Shell plc (NYSE:SHEL) Shares Purchased by CIBC Asset Management Inc

CIBC Asset Management Inc grew its position in shares of Shell plc (NYSE:SHEL) by 2.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 39,666 shares of the energy company’s stock after acquiring an additional 772 shares during the period. CIBC Asset Management Inc’s holdings in Shell were worth $2,485,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. FMR LLC grew its stake in Shell by 5.2% during the third quarter. FMR LLC now owns 65,298,943 shares of the energy company’s stock worth $4,306,465,000 after buying an additional 3,255,347 shares during the period. Fisher Asset Management LLC increased its holdings in Shell by 2.1% in the 3rd quarter. Fisher Asset Management LLC now owns 24,530,647 shares of the energy company’s stock valued at $1,617,796,000 after purchasing an additional 507,311 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of Shell by 0.9% in the third quarter. Franklin Resources Inc. now owns 5,972,945 shares of the energy company’s stock worth $408,430,000 after buying an additional 55,637 shares during the period. Mawer Investment Management Ltd. boosted its stake in shares of Shell by 8.7% in the third quarter. Mawer Investment Management Ltd. now owns 5,282,868 shares of the energy company’s stock valued at $348,405,000 after purchasing an additional 422,329 shares during the period. Finally, Holocene Advisors LP grew its stake in shares of Shell by 29.8% during the third quarter. Holocene Advisors LP now owns 3,773,617 shares of the energy company’s stock valued at $248,870,000 after acquiring an additional 866,954 shares in the last quarter. Hedge funds and other institutional investors own 28.60% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Wolfe Research upgraded Shell from a “peer perform” rating to an “outperform” rating and set a $80.00 price objective on the stock in a report on Friday, January 3rd. 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 research note on Tuesday, January 7th. Piper Sandler reduced their price objective on shares of Shell from $82.00 to $72.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. UBS Group upgraded shares of Shell from a “neutral” rating to a “buy” rating in a research note on Wednesday, January 8th. Finally, Wells Fargo & Company decreased their price target on Shell from $86.00 to $82.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, Shell currently has a consensus rating of “Buy” and a consensus target price of $79.11.

Shell Stock Performance

Shares of SHEL stock opened at $66.67 on Friday. The company has a market cap of $202.75 billion, a P/E ratio of 13.28, a PEG ratio of 0.97 and a beta of 0.54. The business has a 50 day moving average of $64.89 and a two-hundred day moving average of $66.81. Shell plc has a 52 week low of $60.15 and a 52 week high of $74.61. The company has a quick ratio of 1.10, a current ratio of 1.35 and a debt-to-equity ratio of 0.36.

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

Shell Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Friday, February 14th will be given a $0.716 dividend. The ex-dividend date of this dividend is Friday, February 14th. This is an increase from Shell’s previous quarterly dividend of $0.69. This represents a $2.86 annualized dividend and a yield of 4.30%. Shell’s dividend payout ratio (DPR) is currently 56.97%.

Shell 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.