Perigon Wealth Management LLC Boosts Stock Position in Shell plc (NYSE:SHEL)

Perigon Wealth Management LLC grew its stake in Shell plc (NYSE:SHEL) by 0.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 30,839 shares of the energy company’s stock after purchasing an additional 196 shares during the period. Perigon Wealth Management LLC’s holdings in Shell were worth $2,049,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the stock. Fortitude Family Office LLC acquired a new position in Shell during the third quarter worth $30,000. Valley Wealth Managers Inc. acquired a new position in Shell during the third quarter worth $33,000. Brooklyn Investment Group acquired a new position in Shell during the third quarter worth $35,000. GHP Investment Advisors Inc. lifted its stake in Shell by 40.8% during the third quarter. GHP Investment Advisors Inc. now owns 563 shares of the energy company’s stock worth $37,000 after purchasing an additional 163 shares in the last quarter. Finally, Rakuten Securities Inc. lifted its stake in Shell by 567.0% during the third quarter. Rakuten Securities Inc. now owns 627 shares of the energy company’s stock worth $41,000 after purchasing an additional 533 shares in the last quarter. 28.60% of the stock is currently owned by hedge funds and other institutional investors.

Shell Stock Performance

Shares of SHEL stock opened at $64.68 on Thursday. The stock’s 50-day moving average is $64.17 and its two-hundred day moving average is $67.42. The firm has a market cap of $197.76 billion, a price-to-earnings ratio of 13.31, a PEG ratio of 5.89 and a beta of 0.55. Shell plc has a 1 year low of $60.15 and a 1 year high of $74.61. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.13 and a current ratio of 1.40.

Shell (NYSE:SHEL) last issued its quarterly earnings data on Thursday, October 31st. The energy company reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.20. The company had revenue of $72.46 billion for the quarter, compared to analyst estimates of $84.58 billion. Shell had a return on equity of 14.54% and a net margin of 5.17%. During the same quarter last year, the company posted $1.86 earnings per share. Analysts predict that Shell plc will post 8.16 earnings per share for the current year.

Shell Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Friday, November 15th were issued a dividend of $0.688 per share. This represents a $2.75 annualized dividend and a dividend yield of 4.25%. The ex-dividend date was Friday, November 15th. Shell’s payout ratio is 56.58%.

Analyst Ratings Changes

Several analysts have recently issued reports on SHEL shares. Morgan Stanley upgraded Shell from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $66.50 to $79.80 in a research note on Tuesday, January 7th. 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 research note on Friday, January 3rd. Sanford C. Bernstein upgraded Shell to a “strong-buy” rating in a research note on Friday, October 11th. Scotiabank reduced their price objective on Shell from $90.00 to $80.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Finally, Wells Fargo & Company reduced their price objective on Shell from $87.00 to $86.00 and set an “overweight” rating on the stock in a research note on Friday, January 10th. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $79.69.

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.