Cohen Klingenstein LLC Sells 1,000 Shares of Shell plc (NYSE:SHEL)

Cohen Klingenstein LLC lessened its position in Shell plc (NYSE:SHEL) by 0.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 157,098 shares of the energy company’s stock after selling 1,000 shares during the period. Cohen Klingenstein LLC’s holdings in Shell were worth $11,512,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Kennebec Savings Bank acquired a new position in shares of Shell during the 1st quarter worth approximately $25,000. CoreFirst Bank & Trust acquired a new position in Shell in the 4th quarter valued at $28,000. Human Investing LLC acquired a new stake in Shell in the 4th quarter worth about $31,000. Transce3nd LLC acquired a new stake in Shell during the fourth quarter worth approximately $34,000. Finally, Millstone Evans Group LLC acquired a new position in Shell in the fourth quarter valued at about $36,000. 28.60% of the stock is owned by institutional investors and hedge funds.

Shell Stock Performance

NYSE SHEL opened at $70.05 on Wednesday. The company has a quick ratio of 1.10, a current ratio of 1.35 and a debt-to-equity ratio of 0.36. Shell plc has a 12-month low of $58.55 and a 12-month high of $74.46. The firm has a market cap of $209.35 billion, a P/E ratio of 13.95, a price-to-earnings-growth ratio of 0.98 and a beta of 0.39. The company’s 50 day moving average is $65.37 and its 200-day moving average is $65.92.

Shell (NYSE:SHEL) last issued its quarterly earnings results on Friday, May 2nd. The energy company reported $1.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.54 by $0.30. The firm had revenue of $69.23 billion during the quarter, compared to the consensus estimate of $79.18 billion. Shell had a return on equity of 12.75% and a net margin of 5.57%. During the same quarter last year, the company posted $2.40 EPS. Sell-side analysts predict that Shell plc will post 7.67 earnings per share for the current year.

Shell Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 23rd. Stockholders of record on Friday, May 16th will be issued a $0.716 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $2.86 annualized dividend and a dividend yield of 4.09%. Shell’s dividend payout ratio is currently 65.90%.

Shell announced that its board has authorized a stock repurchase plan on Friday, May 2nd that authorizes the company to repurchase $3.50 billion in outstanding shares. This repurchase authorization authorizes the energy company to buy up to 1.8% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on SHEL shares. Piper Sandler lifted their target price on Shell from $72.00 to $80.00 and gave the company an “overweight” rating in a research report on Tuesday, May 13th. TD Cowen dropped their price target on shares of Shell from $82.00 to $76.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. Wells Fargo & Company dropped their price target on Shell from $83.00 to $80.00 and set an “overweight” rating on the stock in a research note on Monday, May 5th. Scotiabank decreased their target price on Shell from $75.00 to $70.00 and set a “sector outperform” rating for the company in a research report on Friday, April 11th. Finally, Royal Bank of Canada reiterated an “outperform” rating on shares of Shell in a research note on Wednesday, March 26th. One equities research analyst has rated the stock with a hold rating, ten have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, Shell has an average rating of “Buy” and an average price target of $78.26.

Shell 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.