Park National Corp OH Sells 4,270 Shares of Shell plc (NYSE:SHEL)

Park National Corp OH decreased its holdings in Shell plc (NYSE:SHEL - Free Report) by 15.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 23,165 shares of the energy company's stock after selling 4,270 shares during the quarter. Park National Corp OH's holdings in Shell were worth $1,698,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. FMR LLC lifted its position in shares of Shell by 32.3% in the 4th quarter. FMR LLC now owns 86,417,177 shares of the energy company's stock worth $5,414,036,000 after purchasing an additional 21,118,234 shares during the period. Voloridge Investment Management LLC increased its stake in Shell by 170.3% in the 4th quarter. Voloridge Investment Management LLC now owns 3,463,372 shares of the energy company's stock valued at $216,980,000 after buying an additional 2,182,253 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Shell in the 4th quarter worth about $91,716,000. Freestone Grove Partners LP acquired a new position in shares of Shell during the 4th quarter valued at about $83,204,000. Finally, Merewether Investment Management LP boosted its stake in shares of Shell by 46.5% during the 4th quarter. Merewether Investment Management LP now owns 2,262,997 shares of the energy company's stock valued at $141,777,000 after buying an additional 718,233 shares during the last quarter. Institutional investors own 28.60% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. TD Cowen reduced their price target on Shell from $82.00 to $76.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Piper Sandler lifted their price target on Shell from $72.00 to $80.00 and gave the company an "overweight" rating in a research note on Tuesday, May 13th. Wells Fargo & Company cut their target price on Shell from $83.00 to $80.00 and set an "overweight" rating on the stock in a research note on Monday, May 5th. TD Securities restated a "buy" rating on shares of Shell in a research report on Friday, April 4th. Finally, Barclays restated an "overweight" rating on shares of Shell in a report on Wednesday, March 26th. One analyst has rated the stock with a hold rating, eleven have given a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat, Shell presently has a consensus rating of "Buy" and an average price target of $78.35.

Shell Price Performance

Shares of Shell stock traded up $0.71 during trading hours on Tuesday, hitting $68.16. The company's stock had a trading volume of 1,568,972 shares, compared to its average volume of 4,287,160. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.10 and a current ratio of 1.35. The company has a market cap of $203.72 billion, a PE ratio of 13.58, a PEG ratio of 0.98 and a beta of 0.38. The business has a 50 day moving average price of $65.89 and a two-hundred day moving average price of $65.83. Shell plc has a 12-month low of $58.55 and a 12-month high of $74.46.

Shell (NYSE:SHEL - Get Free Report) last issued its earnings results on Friday, May 2nd. The energy company reported $1.84 EPS for the quarter, topping 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 net margin of 5.57% and a return on equity of 12.75%. During the same quarter in the previous year, the firm posted $2.40 earnings per share. Analysts expect that Shell plc will post 7.67 earnings per share for the current fiscal year.

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

Shell Dividend Announcement

The company also recently disclosed 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. The ex-dividend date of this dividend is Friday, May 16th. This represents a $2.86 annualized dividend and a yield of 4.20%. Shell's dividend payout ratio is 65.90%.

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.