InvesTrust Takes Position in Shell plc (NYSE:SHEL)

InvesTrust bought a new position in Shell plc (NYSE:SHEL) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 79,661 shares of the energy company’s stock, valued at approximately $4,965,000.

A number of other hedge funds have also added to or reduced their stakes in SHEL. Coronation Fund Managers Ltd. boosted its position in Shell by 7.6% in the second quarter. Coronation Fund Managers Ltd. now owns 15,201 shares of the energy company’s stock worth $1,097,000 after purchasing an additional 1,068 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Shell in the second quarter valued at approximately $49,000. Rhumbline Advisers increased its position in Shell by 9.8% in the second quarter. Rhumbline Advisers now owns 35,107 shares of the energy company’s stock worth $2,534,000 after buying an additional 3,143 shares during the last quarter. Strategic Financial Concepts LLC raised its stake in shares of Shell by 2,807.6% in the second quarter. Strategic Financial Concepts LLC now owns 153,492 shares of the energy company’s stock valued at $111,000 after buying an additional 148,213 shares during the period. Finally, Asset Dedication LLC grew its stake in shares of Shell by 103.5% during the 2nd quarter. Asset Dedication LLC now owns 981 shares of the energy company’s stock worth $71,000 after acquiring an additional 499 shares during the period. Institutional investors and hedge funds own 28.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on SHEL shares. Scotiabank cut their target price on shares of Shell from $90.00 to $80.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Piper Sandler decreased their price objective on Shell from $82.00 to $72.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Barclays raised Shell to a “strong-buy” rating in a report on Wednesday, October 2nd. Wells Fargo & Company lowered their price target on shares of Shell from $88.00 to $87.00 and set an “overweight” rating on the stock in a report on Monday, December 9th. Finally, UBS Group upgraded shares of Shell from a “neutral” rating to a “buy” rating in a research report on Wednesday. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $79.83.

Shell Price Performance

Shares of Shell stock traded down $1.52 during trading on Wednesday, hitting $64.41. 3,908,626 shares of the stock traded hands, compared to its average volume of 4,355,674. The firm’s fifty day moving average is $64.50 and its 200-day moving average is $68.15. The company has a quick ratio of 1.13, a current ratio of 1.40 and a debt-to-equity ratio of 0.34. Shell plc has a 52 week low of $60.15 and a 52 week high of $74.61. The stock has a market cap of $198.21 billion, a price-to-earnings ratio of 13.25, a PEG ratio of 4.84 and a beta of 0.55.

Shell Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Friday, November 15th were given a dividend of $0.688 per share. This represents a $2.75 dividend on an annualized basis and a yield of 4.27%. The ex-dividend date was Friday, November 15th. Shell’s payout ratio is currently 56.58%.

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.