Thornburg Investment Management Inc. Trims Holdings in Shell plc (NYSE:SHEL)

Thornburg Investment Management Inc. lessened its holdings in Shell plc (NYSE:SHEL) by 5.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 91,148 shares of the energy company’s stock after selling 5,557 shares during the quarter. Thornburg Investment Management Inc.’s holdings in Shell were worth $6,587,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. BOKF NA raised its holdings in shares of Shell by 8.8% during the second quarter. BOKF NA now owns 52,677 shares of the energy company’s stock worth $3,802,000 after purchasing an additional 4,268 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Shell by 7.3% during the 2nd quarter. American Century Companies Inc. now owns 787,069 shares of the energy company’s stock valued at $56,811,000 after buying an additional 53,209 shares during the last quarter. LPL Financial LLC boosted its stake in shares of Shell by 8.0% in the second quarter. LPL Financial LLC now owns 743,891 shares of the energy company’s stock worth $53,694,000 after buying an additional 55,297 shares during the last quarter. Angeles Wealth Management LLC raised its position in Shell by 33.5% during the second quarter. Angeles Wealth Management LLC now owns 4,022 shares of the energy company’s stock valued at $290,000 after acquiring an additional 1,010 shares in the last quarter. Finally, SIR Capital Management L.P. boosted its position in Shell by 3.2% in the 2nd quarter. SIR Capital Management L.P. now owns 89,200 shares of the energy company’s stock worth $6,438,000 after purchasing an additional 2,800 shares in the last quarter. 28.60% of the stock is owned by hedge funds and other institutional investors.

Shell Price Performance

Shares of Shell stock opened at $66.98 on Friday. The stock has a market capitalization of $209.70 billion, a P/E ratio of 12.36, a PEG ratio of 1.50 and a beta of 0.57. The business has a 50 day simple moving average of $71.56 and a two-hundred day simple moving average of $70.41. Shell plc has a 12 month low of $60.34 and a 12 month high of $74.61. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.41 and a quick ratio of 1.12.

Shell (NYSE:SHEL) last announced its quarterly earnings data on Thursday, August 1st. The energy company reported $1.97 earnings per share for the quarter, beating analysts’ consensus estimates of $1.82 by $0.15. The company had revenue of $75.06 billion for the quarter, compared to analyst estimates of $88.62 billion. Shell had a return on equity of 14.56% and a net margin of 5.97%. During the same quarter last year, the firm posted $1.50 EPS. As a group, analysts predict that Shell plc will post 8.61 EPS for the current fiscal year.

Shell Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 23rd. Shareholders 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 yield of 4.11%. The ex-dividend date is Friday, August 16th. Shell’s dividend payout ratio (DPR) is 50.74%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on SHEL shares. Royal Bank of Canada upgraded shares of Shell to a “moderate buy” rating in a research note on Tuesday, July 30th. Argus increased their target price on shares of Shell from $77.00 to $79.00 and gave the stock a “buy” rating in a research note on Thursday, June 6th. Berenberg Bank upgraded Shell to a “strong-buy” rating in a research note on Monday, August 5th. Wolfe Research began coverage on Shell in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Finally, Wells Fargo & Company reduced their target price on Shell from $91.00 to $90.00 and set an “overweight” rating for the company in a research note on Friday, June 21st. Two 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. Based on data from MarketBeat, the company has an average 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.