Thornburg Investment Management Inc. Trims Position in Shell plc (NYSE:SHEL)

Thornburg Investment Management Inc. reduced its position in shares of Shell plc (NYSE:SHEL) by 5.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 91,148 shares of the energy company’s stock after selling 5,557 shares during the period. Thornburg Investment Management Inc.’s holdings in Shell were worth $6,587,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Aveo Capital Partners LLC lifted its stake in shares of Shell by 20.0% in the 4th quarter. Aveo Capital Partners LLC now owns 5,376 shares of the energy company’s stock valued at $354,000 after purchasing an additional 896 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Shell by 37.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 98,706 shares of the energy company’s stock valued at $6,495,000 after buying an additional 26,729 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake in Shell by 1.7% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 49,056 shares of the energy company’s stock worth $3,228,000 after buying an additional 831 shares during the period. Wade G W & Inc. raised its stake in shares of Shell by 1.5% in the 4th quarter. Wade G W & Inc. now owns 11,886 shares of the energy company’s stock valued at $782,000 after acquiring an additional 174 shares during the period. Finally, Westwood Global Investments LLC lifted its holdings in shares of Shell by 14.4% in the 4th quarter. Westwood Global Investments LLC now owns 2,417,326 shares of the energy company’s stock worth $159,060,000 after acquiring an additional 304,871 shares during the last quarter. 28.60% of the stock is owned by hedge funds and other institutional investors.

Shell Stock Up 1.2 %

Shares of NYSE:SHEL opened at $66.98 on Friday. The company has a quick ratio of 1.12, a current ratio of 1.41 and a debt-to-equity ratio of 0.35. Shell plc has a fifty-two week low of $60.34 and a fifty-two week high of $74.61. The stock has a market cap of $209.70 billion, a price-to-earnings ratio of 12.36, a price-to-earnings-growth ratio of 1.50 and a beta of 0.57. The firm’s 50 day moving average price is $71.56 and its 200 day moving average price is $70.41.

Shell (NYSE:SHEL) last released its quarterly earnings data on Thursday, August 1st. The energy company reported $1.97 earnings per share (EPS) for the quarter, topping 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 business had revenue of $75.06 billion during the quarter, compared to analysts’ expectations of $88.62 billion. During the same period in the previous year, the company earned $1.50 EPS. As a group, equities research analysts predict that Shell plc will post 8.61 earnings per share for the current fiscal year.

Shell Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 23rd. Stockholders of record on Friday, August 16th will be given a dividend of $0.688 per share. This represents a $2.75 annualized dividend and a dividend yield of 4.11%. The ex-dividend date of this dividend is Friday, August 16th. Shell’s dividend payout ratio (DPR) is presently 50.74%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SHEL. Berenberg Bank raised Shell to a “strong-buy” rating in a research report on Monday, August 5th. Royal Bank of Canada upgraded Shell to a “moderate buy” rating in a report on Tuesday, July 30th. Scotiabank reduced their price target on shares of Shell from $95.00 to $90.00 and set a “sector outperform” rating on the stock in a research report on Friday, July 12th. Wells Fargo & Company dropped their price objective on shares of Shell from $91.00 to $90.00 and set an “overweight” rating for the company in a report on Friday, June 21st. Finally, Wolfe Research started coverage on shares of Shell in a report on Thursday, July 18th. They set a “peer perform” rating on the stock. Two equities 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’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $85.00.

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.