Summitry LLC Grows Stock Holdings in Shell plc (NYSE:SHEL)

Summitry LLC grew its stake in shares of Shell plc (NYSE:SHEL) by 16.6% in the fourth quarter, Holdings Channel.com reports. The fund owned 8,264 shares of the energy company’s stock after purchasing an additional 1,179 shares during the period. Summitry LLC’s holdings in Shell were worth $518,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of SHEL. Valley National Advisers Inc. raised its holdings in Shell by 930.2% during the fourth quarter. Valley National Advisers Inc. now owns 443 shares of the energy company’s stock worth $27,000 after purchasing an additional 400 shares during the last quarter. CoreFirst Bank & Trust acquired a new position in shares of Shell during the 4th quarter worth $28,000. Human Investing LLC acquired a new stake in Shell in the 4th quarter valued at about $31,000. Brooklyn Investment Group purchased a new position in Shell during the 3rd quarter valued at about $35,000. Finally, Millstone Evans Group LLC purchased a new stake in shares of Shell in the fourth quarter valued at about $36,000. Hedge funds and other institutional investors own 28.60% of the company’s stock.

Shell Stock Up 1.1 %

Shares of NYSE SHEL opened at $72.04 on Wednesday. The company has a quick ratio of 1.10, a current ratio of 1.35 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $217.83 billion, a PE ratio of 14.35, a P/E/G ratio of 0.98 and a beta of 0.47. The firm has a fifty day moving average of $67.29 and a 200-day moving average of $66.28. Shell plc has a 52-week low of $60.15 and a 52-week high of $74.61.

Shell (NYSE:SHEL) last released its quarterly earnings data on Thursday, January 30th. The energy company reported $1.20 EPS for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.54). Shell had a return on equity of 12.75% and a net margin of 5.57%. On average, analysts anticipate that Shell plc will post 7.67 EPS for the current year.

Shell Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Friday, February 14th were paid a $0.716 dividend. This represents a $2.86 dividend on an annualized basis and a dividend yield of 3.98%. The ex-dividend date of this dividend was Friday, February 14th. This is an increase from Shell’s previous quarterly dividend of $0.69. Shell’s dividend payout ratio (DPR) is currently 56.97%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. TD Cowen began coverage on Shell in a research report on Wednesday, March 19th. They set a “buy” rating and a $81.00 price objective for the company. Piper Sandler reduced their price objective on Shell from $82.00 to $72.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. UBS Group raised shares of Shell from a “neutral” rating to a “buy” rating in a research note on Wednesday, January 8th. Morgan Stanley upgraded shares of Shell from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $66.50 to $79.80 in a report on Tuesday, January 7th. Finally, TD Securities raised their target price on shares of Shell from $81.00 to $82.00 and gave the stock a “buy” rating in a research report on Wednesday, March 19th. One research analyst has rated the stock with a hold rating, nine have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $79.48.

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.