Shell plc (NYSE:SHEL) Stake Trimmed by Octavia Wealth Advisors LLC

Octavia Wealth Advisors LLC trimmed its position in Shell plc (NYSE:SHEL) by 10.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,169 shares of the energy company’s stock after selling 3,290 shares during the quarter. Octavia Wealth Advisors LLC’s holdings in Shell were worth $2,064,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. Farther Finance Advisors LLC raised its position in Shell by 44.0% during the first quarter. Farther Finance Advisors LLC now owns 9,719 shares of the energy company’s stock valued at $710,000 after buying an additional 2,970 shares during the period. CHICAGO TRUST Co NA increased its holdings in shares of Shell by 2.4% in the 1st quarter. CHICAGO TRUST Co NA now owns 42,044 shares of the energy company’s stock valued at $3,081,000 after purchasing an additional 975 shares during the period. Range Financial Group LLC purchased a new stake in shares of Shell in the first quarter worth approximately $1,785,000. Portside Wealth Group LLC grew its position in Shell by 29.9% during the first quarter. Portside Wealth Group LLC now owns 35,360 shares of the energy company’s stock valued at $2,591,000 after purchasing an additional 8,130 shares in the last quarter. Finally, Abacus Planning Group Inc. increased its stake in Shell by 4.7% in the 1st quarter. Abacus Planning Group Inc. now owns 5,263 shares of the energy company’s stock valued at $386,000 after buying an additional 235 shares during the period. 28.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on SHEL. Wells Fargo & Company dropped their price target on shares of Shell from $83.00 to $80.00 and set an “overweight” rating on the stock in a research note on Monday, May 5th. Barclays reaffirmed an “overweight” rating on shares of Shell in a research report on Wednesday, March 26th. Scotiabank reduced their price target on Shell from $75.00 to $70.00 and set a “sector outperform” rating for the company in a report on Friday, April 11th. Royal Bank of Canada restated an “outperform” rating on shares of Shell in a report on Wednesday, March 26th. Finally, Piper Sandler lifted their target price on shares of Shell from $72.00 to $80.00 and gave the company an “overweight” rating in a research note on Tuesday, May 13th. One investment analyst has rated the stock with a hold rating, ten have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $78.26.

Shell Trading Up 0.7%

Shares of SHEL stock opened at $68.03 on Monday. Shell plc has a 12 month low of $58.55 and a 12 month high of $74.46. The company has a market cap of $203.33 billion, a PE ratio of 13.55, a price-to-earnings-growth ratio of 0.98 and a beta of 0.39. The company has a quick ratio of 1.10, a current ratio of 1.35 and a debt-to-equity ratio of 0.36. The business’s 50 day moving average is $65.46 and its two-hundred day moving average is $65.87.

Shell (NYSE:SHEL) last posted its earnings results on Friday, May 2nd. The energy company reported $1.84 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $79.18 billion. During the same period last year, the business posted $2.40 EPS. Equities analysts predict that Shell plc will post 7.67 EPS for the current year.

Shell Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 23rd. Stockholders 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 annualized dividend and a dividend yield of 4.21%. Shell’s dividend payout ratio is 65.90%.

Shell declared that its Board of Directors has initiated a share buyback program on Friday, May 2nd that authorizes the company to buyback $3.50 billion in outstanding shares. This buyback authorization authorizes the energy company to buy up to 1.8% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its stock is undervalued.

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.