Shell plc (NYSE:SHEL) Raises Dividend to $0.69 Per Share

Shell plc (NYSE:SHELGet Free Report) announced a quarterly dividend on Thursday, May 2nd, Zacks reports. Shareholders of record on Friday, May 17th will be paid a dividend of 0.688 per share by the energy company on Monday, June 24th. This represents a $2.75 annualized dividend and a dividend yield of 3.78%. The ex-dividend date is Thursday, May 16th. This is a boost from Shell’s previous quarterly dividend of $0.66.

Shell has a payout ratio of 33.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Shell to earn $8.75 per share next year, which means the company should continue to be able to cover its $2.75 annual dividend with an expected future payout ratio of 31.4%.

Shell Stock Down 1.8 %

SHEL stock traded down $1.31 during mid-day trading on Wednesday, hitting $72.75. 853,182 shares of the company were exchanged, compared to its average volume of 4,596,333. The firm has a market cap of $232.46 billion, a P/E ratio of 13.46, a P/E/G ratio of 1.90 and a beta of 0.59. Shell has a 1-year low of $55.78 and a 1-year high of $74.61. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.14 and a current ratio of 1.42. The firm’s 50 day simple moving average is $69.89 and its 200 day simple moving average is $66.34.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on SHEL shares. TheStreet upgraded Shell from a “c” rating to a “b-” rating in a research note on Monday, January 29th. TD Securities raised their target price on shares of Shell from $74.00 to $81.00 and gave the company a “buy” rating in a research note on Friday, May 3rd. Finally, Wells Fargo & Company boosted their price target on Shell from $88.00 to $91.00 and gave the stock an “overweight” rating in a research report on Friday, May 3rd. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $66.50.

Check Out Our Latest Stock Report on Shell

Shell Company Profile

(Get Free Report)

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.

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Dividend History for Shell (NYSE:SHEL)

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