New Wave Wealth Advisors LLC Invests $161,000 in Shell plc (NYSE:SHEL)

New Wave Wealth Advisors LLC purchased a new position in shares of Shell plc (NYSE:SHEL) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 2,569 shares of the energy company’s stock, valued at approximately $161,000.

A number of other institutional investors have also recently bought and sold shares of the business. FMR LLC lifted its position in Shell by 5.2% during the third quarter. FMR LLC now owns 65,298,943 shares of the energy company’s stock worth $4,306,465,000 after purchasing an additional 3,255,347 shares during the period. Fisher Asset Management LLC boosted its position in shares of Shell by 2.1% during the 3rd quarter. Fisher Asset Management LLC now owns 24,530,647 shares of the energy company’s stock worth $1,617,796,000 after acquiring an additional 507,311 shares in the last quarter. Franklin Resources Inc. raised its position in Shell by 0.9% during the third quarter. Franklin Resources Inc. now owns 5,972,945 shares of the energy company’s stock valued at $408,430,000 after purchasing an additional 55,637 shares in the last quarter. Mawer Investment Management Ltd. boosted its holdings in shares of Shell by 8.7% in the 3rd quarter. Mawer Investment Management Ltd. now owns 5,282,868 shares of the energy company’s stock valued at $348,405,000 after purchasing an additional 422,329 shares in the last quarter. Finally, Holocene Advisors LP increased its stake in shares of 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 purchasing an additional 866,954 shares during the last quarter. Institutional investors own 28.60% of the company’s stock.

Shell Stock Down 1.3 %

Shell stock opened at $65.82 on Friday. Shell plc has a 52-week low of $60.15 and a 52-week high of $74.61. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.13 and a current ratio of 1.40. The firm has a 50 day moving average price of $64.17 and a two-hundred day moving average price of $67.36. The firm has a market cap of $201.23 billion, a price-to-earnings ratio of 13.54, a PEG ratio of 6.46 and a beta of 0.55.

Shell (NYSE:SHEL) last released its earnings results on Thursday, January 30th. The energy company reported $1.20 EPS for the quarter, missing the consensus estimate of $1.74 by ($0.54). Shell had a return on equity of 14.54% and a net margin of 5.17%. Equities analysts predict that Shell plc will post 8.11 EPS for the current year.

Shell Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Friday, February 14th will be paid a dividend of $0.716 per share. 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 4.35%. The ex-dividend date of this dividend is Friday, February 14th. Shell’s dividend payout ratio is 56.58%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Scotiabank reduced their price objective on Shell from $90.00 to $80.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. 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. Piper Sandler cut 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. Wolfe Research upgraded shares of 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. Finally, Wells Fargo & Company reduced their price objective on Shell from $86.00 to $82.00 and set an “overweight” rating on the stock in a research report on Friday. One research analyst has rated the stock with a hold rating, eight have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $79.11.

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.