Shell plc (NYSE:SHEL) Stock Holdings Boosted by Summit Securities Group LLC

Summit Securities Group LLC lifted its holdings in shares of Shell plc (NYSE:SHEL) by 50.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 600 shares of the energy company’s stock after acquiring an additional 200 shares during the period. Summit Securities Group LLC’s holdings in Shell were worth $38,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in SHEL. Raymond James Financial Inc. bought a new position in shares of Shell in the fourth quarter worth $91,716,000. Holocene Advisors LP grew its position in Shell by 29.8% in the 3rd quarter. Holocene Advisors LP now owns 3,773,617 shares of the energy company’s stock valued at $248,870,000 after buying an additional 866,954 shares in the last quarter. Merewether Investment Management LP raised its position in shares of Shell by 41.0% during the 3rd quarter. Merewether Investment Management LP now owns 1,544,764 shares of the energy company’s stock worth $101,877,000 after buying an additional 449,000 shares in the last quarter. Fisher Asset Management LLC lifted its stake in shares of Shell by 1.7% in the 4th quarter. Fisher Asset Management LLC now owns 24,938,735 shares of the energy company’s stock worth $1,562,412,000 after acquiring an additional 408,088 shares during the period. Finally, SG Americas Securities LLC increased its stake in shares of Shell by 16,663.4% during the fourth quarter. SG Americas Securities LLC now owns 307,440 shares of the energy company’s stock valued at $19,261,000 after acquiring an additional 305,606 shares during the period. 28.60% of the stock is currently owned by institutional investors and hedge funds.

Shell Trading Down 0.7 %

Shell stock opened at $72.74 on Monday. The company has a 50 day moving average price of $67.68 and a 200 day moving average price of $66.42. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.10 and a current ratio of 1.35. Shell plc has a 52 week low of $60.15 and a 52 week high of $74.61. The firm has a market capitalization of $219.95 billion, a price-to-earnings ratio of 14.49, a P/E/G ratio of 0.98 and a beta of 0.47.

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 net margin of 5.57% and a return on equity of 12.75%. Research analysts forecast that Shell plc will post 7.67 EPS for the current year.

Shell Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Friday, February 14th were given a dividend of $0.716 per share. The ex-dividend date of this dividend was Friday, February 14th. This is an increase from Shell’s previous quarterly dividend of $0.69. This represents a $2.86 dividend on an annualized basis and a yield of 3.94%. Shell’s payout ratio is presently 56.97%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SHEL. TD Cowen initiated coverage on Shell in a research note on Wednesday, March 19th. They set a “buy” rating and a $81.00 price target for the company. TD Securities lifted their target price on Shell from $81.00 to $82.00 and gave the stock a “buy” rating in a report on Wednesday, March 19th. Wolfe Research upgraded shares of Shell from a “peer perform” rating to an “outperform” rating and set a $80.00 price objective for the company in a research report on Friday, January 3rd. Piper Sandler cut their target price on shares of Shell from $82.00 to $72.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Finally, Morgan Stanley upgraded shares of Shell from an “equal weight” rating to an “overweight” rating and lifted 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, ten have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Shell has a consensus rating of “Buy” and an average price target 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.