Old Port Advisors Acquires 393 Shares of Shell plc (NYSE:SHEL)

Old Port Advisors increased its stake in shares of Shell plc (NYSE:SHEL) by 11.5% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 3,824 shares of the energy company’s stock after buying an additional 393 shares during the period. Old Port Advisors’ holdings in Shell were worth $252,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP increased its position in Shell by 0.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 22,722,317 shares of the energy company’s stock valued at $1,640,082,000 after acquiring an additional 96,549 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in Shell by 13.0% in 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. Westwood Global Investments LLC boosted its stake in shares of Shell by 4.1% in the 2nd quarter. Westwood Global Investments LLC now owns 2,546,523 shares of the energy company’s stock valued at $183,808,000 after purchasing an additional 100,379 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Shell by 6.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 2,248,366 shares of the energy company’s stock valued at $162,287,000 after purchasing an additional 136,139 shares during the last quarter. Finally, Mondrian Investment Partners LTD boosted its stake in shares of Shell by 83.2% in the 1st 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 during the last quarter. Institutional investors and hedge funds own 28.60% of the company’s stock.

Shell Stock Down 1.1 %

Shell stock opened at $65.31 on Wednesday. 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 firm has a market capitalization of $203.25 billion, a price-to-earnings ratio of 12.05, a PEG ratio of 1.84 and a beta of 0.56. The company’s 50 day simple moving average is $68.49 and its 200 day simple moving average is $70.66. Shell plc has a fifty-two week low of $60.34 and a fifty-two week high of $74.61.

Shell (NYSE:SHEL) last announced its 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 firm 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 period last year, the company posted $1.50 EPS. As a group, sell-side analysts anticipate that Shell plc will post 8.45 EPS for the current year.

Shell Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Friday, August 16th were issued a dividend of $0.688 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $2.75 annualized dividend and a yield of 4.21%. Shell’s dividend payout ratio (DPR) is currently 50.74%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Scotiabank reduced their target price on shares of Shell from $90.00 to $80.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Royal Bank of Canada raised shares of Shell to a “moderate buy” rating in a research note on Tuesday, July 30th. Berenberg Bank raised shares of Shell to a “strong-buy” rating in a research note on Monday, August 5th. Citigroup raised shares of Shell to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Wells Fargo & Company lifted their price objective on shares of Shell from $84.00 to $88.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Three analysts have rated the stock with a hold rating, four have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $82.00.

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.