Simplicity Wealth LLC Purchases 4,630 Shares of Shell plc (NYSE:SHEL)

Simplicity Wealth LLC boosted its position in shares of Shell plc (NYSE:SHEL) by 90.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 9,745 shares of the energy company’s stock after purchasing an additional 4,630 shares during the quarter. Simplicity Wealth LLC’s holdings in Shell were worth $714,000 as of its most recent filing with the Securities and Exchange Commission.

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

Shell Trading Up 1.3%

Shares of Shell stock opened at $70.97 on Thursday. Shell plc has a 12-month low of $58.55 and a 12-month high of $74.46. The stock has a market cap of $212.10 billion, a P/E ratio of 14.14, a P/E/G 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 $65.51 and its 200-day moving average is $65.95.

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

Shell announced that its board has authorized a share repurchase plan on Friday, May 2nd that allows the company to repurchase $3.50 billion in outstanding shares. This repurchase authorization allows the energy company to buy up to 1.8% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.

Shell Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 23rd. Investors of record on Friday, May 16th will be paid a $0.716 dividend. This represents a $2.86 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date of this dividend is Friday, May 16th. Shell’s dividend payout ratio (DPR) is presently 65.90%.

Analyst Upgrades and Downgrades

SHEL has been the subject of several analyst reports. Piper Sandler boosted their target price on Shell from $72.00 to $80.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 13th. Scotiabank decreased their price objective on Shell from $75.00 to $70.00 and set a “sector outperform” rating for the company in a research report on Friday, April 11th. Wells Fargo & Company decreased their price objective on Shell from $83.00 to $80.00 and set an “overweight” rating for the company in a research report on Monday, May 5th. TD Securities reiterated a “buy” rating on shares of Shell in a research report on Friday, April 4th. Finally, Barclays reiterated an “overweight” rating on shares of Shell in a research report on Wednesday, March 26th. One 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 stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $78.26.

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.