Burke & Herbert Bank & Trust Co. Acquires New Holdings in Shell plc (NYSE:SHEL)

Burke & Herbert Bank & Trust Co. bought a new stake in shares of Shell plc (NYSE:SHEL) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 6,910 shares of the energy company’s stock, valued at approximately $499,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SHEL. Team Hewins LLC bought a new stake in Shell during the fourth quarter worth approximately $769,000. Lazard Asset Management LLC lifted its holdings in shares of Shell by 21.0% in the first quarter. Lazard Asset Management LLC now owns 44,896 shares of the energy company’s stock valued at $3,009,000 after buying an additional 7,779 shares during the period. Westwood Global Investments LLC grew its holdings in Shell by 14.4% during the fourth quarter. Westwood Global Investments LLC now owns 2,417,326 shares of the energy company’s stock worth $159,060,000 after acquiring an additional 304,871 shares during the period. Cantor Fitzgerald Investment Advisors L.P. bought a new stake in Shell in the fourth quarter worth about $22,628,000. Finally, Pingora Partners LLC bought a new position in shares of Shell during the 4th quarter valued at about $1,306,000. 28.60% of the stock is currently owned by institutional investors.

Shell Stock Down 0.2 %

Shares of Shell stock opened at $72.30 on Wednesday. The company has a current ratio of 1.41, a quick ratio of 1.12 and a debt-to-equity ratio of 0.35. Shell plc has a 1 year low of $60.13 and a 1 year high of $74.61. The stock has a 50-day moving average price of $71.52 and a 200 day moving average price of $69.35. The company has a market cap of $227.48 billion, a P/E ratio of 13.34, a P/E/G ratio of 1.59 and a beta of 0.59.

Shell (NYSE:SHEL) last posted its quarterly earnings results on Thursday, August 1st. The energy company reported $1.97 EPS for the quarter, topping the consensus estimate of $1.82 by $0.15. The business had revenue of $75.06 billion during the quarter, compared to analysts’ expectations of $88.62 billion. Shell had a net margin of 5.97% and a return on equity of 14.56%. During the same period last year, the company posted $1.50 earnings per share. As a group, analysts expect that Shell plc will post 8.63 EPS for the current fiscal year.

Shell Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 23rd. Stockholders of record on Friday, August 16th will be paid a $0.688 dividend. This represents a $2.75 dividend on an annualized basis and a dividend yield of 3.81%. The ex-dividend date of this dividend is Friday, August 16th. Shell’s dividend payout ratio (DPR) is presently 50.74%.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. TD Securities boosted their target price on shares of Shell from $74.00 to $81.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. Royal Bank of Canada upgraded Shell to a “moderate buy” rating in a research report on Tuesday, July 30th. Berenberg Bank upgraded Shell to a “strong-buy” rating in a report on Monday, August 5th. Wells Fargo & Company decreased their price target on Shell from $91.00 to $90.00 and set an “overweight” rating for the company in a research report on Friday, June 21st. Finally, Wolfe Research began coverage on Shell in a report on Thursday, July 18th. They set a “peer perform” rating on the stock. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Shell has an average rating of “Moderate Buy” and a consensus price target of $85.00.

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 to deliver gas to market.