Holderness Investments Co. Purchases New Position in Shell plc (NYSE:SHEL)

Holderness Investments Co. bought a new stake in shares of Shell plc (NYSE:SHEL) in the fourth quarter, HoldingsChannel reports. The institutional investor bought 3,679 shares of the energy company’s stock, valued at approximately $230,000.

Several other hedge funds have also made changes to their positions in SHEL. FMR LLC lifted its holdings 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 raised its stake in shares of Shell by 1.7% during the 4th quarter. Fisher Asset Management LLC now owns 24,938,735 shares of the energy company’s stock worth $1,562,412,000 after acquiring an additional 408,088 shares in the last quarter. Franklin Resources Inc. boosted its stake in Shell by 0.9% in the third quarter. Franklin Resources Inc. now owns 5,972,945 shares of the energy company’s stock valued at $408,430,000 after acquiring an additional 55,637 shares in the last quarter. Holocene Advisors LP grew its holdings in Shell by 29.8% in the third quarter. Holocene Advisors LP now owns 3,773,617 shares of the energy company’s stock worth $248,870,000 after purchasing an additional 866,954 shares during the last quarter. Finally, Rockefeller Capital Management L.P. lifted its holdings in shares of Shell by 1.5% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 3,125,284 shares of the energy company’s stock valued at $206,116,000 after purchasing an additional 46,293 shares during the last quarter. 28.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SHEL has been the topic of several recent analyst reports. Wells Fargo & Company reduced their target price on Shell from $86.00 to $82.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Morgan Stanley raised shares of 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 report on Tuesday, January 7th. Piper Sandler dropped their target price on shares of Shell from $82.00 to $72.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. TD Cowen started coverage on shares of Shell in a research note on Wednesday. They set a “buy” rating and a $81.00 price objective for the company. Finally, TD Securities raised their target price on Shell from $81.00 to $82.00 and gave the stock a “buy” rating in a research note on Wednesday. One research analyst has rated the stock with a hold rating, nine have issued a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Shell presently has an average rating of “Buy” and an average target price of $79.48.

Shell Stock Down 1.2 %

Shares of SHEL opened at $71.08 on Friday. The stock’s 50-day moving average price is $67.05 and its 200-day moving average price is $66.26. 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 company has a market capitalization of $214.91 billion, a price-to-earnings ratio of 14.16, a PEG ratio of 0.98 and a beta of 0.47. Shell plc has a 52 week low of $60.15 and a 52 week high of $74.61.

Shell (NYSE:SHEL) last issued 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, sell-side analysts predict that Shell plc will post 7.67 EPS for the current year.

Shell Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Friday, February 14th will be given a dividend of $0.716 per share. The ex-dividend date is Friday, February 14th. This is a boost from Shell’s previous quarterly dividend of $0.69. This represents a $2.86 dividend on an annualized basis and a dividend yield of 4.03%. Shell’s dividend payout ratio (DPR) is 56.97%.

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.