SVB Wealth LLC Takes Position in Shell plc (NYSE:SHEL)

SVB Wealth LLC bought a new position in Shell plc (NYSE:SHEL) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 11,968 shares of the energy company’s stock, valued at approximately $750,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of SHEL. FMR LLC raised its stake in shares of Shell by 5.2% in the third quarter. FMR LLC now owns 65,298,943 shares of the energy company’s stock worth $4,306,465,000 after purchasing an additional 3,255,347 shares during the last quarter. Jennison Associates LLC grew its holdings in Shell by 188.0% during the third quarter. Jennison Associates LLC now owns 3,014,199 shares of the energy company’s stock worth $198,786,000 after buying an additional 1,967,672 shares in the last quarter. Holocene Advisors LP lifted its stake in Shell by 29.8% during the 3rd quarter. Holocene Advisors LP now owns 3,773,617 shares of the energy company’s stock valued at $248,870,000 after acquiring an additional 866,954 shares in the last quarter. Fisher Asset Management LLC boosted its holdings in Shell by 2.1% during the 3rd quarter. Fisher Asset Management LLC now owns 24,530,647 shares of the energy company’s stock worth $1,617,796,000 after acquiring an additional 507,311 shares during the last quarter. Finally, Merewether Investment Management LP grew its stake in shares of Shell by 41.0% in the 3rd quarter. Merewether Investment Management LP now owns 1,544,764 shares of the energy company’s stock worth $101,877,000 after acquiring an additional 449,000 shares in the last quarter. Institutional investors own 28.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on SHEL shares. Wolfe Research upgraded shares of Shell from a “peer perform” rating to an “outperform” rating and set a $80.00 price target on the stock in a report on Friday, January 3rd. UBS Group upgraded Shell from a “neutral” rating to a “buy” rating in a research note on Wednesday, January 8th. Morgan Stanley raised Shell from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $66.50 to $79.80 in a research report on Tuesday, January 7th. Wells Fargo & Company reduced their price objective on Shell from $86.00 to $82.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Finally, Piper Sandler lowered their target price on Shell from $82.00 to $72.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, Shell has an average rating of “Buy” and an average target price of $79.11.

Shell Stock Down 1.4 %

Shares of NYSE SHEL opened at $66.49 on Tuesday. The business’s fifty day moving average price is $65.49 and its 200-day moving average price is $66.59. Shell plc has a one year low of $60.15 and a one year high of $74.61. The stock has a market capitalization of $202.22 billion, a PE ratio of 13.25, a P/E/G ratio of 0.98 and a beta of 0.54. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.35 and a quick ratio of 1.10.

Shell (NYSE:SHEL) last issued its earnings results on Thursday, January 30th. The energy company reported $1.20 earnings per share for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.54). Shell had a return on equity of 12.75% and a net margin of 5.57%. On average, equities research analysts anticipate that Shell plc will post 7.67 EPS for the current year.

Shell Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Friday, February 14th will be given a dividend of $0.716 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.86 annualized dividend and a dividend yield of 4.31%. This is an increase from Shell’s previous quarterly dividend of $0.69. Shell’s dividend payout ratio is currently 56.97%.

About Shell

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.