Holderness Investments Co. Makes New Investment in Shell plc (NYSE:SHEL)

Holderness Investments Co. acquired a new stake in shares of Shell plc (NYSE:SHEL) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 3,679 shares of the energy company’s stock, valued at approximately $230,000.

Several other hedge funds have also added to or reduced their stakes in the stock. Valley National Advisers Inc. lifted its position in Shell by 930.2% in the 4th quarter. Valley National Advisers Inc. now owns 443 shares of the energy company’s stock valued at $27,000 after acquiring an additional 400 shares in the last quarter. Human Investing LLC bought a new position in shares of Shell during the fourth quarter valued at $31,000. Brooklyn Investment Group bought a new stake in Shell in the 3rd quarter worth about $35,000. Sierra Ocean LLC purchased a new position in Shell in the 4th quarter worth about $39,000. Finally, Kieckhefer Group LLC purchased a new stake in shares of Shell during the 4th quarter valued at about $40,000. 28.60% of the stock is owned by institutional investors.

Shell Stock Performance

Shares of NYSE SHEL opened at $71.08 on Friday. The stock has a market cap of $214.91 billion, a PE ratio of 14.16, a price-to-earnings-growth ratio of 0.98 and a beta of 0.47. Shell plc has a 1 year low of $60.15 and a 1 year high of $74.61. The firm has a fifty day moving average price of $67.05 and a 200-day moving average price of $66.26. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.35 and a quick ratio of 1.10.

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

Shell Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Friday, February 14th will be issued a $0.716 dividend. This represents a $2.86 annualized dividend and a dividend yield of 4.03%. This is a boost from Shell’s previous quarterly dividend of $0.69. The ex-dividend date is Friday, February 14th. Shell’s payout ratio is 56.97%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on SHEL shares. Wells Fargo & Company lowered their price objective on shares of Shell from $86.00 to $82.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Wolfe Research upgraded Shell from a “peer perform” rating to an “outperform” rating and set a $80.00 price target on the stock in a research note on Friday, January 3rd. TD Cowen initiated coverage on Shell in a research report on Wednesday. They set a “buy” rating and a $81.00 price objective for the company. Morgan Stanley upgraded Shell from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $66.50 to $79.80 in a research note on Tuesday, January 7th. Finally, TD Securities raised their price objective on shares of Shell from $81.00 to $82.00 and gave the stock a “buy” rating in a report on Wednesday. One analyst has rated the stock with a hold rating, nine have issued a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Shell has a consensus rating of “Buy” and an average price target of $79.48.

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.