Shell (LON:SHEL) Hits New 1-Year High After Dividend Announcement

Shares of Shell plc (LON:SHEL – Get Rating) reached a new 52-week high during trading on Thursday after the company announced a dividend. The stock traded as high as GBX 2,306.50 ($28.81) and last traded at GBX 2,297.50 ($28.70), with a volume of 2114302 shares trading hands. The stock had previously closed at GBX 2,225 ($27.80).The newly announced dividend which will be paid on Monday, June 27th. Shareholders of record on Thursday, May 19th will be given a dividend of $0.25 per share. This represents a yield of 0.9%. This is a boost from Shell’s previous dividend of $0.24. The ex-dividend date is Thursday, May 19th. Shell’s payout ratio is 0.40%.

SHEL has been the topic of a number of research reports. JPMorgan Chase & Co. reissued an “overweight” rating on shares of Shell in a research note on Wednesday, April 20th. Bank of America began coverage on Shell in a research report on Friday, February 4th. They issued a “buy” rating for the company. Morgan Stanley reiterated an “overweight” rating and set a GBX 2,570 ($32.10) target price on shares of Shell in a report on Monday, April 11th. Jefferies Financial Group set a GBX 2,600 ($32.48) price target on Shell in a report on Wednesday, April 6th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a GBX 2,750 ($34.35) price objective on shares of Shell in a research note on Tuesday. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of GBX 2,633 ($32.89).

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The company has a debt-to-equity ratio of 50.81, a current ratio of 1.35 and a quick ratio of 0.85. The stock has a fifty day moving average of GBX 2,077.27. The firm has a market cap of £173.05 billion and a P/E ratio of 10.89.

In related news, insider Ben van Beurden sold 190,000 shares of Shell stock in a transaction on Monday, February 7th. The shares were sold at an average price of GBX 2,040 ($25.48), for a total value of £3,876,000 ($4,841,973.77).

About Shell (LON:SHEL)

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 transport oil and gas; produces gas-to-liquid fuels and other products; and operates upstream and midstream infrastructure necessary to deliver gas to market.

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