Bridge Creek Capital Management LLC Raises Stock Position in Shell plc (NYSE:SHEL)

Bridge Creek Capital Management LLC grew its holdings in shares of Shell plc (NYSE:SHELFree Report) by 0.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 55,243 shares of the energy company’s stock after buying an additional 255 shares during the quarter. Bridge Creek Capital Management LLC’s holdings in Shell were worth $3,703,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Invesco Ltd. lifted its holdings in shares of Shell by 162.9% in the 3rd quarter. Invesco Ltd. now owns 1,763,562 shares of the energy company’s stock worth $113,538,000 after acquiring an additional 1,092,670 shares during the last quarter. Mawer Investment Management Ltd. boosted its position in shares of Shell by 19.9% during the fourth quarter. Mawer Investment Management Ltd. now owns 5,325,276 shares of the energy company’s stock valued at $350,403,000 after buying an additional 885,069 shares during the period. Wellington Management Group LLP grew its stake in shares of Shell by 10.7% during the third quarter. Wellington Management Group LLP now owns 8,742,878 shares of the energy company’s stock valued at $562,866,000 after buying an additional 848,104 shares during the last quarter. L1 Capital Pty Ltd lifted its stake in shares of Shell by 188.7% during the 3rd quarter. L1 Capital Pty Ltd now owns 1,224,617 shares of the energy company’s stock worth $78,841,000 after acquiring an additional 800,365 shares during the last quarter. Finally, CIBC Private Wealth Group LLC boosted its holdings in Shell by 130.7% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,400,186 shares of the energy company’s stock valued at $92,132,000 after acquiring an additional 793,136 shares during the period. Hedge funds and other institutional investors own 28.60% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on SHEL shares. TD Securities boosted their price objective on shares of Shell from $74.00 to $81.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. Wells Fargo & Company dropped their price objective on Shell from $91.00 to $90.00 and set an “overweight” rating on the stock in a research note on Friday. Finally, Argus lifted their target price on Shell from $77.00 to $79.00 and gave the company a “buy” rating in a research report on Thursday, June 6th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Shell has an average rating of “Moderate Buy” and an average price target of $69.25.

Read Our Latest Analysis on Shell

Shell Stock Performance

Shell stock traded down $0.09 during trading hours on Friday, hitting $69.94. 3,306,907 shares of the stock traded hands, compared to its average volume of 3,116,063. The stock has a market capitalization of $222.39 billion, a price-to-earnings ratio of 12.90, a P/E/G ratio of 1.80 and a beta of 0.60. Shell plc has a 1 year low of $58.14 and a 1 year high of $74.61. The firm’s 50 day moving average price is $71.51 and its 200-day moving average price is $67.29. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.42 and a quick ratio of 1.14.

Shell (NYSE:SHELGet Free Report) last issued its quarterly earnings results on Thursday, May 2nd. The energy company reported $2.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.87 by $0.51. The company had revenue of $74.70 billion for the quarter, compared to the consensus estimate of $88.03 billion. Shell had a return on equity of 13.83% and a net margin of 5.83%. As a group, equities analysts expect that Shell plc will post 8.37 EPS for the current fiscal year.

Shell Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 24th. Investors of record on Friday, May 17th will be given a dividend of $0.688 per share. The ex-dividend date of this dividend is Thursday, May 16th. This is a positive change from Shell’s previous quarterly dividend of $0.66. This represents a $2.75 dividend on an annualized basis and a yield of 3.93%. Shell’s payout ratio is presently 50.74%.

Shell Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Shell (NYSE:SHEL)

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