OLD National Bancorp IN Sells 1,353 Shares of Shell plc (NYSE:SHEL)

OLD National Bancorp IN trimmed its holdings in shares of Shell plc (NYSE:SHEL) by 8.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 14,945 shares of the energy company’s stock after selling 1,353 shares during the period. OLD National Bancorp IN’s holdings in Shell were worth $936,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of SHEL. AQR Capital Management LLC raised its position in Shell by 42.7% in the 2nd quarter. AQR Capital Management LLC now owns 21,701 shares of the energy company’s stock worth $1,566,000 after buying an additional 6,495 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in Shell by 2.0% during the second quarter. The Manufacturers Life Insurance Company now owns 17,165 shares of the energy company’s stock valued at $1,239,000 after purchasing an additional 337 shares during the period. Truist Financial Corp boosted its holdings in Shell by 2.5% in the second quarter. Truist Financial Corp now owns 305,661 shares of the energy company’s stock worth $22,063,000 after purchasing an additional 7,327 shares during the last quarter. Clearbridge Investments LLC raised its stake in Shell by 0.7% during the 2nd quarter. Clearbridge Investments LLC now owns 90,242 shares of the energy company’s stock valued at $6,514,000 after buying an additional 610 shares during the last quarter. Finally, Sanctuary Advisors LLC bought a new position in shares of Shell during the 2nd quarter valued at $10,505,000. Hedge funds and other institutional investors own 28.60% of the company’s stock.

Shell Price Performance

Shares of Shell stock opened at $65.82 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.40 and a debt-to-equity ratio of 0.34. Shell plc has a 52 week low of $60.15 and a 52 week high of $74.61. The stock’s 50-day simple moving average is $64.17 and its 200-day simple moving average is $67.36. The company has a market capitalization of $201.23 billion, a price-to-earnings ratio of 13.54, a PEG ratio of 6.46 and a beta of 0.55.

Shell (NYSE:SHEL) last posted its quarterly earnings results on Thursday, January 30th. The energy company reported $1.20 earnings per share for the quarter, missing the consensus estimate of $1.74 by ($0.54). Shell had a return on equity of 14.54% and a net margin of 5.17%. As a group, analysts expect that Shell plc will post 8.11 earnings per share for the current fiscal year.

Shell Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Friday, February 14th will be paid a $0.716 dividend. The ex-dividend date is Friday, February 14th. This represents a $2.86 annualized dividend and a yield of 4.35%. This is a boost from Shell’s previous quarterly dividend of $0.69. Shell’s payout ratio is presently 56.58%.

Analyst Upgrades and Downgrades

SHEL has been the subject of a number of research reports. Wells Fargo & Company reduced their price objective on Shell from $86.00 to $82.00 and set an “overweight” rating for the company in a research report on Friday. Sanford C. Bernstein raised shares of Shell to a “strong-buy” rating in a report on Friday, October 11th. Piper Sandler reduced their target price on shares of Shell from $82.00 to $72.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Wolfe Research raised shares of Shell from a “peer perform” rating to an “outperform” rating and set a $80.00 price objective for the company in a research report on Friday, January 3rd. Finally, Morgan Stanley raised Shell from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $66.50 to $79.80 in a report on Tuesday, January 7th. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, Shell has an average rating of “Buy” and a consensus target price of $79.11.

Shell Company Profile

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.