Meitav Investment House Ltd. purchased a new position in shares of Shell plc (NYSE:SHEL – Free Report) during the 2nd quarter, Holdings Channel reports. The fund purchased 27,724 shares of the energy company’s stock, valued at approximately $1,674,000.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. McClarren Financial Advisors Inc. bought a new stake in Shell during the 2nd quarter worth about $30,000. America First Investment Advisors LLC bought a new stake in shares of Shell in the 1st quarter valued at about $32,000. Venturi Wealth Management LLC acquired a new stake in Shell in the 1st quarter valued at about $32,000. Nelson Van Denburg & Campbell Wealth Management Group LLC acquired a new position in Shell during the first quarter worth approximately $41,000. Finally, Larson Financial Group LLC raised its stake in Shell by 50.2% in the first quarter. Larson Financial Group LLC now owns 739 shares of the energy company’s stock valued at $43,000 after buying an additional 247 shares during the period. 9.23% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
Separately, Royal Bank of Canada cut their price objective on Shell from 28.00 to 27.00 and set an “outperform” rating for the company in a research report on Friday, August 11th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $1,806.20.
Shell Stock Performance
NYSE:SHEL opened at $64.60 on Friday. The stock has a market cap of $214.67 billion, a P/E ratio of 7.65, a PEG ratio of 0.85 and a beta of 0.63. The stock has a 50 day simple moving average of $65.53 and a 200 day simple moving average of $62.27. The company has a current ratio of 1.48, a quick ratio of 1.17 and a debt-to-equity ratio of 0.37. Shell plc has a 1-year low of $52.47 and a 1-year high of $68.74.
Shell Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 20th. Investors of record on Friday, November 17th will be issued a dividend of $0.662 per share. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $2.65 annualized dividend and a yield of 4.10%. Shell’s payout ratio is currently 31.40%.
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.
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