SVB Wealth LLC Acquires New Shares in Shell plc (NYSE:SHEL)

SVB Wealth LLC bought a new position in shares of Shell plc (NYSE:SHEL) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 11,968 shares of the energy company’s stock, valued at approximately $750,000.

A number of other hedge funds also recently made changes to their positions in SHEL. FMR LLC lifted its stake in Shell by 5.2% in the 3rd quarter. FMR LLC now owns 65,298,943 shares of the energy company’s stock valued at $4,306,465,000 after purchasing an additional 3,255,347 shares during the last quarter. Fisher Asset Management LLC increased its holdings in shares of Shell by 2.1% during the third quarter. Fisher Asset Management LLC now owns 24,530,647 shares of the energy company’s stock worth $1,617,796,000 after buying an additional 507,311 shares in the last quarter. Franklin Resources Inc. boosted its holdings in shares of Shell by 0.9% during the 3rd quarter. Franklin Resources Inc. now owns 5,972,945 shares of the energy company’s stock valued at $408,430,000 after acquiring an additional 55,637 shares in the last quarter. Mawer Investment Management Ltd. grew its position in Shell by 8.7% during the 3rd quarter. Mawer Investment Management Ltd. now owns 5,282,868 shares of the energy company’s stock worth $348,405,000 after acquiring an additional 422,329 shares during the last quarter. Finally, Holocene Advisors LP increased its holdings in Shell by 29.8% in the 3rd quarter. Holocene Advisors LP now owns 3,773,617 shares of the energy company’s stock worth $248,870,000 after purchasing an additional 866,954 shares in the last quarter. 28.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Shell Stock Performance

SHEL stock opened at $66.49 on Tuesday. Shell plc has a 1-year low of $60.15 and a 1-year high of $74.61. The company has a current ratio of 1.35, a quick ratio of 1.10 and a debt-to-equity ratio of 0.36. The stock has a 50-day moving average price of $65.49 and a 200-day moving average price of $66.59. The firm has a market cap of $202.22 billion, a PE ratio of 13.25, a price-to-earnings-growth ratio of 0.98 and a beta of 0.54.

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

Shell Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Friday, February 14th will be issued a $0.716 dividend. This represents a $2.86 dividend on an annualized basis and a yield of 4.31%. This is a boost from Shell’s previous quarterly dividend of $0.69. The ex-dividend date is Friday, February 14th. Shell’s dividend payout ratio (DPR) 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.