Shell plc (NYSE:SHEL) Shares Purchased by Tompkins Financial Corp

Tompkins Financial Corp boosted its stake in shares of Shell plc (NYSE:SHEL) by 6.5% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 3,439 shares of the energy company’s stock after acquiring an additional 209 shares during the quarter. Tompkins Financial Corp’s holdings in Shell were worth $252,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. FMR LLC increased its holdings in Shell by 32.3% in the 4th quarter. FMR LLC now owns 86,417,177 shares of the energy company’s stock valued at $5,414,036,000 after purchasing an additional 21,118,234 shares during the last quarter. Voloridge Investment Management LLC grew its stake in shares of Shell by 170.3% in the fourth quarter. Voloridge Investment Management LLC now owns 3,463,372 shares of the energy company’s stock valued at $216,980,000 after buying an additional 2,182,253 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Shell in the 4th quarter valued at $91,716,000. Freestone Grove Partners LP acquired a new position in Shell during the 4th quarter worth about $83,204,000. Finally, Merewether Investment Management LP grew its position in Shell by 46.5% in the 4th quarter. Merewether Investment Management LP now owns 2,262,997 shares of the energy company’s stock valued at $141,777,000 after acquiring an additional 718,233 shares in the last quarter. 28.60% of the stock is currently owned by institutional investors and hedge funds.

Shell Stock Performance

NYSE:SHEL opened at $66.45 on Friday. The firm has a market capitalization of $198.62 billion, a PE ratio of 13.24, a price-to-earnings-growth ratio of 0.98 and a beta of 0.38. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.35 and a quick ratio of 1.10. The business’s fifty day moving average price is $66.12 and its 200 day moving average price is $65.81. Shell plc has a 12 month low of $58.55 and a 12 month high of $74.46.

Shell (NYSE:SHEL) last issued its earnings results on Friday, May 2nd. The energy company reported $1.84 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.30. The business had revenue of $69.23 billion for the quarter, compared to analyst estimates 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 company earned $2.40 EPS. On average, sell-side analysts anticipate that Shell plc will post 7.67 earnings per share for the current fiscal year.

Shell announced that its board has approved a share buyback program on Friday, May 2nd that permits the company to buyback $3.50 billion in outstanding shares. This buyback authorization permits the energy company to reacquire up to 1.8% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Shell Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 23rd. Investors of record on Friday, May 16th will be given a $0.716 dividend. The ex-dividend date is Friday, May 16th. This represents a $2.86 dividend on an annualized basis and a yield of 4.31%. Shell’s dividend payout ratio (DPR) is presently 65.90%.

Analysts Set New Price Targets

Several analysts have recently issued reports on SHEL shares. Hsbc Global Res raised shares of Shell to a “strong-buy” rating in a research report on Tuesday, May 13th. TD Cowen reduced their target price on shares of Shell from $82.00 to $76.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. Barclays restated an “overweight” rating on shares of Shell in a research note on Wednesday, March 26th. Wells Fargo & Company decreased their target price on Shell from $83.00 to $80.00 and set an “overweight” rating for the company in a report on Monday, May 5th. Finally, Piper Sandler upped their price target on Shell from $72.00 to $80.00 and gave the stock an “overweight” rating in a report on Tuesday, May 13th. One investment analyst has rated the stock with a hold rating, eleven have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $78.35.

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.