Gemsstock Ltd. Has $17.93 Million Stake in Shell plc (NYSE:SHEL)

Gemsstock Ltd. trimmed its position in shares of Shell plc (NYSE:SHEL) by 1.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 248,424 shares of the energy company’s stock after selling 2,500 shares during the period. Shell comprises 5.7% of Gemsstock Ltd.’s investment portfolio, making the stock its 7th largest position. Gemsstock Ltd.’s holdings in Shell were worth $17,931,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Team Hewins LLC bought a new stake in shares of Shell in the 4th quarter worth approximately $769,000. Lazard Asset Management LLC grew its position in shares of Shell by 21.0% in the 1st quarter. Lazard Asset Management LLC now owns 44,896 shares of the energy company’s stock worth $3,009,000 after buying an additional 7,779 shares during the last quarter. Raymond James & Associates grew its position in shares of Shell by 65.7% in the 2nd quarter. Raymond James & Associates now owns 1,698,247 shares of the energy company’s stock worth $122,579,000 after buying an additional 673,624 shares during the last quarter. Westwood Global Investments LLC grew its position 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 buying an additional 304,871 shares during the last quarter. Finally, Cantor Fitzgerald Investment Advisors L.P. bought a new stake in shares of Shell during the fourth quarter valued at approximately $22,628,000. 28.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Royal Bank of Canada upgraded Shell to a “moderate buy” rating in a research report on Tuesday, July 30th. Wells Fargo & Company dropped their target price on Shell from $91.00 to $90.00 and set an “overweight” rating on the stock in a report on Friday, June 21st. Argus boosted their target price on Shell from $77.00 to $79.00 and gave the stock a “buy” rating in a report on Thursday, June 6th. Wolfe Research initiated coverage on Shell in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Finally, Scotiabank dropped their target price on Shell from $95.00 to $90.00 and set a “sector outperform” rating on the stock in a report on Friday, July 12th. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $85.00.

Shell Stock Performance

SHEL traded down $1.21 during midday trading on Friday, reaching $66.91. The company had a trading volume of 5,196,362 shares, compared to its average volume of 4,096,644. The company has a quick ratio of 1.12, a current ratio of 1.41 and a debt-to-equity ratio of 0.35. The business has a 50-day moving average of $72.05 and a two-hundred day moving average of $70.29. The company has a market cap of $211.57 billion, a P/E ratio of 12.35, a P/E/G ratio of 1.59 and a beta of 0.57. Shell plc has a 1 year low of $60.34 and a 1 year high of $74.61.

Shell (NYSE:SHEL) last released its quarterly earnings data on Thursday, August 1st. The energy company reported $1.97 earnings per share for the quarter, topping analysts’ consensus estimates of $1.82 by $0.15. The firm had revenue of $75.06 billion during the quarter, compared to analyst estimates of $88.62 billion. Shell had a return on equity of 14.56% and a net margin of 5.97%. During the same quarter in the prior year, the company posted $1.50 earnings per share. As a group, equities research analysts predict that Shell plc will post 8.58 earnings per share for the current fiscal year.

Shell Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 23rd. Stockholders of record on Friday, August 16th will be paid a $0.688 dividend. This represents a $2.75 dividend on an annualized basis 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 50.74%.

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.