E&G Advisors LP Sells 400 Shares of Shell plc (NYSE:SHEL)

E&G Advisors LP lowered its position in shares of Shell plc (NYSE:SHEL) by 7.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,829 shares of the energy company’s stock after selling 400 shares during the period. E&G Advisors LP’s holdings in Shell were worth $324,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Oxinas Partners Wealth Management LLC bought a new stake in Shell in the 1st quarter worth approximately $202,000. Naviter Wealth LLC grew its position in Shell by 12.9% in the 1st quarter. Naviter Wealth LLC now owns 80,288 shares of the energy company’s stock worth $5,383,000 after purchasing an additional 9,153 shares during the period. Iams Wealth Management LLC grew its position in Shell by 5.4% in the 1st quarter. Iams Wealth Management LLC now owns 26,124 shares of the energy company’s stock worth $1,635,000 after purchasing an additional 1,342 shares during the period. Allspring Global Investments Holdings LLC grew its position in Shell by 1,293.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 6,898 shares of the energy company’s stock worth $462,000 after purchasing an additional 6,403 shares during the period. Finally, Hexagon Capital Partners LLC grew its position in Shell by 23.2% in the 1st quarter. Hexagon Capital Partners LLC now owns 3,895 shares of the energy company’s stock worth $261,000 after purchasing an additional 733 shares during the period. Institutional investors own 28.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on SHEL. TD Securities lifted their target price on shares of Shell from $74.00 to $81.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. Wells Fargo & Company cut 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. Finally, Argus boosted their price objective on shares of Shell from $77.00 to $79.00 and gave the company a “buy” rating in a research report on Thursday, June 6th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $69.25.

Shell Price Performance

Shares of SHEL traded down $0.01 during trading hours on Wednesday, reaching $73.03. 1,570,244 shares of the stock traded hands, compared to its average volume of 4,354,420. The company has a current ratio of 1.42, a quick ratio of 1.14 and a debt-to-equity ratio of 0.37. Shell plc has a 52-week low of $58.14 and a 52-week high of $74.61. The company’s 50-day moving average price is $71.52 and its two-hundred day moving average price is $67.75. The company has a market cap of $232.22 billion, a P/E ratio of 13.47, a price-to-earnings-growth ratio of 1.82 and a beta of 0.59.

Shell (NYSE:SHEL) last released its earnings results on Thursday, May 2nd. The energy company reported $2.38 earnings per share for the quarter, beating analysts’ consensus estimates of $1.87 by $0.51. Shell had a net margin of 5.83% and a return on equity of 13.83%. The company had revenue of $74.70 billion for the quarter, compared to analysts’ expectations of $88.03 billion. On average, analysts anticipate that Shell plc will post 8.55 earnings per share for the current year.

Shell Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 24th. Shareholders of record on Friday, May 17th were paid a $0.688 dividend. The ex-dividend date was Thursday, May 16th. This represents a $2.75 annualized dividend and a yield of 3.77%. This is a boost from Shell’s previous quarterly dividend of $0.66. Shell’s 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.