Wedmont Private Capital boosted its position in Shell plc (NYSE:SHEL – Free Report) by 3.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,296 shares of the energy company’s stock after purchasing an additional 376 shares during the period. Wedmont Private Capital’s holdings in Shell were worth $828,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also added to or reduced their stakes in the company. FMR LLC raised its holdings in shares of Shell by 32.3% in the fourth quarter. FMR LLC now owns 86,417,177 shares of the energy company’s stock valued at $5,414,036,000 after acquiring an additional 21,118,234 shares in the last quarter. Voloridge Investment Management LLC raised its holdings in shares of 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 purchasing an additional 2,182,253 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Shell during the fourth quarter valued at approximately $91,716,000. Freestone Grove Partners LP purchased a new position in Shell during the fourth quarter valued at approximately $83,204,000. Finally, Merewether Investment Management LP lifted its holdings in Shell by 46.5% during the fourth quarter. Merewether Investment Management LP now owns 2,262,997 shares of the energy company’s stock worth $141,777,000 after buying an additional 718,233 shares during the period. Institutional investors own 28.60% of the company’s stock.
Shell Stock Performance
Shares of SHEL stock opened at $68.26 on Tuesday. The business’s fifty day simple moving average is $65.37 and its 200-day simple moving average is $65.89. The company has a market cap of $204.03 billion, a PE ratio of 13.60, a PEG ratio of 0.98 and a beta of 0.39. The company has a current ratio of 1.35, a quick ratio of 1.10 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.
Shell declared that its board has initiated a stock repurchase plan on Friday, May 2nd that permits the company to repurchase $3.50 billion in outstanding shares. This repurchase authorization permits the energy company to purchase up to 1.8% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.
Shell Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, June 23rd. Investors of record on Friday, May 16th will be given a $0.716 dividend. This represents a $2.86 annualized dividend and a dividend yield of 4.20%. The ex-dividend date of this dividend is Friday, May 16th. Shell’s payout ratio is 65.90%.
Analyst Upgrades and Downgrades
SHEL has been the topic of a number of analyst reports. TD Securities reiterated a “buy” rating on shares of Shell in a report on Friday, April 4th. Royal Bank of Canada reiterated an “outperform” rating on shares of Shell in a report on Wednesday, March 26th. Barclays restated an “overweight” rating on shares of Shell in a report on Wednesday, March 26th. Hsbc Global Res upgraded shares of Shell to a “strong-buy” rating in a research note on Tuesday, May 13th. Finally, Piper Sandler raised their target price on shares of Shell from $72.00 to $80.00 and gave the company an “overweight” 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 assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $78.26.
Check Out Our Latest Analysis on SHEL
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.
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