Birchcreek Wealth Management LLC Invests $206,000 in Shell plc (NYSE:SHEL)

Birchcreek Wealth Management LLC purchased a new position in shares of Shell plc (NYSE:SHEL) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 3,294 shares of the energy company’s stock, valued at approximately $206,000.

Other hedge funds also recently modified their holdings of the company. Brighton Jones LLC raised its position in Shell by 51.7% in the 4th quarter. Brighton Jones LLC now owns 7,463 shares of the energy company’s stock valued at $468,000 after buying an additional 2,545 shares during the last quarter. NorthCrest Asset Manangement LLC raised its position in Shell by 6.4% in the 3rd quarter. NorthCrest Asset Manangement LLC now owns 3,741 shares of the energy company’s stock valued at $247,000 after buying an additional 225 shares during the last quarter. HF Advisory Group LLC raised its position in Shell by 15.8% in the 4th quarter. HF Advisory Group LLC now owns 29,560 shares of the energy company’s stock valued at $1,852,000 after buying an additional 4,028 shares during the last quarter. Rockefeller Capital Management L.P. raised its position in Shell by 1.5% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 3,125,284 shares of the energy company’s stock valued at $206,116,000 after buying an additional 46,293 shares during the last quarter. Finally, Lockheed Martin Investment Management Co. raised its position in Shell by 266.1% in the 4th quarter. Lockheed Martin Investment Management Co. now owns 122,030 shares of the energy company’s stock valued at $7,645,000 after buying an additional 88,700 shares during the last quarter. Institutional investors and hedge funds own 28.60% of the company’s stock.

Wall Street Analyst Weigh In

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

Shell Stock Performance

Shares of NYSE SHEL opened at $66.67 on Monday. The company has a current ratio of 1.35, a quick ratio of 1.10 and a debt-to-equity ratio of 0.36. Shell plc has a 12 month low of $60.15 and a 12 month high of $74.61. The stock has a 50 day moving average of $64.89 and a 200-day moving average of $66.76. The company has a market capitalization of $202.75 billion, a P/E ratio of 13.28, a P/E/G ratio of 0.98 and a beta of 0.54.

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

Shell Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Friday, February 14th will be paid a $0.716 dividend. The ex-dividend date is Friday, February 14th. This is an increase from Shell’s previous quarterly dividend of $0.69. This represents a $2.86 annualized dividend and a yield of 4.30%. Shell’s payout ratio is 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.