Elgethun Capital Management Acquires 470 Shares of Shell plc (NYSE:SHEL)

Elgethun Capital Management raised its holdings in Shell plc (NYSE:SHEL) by 15.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,553 shares of the energy company’s stock after purchasing an additional 470 shares during the period. Elgethun Capital Management’s holdings in Shell were worth $223,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. FMR LLC boosted its stake in shares of Shell by 32.3% in the fourth quarter. FMR LLC now owns 86,417,177 shares of the energy company’s stock valued at $5,414,036,000 after buying an additional 21,118,234 shares during the period. Fisher Asset Management LLC lifted its position in shares of Shell by 1.7% during the 4th quarter. Fisher Asset Management LLC now owns 24,938,735 shares of the energy company’s stock valued at $1,562,412,000 after acquiring an additional 408,088 shares during the period. Wellington Management Group LLP grew its holdings in shares of Shell by 3.1% during the 4th quarter. Wellington Management Group LLP now owns 7,982,817 shares of the energy company’s stock worth $500,123,000 after purchasing an additional 238,705 shares in the last quarter. Franklin Resources Inc. raised its stake in Shell by 0.8% in the fourth quarter. Franklin Resources Inc. now owns 6,023,173 shares of the energy company’s stock valued at $377,352,000 after purchasing an additional 50,228 shares in the last quarter. Finally, Jennison Associates LLC grew its stake in Shell by 1.0% during the fourth quarter. Jennison Associates LLC now owns 3,045,043 shares of the energy company’s stock worth $190,772,000 after buying an additional 30,844 shares in the last quarter. Institutional investors and hedge funds own 28.60% of the company’s stock.

Shell Stock Down 8.1 %

Shares of NYSE:SHEL opened at $64.13 on Monday. The firm has a market cap of $193.92 billion, a P/E ratio of 12.78, a P/E/G ratio of 0.98 and a beta of 0.27. The business has a fifty day simple moving average of $68.12 and a 200 day simple moving average of $66.52. The company has a quick ratio of 1.10, a current ratio of 1.35 and a debt-to-equity ratio of 0.36. Shell plc has a 12-month low of $58.92 and a 12-month high of $74.61.

Shell (NYSE:SHEL) last released 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 net margin of 5.57% and a return on equity of 12.75%. Analysts predict that Shell plc will post 7.67 earnings per share for the current year.

Shell Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Friday, February 14th were given a dividend of $0.716 per share. The ex-dividend date was Friday, February 14th. This represents a $2.86 dividend on an annualized basis and a yield of 4.47%. This is a boost from Shell’s previous quarterly dividend of $0.69. Shell’s dividend payout ratio is 56.97%.

Analysts Set New Price Targets

SHEL has been the subject of a number of recent analyst reports. Barclays reaffirmed an “overweight” rating on shares of Shell in a report on Wednesday, March 26th. Wolfe Research raised Shell from a “peer perform” rating to an “outperform” rating and set a $80.00 price target for the company in a report on Friday, January 3rd. Royal Bank of Canada reaffirmed an “outperform” rating on shares of Shell in a research note on Wednesday, March 26th. TD Cowen assumed coverage on shares of Shell in a report on Wednesday, March 19th. They issued a “buy” rating and a $81.00 target price for the company. Finally, Morgan Stanley raised shares of Shell from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $66.50 to $79.80 in a report on Tuesday, January 7th. One investment analyst has rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $80.10.

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.