Shell plc (NYSE:SHEL) Shares Acquired by Summit Securities Group LLC

Summit Securities Group LLC boosted its stake in shares of Shell plc (NYSE:SHEL) by 50.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 600 shares of the energy company’s stock after purchasing an additional 200 shares during the period. Summit Securities Group LLC’s holdings in Shell were worth $38,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in SHEL. Valley National Advisers Inc. grew its position in Shell by 930.2% during the fourth quarter. Valley National Advisers Inc. now owns 443 shares of the energy company’s stock valued at $27,000 after acquiring an additional 400 shares during the period. CoreFirst Bank & Trust acquired a new position in shares of Shell in the 4th quarter valued at about $28,000. Human Investing LLC acquired a new stake in Shell during the 4th quarter worth approximately $31,000. Millstone Evans Group LLC purchased a new position in Shell in the fourth quarter valued at approximately $36,000. Finally, Sierra Ocean LLC purchased a new stake in Shell during the fourth quarter worth approximately $39,000. 28.60% of the stock is owned by hedge funds and other institutional investors.

Shell Price Performance

Shares of SHEL stock opened at $72.74 on Monday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.35 and a quick ratio of 1.10. Shell plc has a 1-year low of $60.15 and a 1-year high of $74.61. The firm has a fifty day moving average of $67.68 and a two-hundred day moving average of $66.42. The firm has a market cap of $219.95 billion, a P/E ratio of 14.49, a P/E/G ratio of 0.98 and a beta of 0.47.

Shell (NYSE:SHEL) last announced its quarterly earnings data on Thursday, January 30th. The energy company reported $1.20 earnings per share (EPS) for the quarter, missing the consensus estimate 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, research analysts anticipate that Shell plc will post 7.67 earnings per share for the current fiscal year.

Shell Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Friday, February 14th were issued a dividend of $0.716 per share. This represents a $2.86 dividend on an annualized basis and a dividend yield of 3.94%. This is a boost from Shell’s previous quarterly dividend of $0.69. The ex-dividend date of this dividend was Friday, February 14th. Shell’s dividend payout ratio is 56.97%.

Wall Street Analysts Forecast Growth

SHEL has been the topic of several recent research reports. UBS Group upgraded shares of Shell from a “neutral” rating to a “buy” rating in a report on Wednesday, January 8th. Morgan Stanley upgraded Shell from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $66.50 to $79.80 in a research note on Tuesday, January 7th. Piper Sandler reduced their price target on Shell from $82.00 to $72.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Royal Bank of Canada reiterated an “outperform” rating on shares of Shell in a research note on Wednesday. Finally, Wolfe Research upgraded shares of Shell from a “peer perform” rating to an “outperform” rating and set a $80.00 target price for the company in a research note on Friday, January 3rd. One research analyst has rated the stock with a hold rating, ten have given a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Shell currently has a consensus rating of “Buy” and an average price target of $80.10.

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.