform” rating for the company in a report on Friday, August 11th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus 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.