ICA Group Wealth Management LLC Sells 793 Shares of Shell plc (NYSE:SHEL)

ICA Group Wealth Management LLC lessened its position in Shell plc (NYSE:SHEL) by 50.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 766 shares of the energy company’s stock after selling 793 shares during the period. ICA Group Wealth Management LLC’s holdings in Shell were worth $55,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Fisher Asset Management LLC grew its holdings in Shell by 1.9% in 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 acquiring an additional 429,528 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position 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 during the period. Franklin Resources Inc. lifted its position in Shell by 2.4% during 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 period. Westwood Global Investments LLC lifted its position in Shell by 1.2% during the 1st quarter. Westwood Global Investments LLC now owns 2,446,144 shares of the energy company’s stock valued at $163,989,000 after acquiring an additional 28,818 shares during the period. Finally, Envestnet Asset Management Inc. lifted its position in Shell by 6.4% during 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 acquiring an additional 136,139 shares during the period. Institutional investors own 28.60% of the company’s stock.

Shell Stock Performance

Shares of NYSE SHEL opened at $67.45 on Monday. The firm has a 50 day moving average of $71.32 and a 200 day moving average of $70.52. The company has a current ratio of 1.41, a quick ratio of 1.12 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $211.17 billion, a price-to-earnings ratio of 12.44, a price-to-earnings-growth ratio of 1.51 and a beta of 0.57. Shell plc has a 12-month low of $60.34 and a 12-month 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 (EPS) for the quarter, beating 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 company had revenue of $75.06 billion during the quarter, compared to analyst estimates of $88.62 billion. During the same period in the previous year, the business posted $1.50 earnings per share. On average, research analysts anticipate that Shell plc will post 8.61 earnings per share for the current year.

Shell Announces Dividend

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

Wall Street Analyst Weigh In

Several brokerages have issued reports on SHEL. Royal Bank of Canada raised shares of Shell to a “moderate buy” rating in a report on Tuesday, July 30th. Argus lifted their price target 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 shares of Shell to a “strong-buy” rating in a research note on Monday, August 5th. Wolfe Research began coverage on shares of Shell in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Finally, Wells Fargo & Company reduced their price target on shares of Shell from $91.00 to $90.00 and set an “overweight” rating for the company in a research note on Friday, June 21st. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently 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.