Congress Wealth Management LLC DE Has $854,000 Stock Holdings in Shell plc (NYSE:SHEL)

Congress Wealth Management LLC DE lessened its holdings in Shell plc (NYSE:SHEL) by 4.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,633 shares of the energy company’s stock after selling 673 shares during the quarter. Congress Wealth Management LLC DE’s holdings in Shell were worth $854,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Foster Group Inc. raised its stake in shares of Shell by 5.0% during the fourth quarter. Foster Group Inc. now owns 3,393 shares of the energy company’s stock valued at $213,000 after acquiring an additional 162 shares during the last quarter. Warther Private Wealth LLC raised its position in Shell by 5.5% during the 4th quarter. Warther Private Wealth LLC now owns 3,268 shares of the energy company’s stock worth $205,000 after purchasing an additional 169 shares during the last quarter. Klingman & Associates LLC lifted its holdings in Shell by 5.2% during the 4th quarter. Klingman & Associates LLC now owns 3,421 shares of the energy company’s stock worth $214,000 after buying an additional 170 shares during the period. RHS Financial LLC increased its stake in shares of Shell by 3.1% in the fourth quarter. RHS Financial LLC now owns 5,667 shares of the energy company’s stock valued at $355,000 after buying an additional 173 shares during the period. Finally, Doliver Advisors LP raised its position in shares of Shell by 5.2% during the fourth quarter. Doliver Advisors LP now owns 3,632 shares of the energy company’s stock worth $228,000 after acquiring an additional 180 shares during the last quarter. 28.60% of the stock is currently owned by institutional investors and hedge funds.

Shell Stock Performance

NYSE SHEL opened at $73.35 on Friday. The company has a current ratio of 1.35, a quick ratio of 1.10 and a debt-to-equity ratio of 0.36. The company has a fifty day simple moving average of $67.56 and a 200 day simple moving average of $66.38. Shell plc has a 12-month low of $60.15 and a 12-month high of $74.61. The company has a market cap of $221.80 billion, a P/E ratio of 14.61, a PEG ratio of 0.98 and a beta of 0.47.

Shell (NYSE:SHEL) last posted its earnings results on Thursday, January 30th. The energy company reported $1.20 EPS for the quarter, missing the consensus estimate of $1.74 by ($0.54). Shell had a return on equity of 12.75% and a net margin of 5.57%. Sell-side analysts predict that Shell plc will post 7.67 earnings per share for the current fiscal year.

Shell Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Friday, February 14th were given a $0.716 dividend. This is a positive change from Shell’s previous quarterly dividend of $0.69. This represents a $2.86 dividend on an annualized basis and a yield of 3.90%. The ex-dividend date was Friday, February 14th. Shell’s dividend payout ratio is presently 56.97%.

Analysts Set New Price Targets

Several research firms have recently weighed in on SHEL. Piper Sandler decreased their price objective on shares of Shell from $82.00 to $72.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. TD Securities increased their price target on Shell from $81.00 to $82.00 and gave the stock a “buy” rating in a report on Wednesday, March 19th. Morgan Stanley raised Shell from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $66.50 to $79.80 in a research note on Tuesday, January 7th. Wells Fargo & Company lifted their target price on Shell from $81.00 to $87.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, Wolfe Research upgraded Shell from a “peer perform” rating to an “outperform” rating and set a $80.00 price target on the stock in a report on Friday, January 3rd. One equities 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. According to data from MarketBeat.com, the stock presently 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.