Clearstead Trust LLC Invests $608,000 in Shell plc (NYSE:SHEL)

Clearstead Trust LLC acquired a new stake in Shell plc (NYSE:SHEL) in the fourth quarter, according to its most recent filing with the SEC. The fund acquired 9,712 shares of the energy company’s stock, valued at approximately $608,000.

Other hedge funds have also bought and sold shares of the company. Brighton Jones LLC grew its stake 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 in the last quarter. Private Advisor Group LLC grew its stake in Shell by 0.9% in the 4th quarter. Private Advisor Group LLC now owns 33,168 shares of the energy company’s stock valued at $2,078,000 after buying an additional 301 shares in the last quarter. HF Advisory Group LLC boosted its holdings 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 purchasing an additional 4,028 shares during the period. Rockefeller Capital Management L.P. boosted its holdings 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 purchasing an additional 46,293 shares during the period. Finally, Lockheed Martin Investment Management Co. boosted its holdings 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 purchasing an additional 88,700 shares during the period. 28.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have commented on the stock. UBS Group raised shares of Shell from a “neutral” rating to a “buy” rating in a report on Wednesday, January 8th. Morgan Stanley raised shares of Shell from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $66.50 to $79.80 in a report on Tuesday, January 7th. Wells Fargo & Company cut their price target on shares of Shell from $86.00 to $82.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Piper Sandler dropped their price objective on shares of Shell from $82.00 to $72.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Finally, Wolfe Research raised shares of Shell from a “peer perform” rating to an “outperform” rating and set a $80.00 price objective for the company in a report on Friday, January 3rd. One research 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 stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $79.11.

Shell Stock Performance

Shell stock opened at $68.78 on Friday. 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 company has a market capitalization of $209.17 billion, a PE ratio of 13.70, a P/E/G ratio of 0.98 and a beta of 0.47. The firm has a fifty day simple moving average of $66.44 and a two-hundred day simple moving average of $66.29. Shell plc has a twelve month low of $60.15 and a twelve month high of $74.61.

Shell (NYSE:SHEL) last posted its quarterly earnings results on Thursday, January 30th. The energy company reported $1.20 earnings per share 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%. Research analysts expect that Shell plc will post 7.67 EPS for the current year.

Shell Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Friday, February 14th will be given a $0.716 dividend. This is a boost from Shell’s previous quarterly dividend of $0.69. The ex-dividend date is Friday, February 14th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 4.16%. Shell’s payout ratio is presently 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.