Silvercrest Asset Management Group LLC Boosts Stake in Shell plc (NYSE:SHEL)

Silvercrest Asset Management Group LLC lifted its position in Shell plc (NYSE:SHEL) by 2.8% in the fourth quarter, HoldingsChannel reports. The firm owned 1,381,277 shares of the energy company’s stock after buying an additional 37,160 shares during the period. Silvercrest Asset Management Group LLC’s holdings in Shell were worth $86,537,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC boosted its position in Shell by 51.7% in the 4th quarter. Brighton Jones LLC now owns 7,463 shares of the energy company’s stock valued at $468,000 after buying an additional 2,545 shares during the period. Private Advisor Group LLC boosted its holdings in shares of Shell by 0.9% in the fourth quarter. Private Advisor Group LLC now owns 33,168 shares of the energy company’s stock valued at $2,078,000 after acquiring an additional 301 shares in the last quarter. Barclays PLC boosted its stake in shares of Shell by 136.2% during the 4th quarter. Barclays PLC now owns 7,824 shares of the energy company’s stock worth $490,000 after purchasing an additional 4,512 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Shell by 8.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 199,856 shares of the energy company’s stock worth $12,521,000 after acquiring an additional 14,937 shares during the period. Finally, HF Advisory Group LLC grew its position in Shell by 15.8% during the fourth quarter. HF Advisory Group LLC now owns 29,560 shares of the energy company’s stock valued at $1,852,000 after acquiring an additional 4,028 shares during the period. Hedge funds and other institutional investors own 28.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. TD Cowen reduced their price target on Shell from $82.00 to $76.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. Piper Sandler lifted their target price on Shell from $72.00 to $80.00 and gave the company an “overweight” rating in a research note on Tuesday. Scotiabank lowered their price target on Shell from $75.00 to $70.00 and set a “sector outperform” rating on the stock in a research report on Friday, April 11th. Barclays restated an “overweight” rating on shares of Shell in a report on Wednesday, March 26th. Finally, Royal Bank of Canada reiterated an “outperform” rating on shares of Shell in a report on Wednesday, March 26th. One investment analyst has rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $78.35.

Shell Stock Performance

Shares of SHEL stock opened at $67.39 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.35 and a quick ratio of 1.10. The stock has a market capitalization of $202.71 billion, a PE ratio of 13.42, a PEG ratio of 0.98 and a beta of 0.38. The business’s 50 day simple moving average is $66.80 and its 200 day simple moving average is $65.87. Shell plc has a one year low of $58.55 and a one year high of $74.46.

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

Shell announced that its board has initiated a share buyback program on Friday, May 2nd that permits the company to repurchase $3.50 billion in shares. This repurchase authorization permits the energy company to purchase up to 1.8% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Shell Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 23rd. Stockholders of record on Friday, May 16th will be given a dividend of $0.716 per share. This represents a $2.86 annualized dividend and a dividend yield of 4.25%. The ex-dividend date of this dividend is Friday, May 16th. Shell’s dividend payout ratio is presently 65.90%.

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.