Shell plc (NYSE:SHEL) Shares Sold by OLD National Bancorp IN

OLD National Bancorp IN reduced its holdings in Shell plc (NYSE:SHEL - Free Report) by 29.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,560 shares of the energy company's stock after selling 4,385 shares during the period. OLD National Bancorp IN's holdings in Shell were worth $774,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the business. Kennebec Savings Bank acquired a new stake in Shell during the 1st quarter worth about $25,000. RDA Financial Network grew its holdings in Shell by 14.5% during the first quarter. RDA Financial Network now owns 4,437 shares of the energy company's stock worth $325,000 after acquiring an additional 562 shares during the period. Wedmont Private Capital raised its position in Shell by 3.4% during the first quarter. Wedmont Private Capital now owns 11,296 shares of the energy company's stock valued at $828,000 after acquiring an additional 376 shares in the last quarter. Sivia Capital Partners LLC lifted its holdings in Shell by 7.1% in the first quarter. Sivia Capital Partners LLC now owns 7,969 shares of the energy company's stock valued at $584,000 after acquiring an additional 525 shares during the period. Finally, Pines Wealth Management LLC boosted its position in Shell by 7.0% in the 1st quarter. Pines Wealth Management LLC now owns 11,811 shares of the energy company's stock worth $866,000 after purchasing an additional 768 shares in the last quarter. Hedge funds and other institutional investors own 28.60% of the company's stock.

Shell Trading Up 2.6%

SHEL stock traded up $1.79 during trading on Tuesday, reaching $70.05. 4,595,149 shares of the stock were exchanged, compared to its average volume of 4,304,547. The business has a 50 day moving average price of $65.37 and a 200-day moving average price of $65.89. Shell plc has a 1 year low of $58.55 and a 1 year high of $74.46. The company has a current ratio of 1.35, a quick ratio of 1.10 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $209.35 billion, a price-to-earnings ratio of 13.95, a P/E/G ratio of 0.98 and a beta of 0.39.

Shell (NYSE:SHEL - Get Free Report) last posted its earnings results on Friday, May 2nd. The energy company reported $1.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.30. Shell had a return on equity of 12.75% and a net margin of 5.57%. The company had revenue of $69.23 billion during the quarter, compared to analysts' expectations of $79.18 billion. During the same quarter last year, the firm earned $2.40 earnings per share. On average, research analysts predict that Shell plc will post 7.67 earnings per share for the current year.

Shell declared that its Board of Directors has approved a stock repurchase program on Friday, May 2nd that authorizes the company to repurchase $3.50 billion in outstanding shares. This repurchase authorization authorizes the energy company to repurchase up to 1.8% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board believes its stock is undervalued.

Shell Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 23rd. Shareholders of record on Friday, May 16th will be paid a dividend of $0.716 per share. This represents a $2.86 annualized dividend and a yield of 4.09%. The ex-dividend date of this dividend is Friday, May 16th. Shell's dividend payout ratio (DPR) is presently 65.90%.

Analysts Set New Price Targets

Several research firms recently issued reports on SHEL. Royal Bank of Canada reiterated an "outperform" rating on shares of Shell in a research note on Wednesday, March 26th. Scotiabank decreased their price objective on shares of Shell from $75.00 to $70.00 and set a "sector outperform" rating for the company in a research report on Friday, April 11th. Wells Fargo & Company reduced their price target on Shell from $83.00 to $80.00 and set an "overweight" rating for the company in a report on Monday, May 5th. TD Cowen dropped their price objective on Shell from $82.00 to $76.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Finally, Hsbc Global Res raised shares of Shell to a "strong-buy" rating in a research note on Tuesday, May 13th. One investment analyst has rated the stock with a hold rating, ten have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, Shell presently has an average rating of "Buy" and an average target price of $78.26.

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.