Brown Brothers Harriman & Co. Boosts Stock Holdings in Shell plc (NYSE:SHEL)

Brown Brothers Harriman & Co. increased its stake in shares of Shell plc (NYSE:SHEL) by 7.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 84,293 shares of the energy company’s stock after purchasing an additional 5,962 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Shell were worth $6,084,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of SHEL. Hobbs Group Advisors LLC purchased a new stake in shares of Shell during the 2nd quarter worth $26,000. Beaird Harris Wealth Management LLC lifted its holdings in Shell by 611.1% during the 4th quarter. Beaird Harris Wealth Management LLC now owns 448 shares of the energy company’s stock worth $29,000 after buying an additional 385 shares during the last quarter. Triad Wealth Partners LLC purchased a new position in shares of Shell in the 2nd quarter valued at about $31,000. Fairman Group LLC acquired a new stake in shares of Shell during the 4th quarter worth about $45,000. Finally, LRI Investments LLC boosted its holdings in Shell by 3,856.3% in the second quarter. LRI Investments LLC now owns 633 shares of the energy company’s stock valued at $46,000 after purchasing an additional 617 shares in the last quarter. Hedge funds and other institutional investors own 28.60% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Wells Fargo & Company reduced their price objective on shares of Shell from $91.00 to $90.00 and set an “overweight” rating for the company in a research report on Friday, June 21st. Scotiabank dropped their price objective on Shell from $95.00 to $90.00 and set a “sector outperform” rating on the stock in a report on Friday, July 12th. Berenberg Bank raised Shell to a “strong-buy” rating in a report on Monday, August 5th. Royal Bank of Canada upgraded Shell to a “moderate buy” rating in a research note on Tuesday, July 30th. Finally, Wolfe Research assumed coverage on Shell in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Shell currently has a consensus rating of “Moderate Buy” and an average price target of $85.00.

Shell Price Performance

Shares of NYSE SHEL opened at $68.06 on Tuesday. 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 $213.08 billion, a PE ratio of 12.56, a P/E/G ratio of 1.51 and a beta of 0.57. The stock has a fifty day moving average price of $71.23 and a 200 day moving average price of $70.56. Shell plc has a 1-year low of $60.34 and a 1-year high of $74.61.

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

Shell Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 23rd. Investors of record on Friday, August 16th will be issued a dividend of $0.688 per share. This represents a $2.75 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date is Friday, August 16th. Shell’s dividend payout ratio is presently 50.74%.

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.