Oppenheimer Asset Management Inc. Raises Position in Shell plc (NYSE:SHEL)

Oppenheimer Asset Management Inc. raised its position in shares of Shell plc (NYSE:SHEL) by 27.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 223,053 shares of the energy company’s stock after acquiring an additional 47,396 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Shell were worth $16,100,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in SHEL. Fisher Asset Management LLC boosted its stake in Shell by 1.9% during the 4th quarter. Fisher Asset Management LLC now owns 22,823,227 shares of the energy company’s stock worth $1,501,768,000 after purchasing an additional 429,528 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in Shell by 13.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,715,078 shares of the energy company’s stock valued at $450,180,000 after acquiring an additional 772,736 shares in the last quarter. Franklin Resources Inc. raised its holdings in Shell by 2.4% in the 4th quarter. Franklin Resources Inc. now owns 6,173,651 shares of the energy company’s stock valued at $406,226,000 after acquiring an additional 143,910 shares during the last quarter. Westwood Global Investments LLC lifted its stake in Shell by 1.2% in the 1st quarter. Westwood Global Investments LLC now owns 2,446,144 shares of the energy company’s stock worth $163,989,000 after purchasing an additional 28,818 shares in the last quarter. Finally, Mondrian Investment Partners LTD grew its position in shares of Shell by 83.2% in the first quarter. Mondrian Investment Partners LTD now owns 2,187,872 shares of the energy company’s stock valued at $146,675,000 after purchasing an additional 993,342 shares in the last quarter. Hedge funds and other institutional investors own 28.60% of the company’s stock.

Shell Stock Performance

NYSE SHEL opened at $67.45 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.41 and a quick ratio of 1.12. The company has a market cap of $213.28 billion, a P/E ratio of 12.44, a P/E/G ratio of 1.50 and a beta of 0.57. The stock has a 50-day moving average of $71.32 and a two-hundred day moving average of $70.42. Shell plc has a 1-year low of $60.34 and a 1-year high of $74.61.

Shell (NYSE:SHEL) last announced its earnings results on Thursday, August 1st. The energy company reported $1.97 earnings per share for the quarter, topping the consensus estimate of $1.82 by $0.15. Shell had a net margin of 5.97% and a return on equity of 14.56%. The firm had revenue of $75.06 billion for the quarter, compared to the consensus estimate of $88.62 billion. During the same period in the prior year, the firm earned $1.50 EPS. As a group, analysts anticipate that Shell plc will post 8.61 EPS for the current year.

Shell Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 23rd. Investors of record on Friday, August 16th will be paid a dividend of $0.688 per share. The ex-dividend date is Friday, August 16th. This represents a $2.75 annualized dividend and a yield of 4.08%. Shell’s payout ratio is 50.74%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on SHEL. Royal Bank of Canada upgraded Shell to a “moderate buy” rating in a research report on Tuesday, July 30th. Wolfe Research initiated coverage on shares of Shell in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Berenberg Bank upgraded shares of Shell to a “strong-buy” rating in a research report on Monday, August 5th. Scotiabank dropped their price target on shares of Shell from $95.00 to $90.00 and set a “sector outperform” rating for the company in a research note on Friday, July 12th. Finally, Wells Fargo & Company reduced their price target on shares of Shell from $91.00 to $90.00 and set an “overweight” rating on the stock in a research report on Friday, June 21st. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.