Titleist Asset Management LLC Boosts Position in Shell plc (NYSE:SHEL)

Titleist Asset Management LLC boosted its stake in Shell plc (NYSE:SHEL) by 3.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 5,526 shares of the energy company’s stock after purchasing an additional 164 shares during the quarter. Titleist Asset Management LLC’s holdings in Shell were worth $346,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its stake in Shell by 11.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 184,919 shares of the energy company’s stock worth $12,195,000 after buying an additional 18,725 shares in the last quarter. Benjamin Edwards Inc. bought a new position in shares of Shell in the 3rd quarter worth approximately $671,000. Quantinno Capital Management LP lifted its stake in shares of Shell by 4.5% in the 3rd quarter. Quantinno Capital Management LP now owns 73,709 shares of the energy company’s stock valued at $4,861,000 after purchasing an additional 3,184 shares during the period. EP Wealth Advisors LLC boosted its position in shares of Shell by 22.7% during the third quarter. EP Wealth Advisors LLC now owns 16,713 shares of the energy company’s stock valued at $1,102,000 after purchasing an additional 3,087 shares in the last quarter. Finally, Zacks Investment Management bought a new position in Shell in the third quarter worth $202,000. 28.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SHEL has been the topic of a number of recent research reports. Piper Sandler reduced their target price on shares of Shell from $82.00 to $72.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Morgan Stanley raised shares of Shell from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $66.50 to $79.80 in a research note on Tuesday, January 7th. UBS Group raised Shell from a “neutral” rating to a “buy” rating in a research report on Wednesday, January 8th. Barclays reaffirmed an “overweight” rating on shares of Shell in a research report on Wednesday, March 26th. Finally, TD Cowen initiated coverage on Shell in a report on Wednesday, March 19th. They issued a “buy” rating and a $81.00 target price on the stock. 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’s stock. According to MarketBeat, Shell has a consensus rating of “Buy” and an average target price of $80.10.

Shell Trading Down 8.1 %

Shares of NYSE:SHEL opened at $64.13 on Monday. Shell plc has a 1 year low of $58.92 and a 1 year high of $74.61. The stock’s fifty day moving average price is $68.12 and its 200-day moving average price is $66.52. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.35 and a quick ratio of 1.10. The company has a market cap of $193.92 billion, a P/E ratio of 12.78, a PEG ratio of 0.98 and a beta of 0.27.

Shell (NYSE:SHEL) last announced its quarterly earnings results on Thursday, January 30th. The energy company reported $1.20 EPS for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.54). Shell had a return on equity of 12.75% and a net margin of 5.57%. Sell-side analysts expect 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. Stockholders of record on Friday, February 14th were issued a dividend of $0.716 per share. This represents a $2.86 annualized dividend and a dividend yield of 4.47%. This is a boost from Shell’s previous quarterly dividend of $0.69. The ex-dividend date of this dividend was Friday, February 14th. Shell’s dividend 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.