Modern Wealth Management LLC Acquires 325 Shares of Shell plc (NYSE:SHEL)

Modern Wealth Management LLC increased its stake in shares of Shell plc (NYSE:SHEL) by 5.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,410 shares of the energy company’s stock after purchasing an additional 325 shares during the period. Modern Wealth Management LLC’s holdings in Shell were worth $424,000 as of its most recent filing with the Securities & Exchange Commission.

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

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on SHEL. Piper Sandler lowered their price objective on Shell from $82.00 to $72.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. UBS Group upgraded shares of Shell from a “neutral” rating to a “buy” rating in a research report on Wednesday, January 8th. Wolfe Research upgraded shares of Shell from a “peer perform” rating to an “outperform” rating and set a $80.00 target price on the stock in a research note on Friday, January 3rd. Wells Fargo & Company increased their price target on Shell from $81.00 to $87.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Morgan Stanley raised Shell from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $66.50 to $79.80 in a research note on Tuesday, January 7th. One investment analyst has rated the stock with a hold rating, nine have assigned a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $80.10.

Shell Stock Performance

NYSE SHEL opened at $73.35 on Friday. The stock has a market capitalization of $221.80 billion, a PE ratio of 14.61, a P/E/G ratio of 0.98 and a beta of 0.47. Shell plc has a 1-year low of $60.15 and a 1-year high of $74.61. The business has a 50 day simple moving average of $67.56 and a two-hundred day simple moving average of $66.38. 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 (NYSE:SHEL) last announced its quarterly earnings results on Thursday, January 30th. The energy company reported $1.20 earnings per share 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%. On average, research analysts predict that Shell plc will post 7.67 EPS for the current fiscal year.

Shell Increases Dividend

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

Shell Company 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.