30,407 Shares in Shell plc (NYSE:SHEL) Purchased by Cornerstone Select Advisors LLC

Cornerstone Select Advisors LLC purchased a new stake in Shell plc (NYSE:SHEL) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 30,407 shares of the energy company’s stock, valued at approximately $1,905,000. Shell accounts for about 1.8% of Cornerstone Select Advisors LLC’s investment portfolio, making the stock its 11th largest holding.

A number of other institutional investors also recently modified their holdings of SHEL. First Wilshire Securities Management Inc. boosted its holdings in Shell by 1.6% in the 4th quarter. First Wilshire Securities Management Inc. now owns 9,518 shares of the energy company’s stock valued at $596,000 after purchasing an additional 153 shares during the period. Foster Group Inc. increased its stake in Shell by 5.0% in the 4th quarter. Foster Group Inc. now owns 3,393 shares of the energy company’s stock worth $213,000 after acquiring an additional 162 shares during the last quarter. Titleist Asset Management LLC raised its holdings in shares of Shell by 3.1% in the 4th quarter. Titleist Asset Management LLC now owns 5,526 shares of the energy company’s stock valued at $346,000 after acquiring an additional 164 shares in the last quarter. Warther Private Wealth LLC increased its position in shares of 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 purchasing an additional 169 shares during the last quarter. Finally, Klingman & Associates LLC lifted its position in Shell by 5.2% during the fourth quarter. Klingman & Associates LLC now owns 3,421 shares of the energy company’s stock valued at $214,000 after purchasing an additional 170 shares during the last quarter. 28.60% of the stock is currently owned by hedge funds and other institutional investors.

Shell Trading Up 0.1 %

Shell stock opened at $65.17 on Wednesday. Shell plc has a 12 month low of $58.55 and a 12 month high of $74.61. 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 business’s fifty day simple moving average is $66.82 and its two-hundred day simple moving average is $65.87. The company has a market capitalization of $196.05 billion, a price-to-earnings ratio of 12.98, a price-to-earnings-growth ratio of 0.98 and a beta of 0.38.

Shell (NYSE:SHEL) last released its quarterly earnings data on Friday, May 2nd. The energy company reported $1.84 earnings per share for the quarter, beating analysts’ consensus estimates of $1.54 by $0.30. Shell had a net margin of 5.57% and a return on equity of 12.75%. The business had revenue of $69.23 billion during the quarter, compared to analyst estimates of $79.18 billion. During the same period last year, the business earned $2.40 EPS. As a group, equities analysts predict that Shell plc will post 7.67 earnings per share for the current fiscal year.

Shell Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 23rd. Stockholders of record on Friday, May 16th will be issued a dividend of $0.716 per share. This represents a $2.86 dividend on an annualized basis and a dividend yield of 4.39%. The ex-dividend date of this dividend is Friday, May 16th. Shell’s payout ratio is currently 65.90%.

Shell declared that its Board of Directors has authorized a share buyback program on Friday, May 2nd that allows the company to repurchase $3.50 billion in shares. This repurchase authorization allows the energy company to reacquire up to 1.8% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

SHEL has been the subject of several research reports. Morgan Stanley upgraded shares of Shell from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $66.50 to $79.80 in a research report on Tuesday, January 7th. TD Securities reaffirmed a “buy” rating on shares of Shell in a research note on Friday, April 4th. UBS Group upgraded Shell from a “neutral” rating to a “buy” rating in a report on Wednesday, January 8th. TD Cowen decreased their price target on Shell from $82.00 to $76.00 and set a “buy” rating on the stock in a research note on Tuesday, April 8th. Finally, Wells Fargo & Company cut their target price on shares of Shell from $83.00 to $80.00 and set an “overweight” rating on the stock in a report on Monday. One research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $77.35.

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.