Allworth Financial LP Has $1.91 Million Position in Shell plc (NYSE:SHEL)

Allworth Financial LP raised its position in Shell plc (NYSE:SHEL) by 13.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,018 shares of the energy company’s stock after buying an additional 3,330 shares during the quarter. Allworth Financial LP’s holdings in Shell were worth $1,914,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of SHEL. SG Americas Securities LLC bought a new stake in shares of Shell in the third quarter valued at approximately $121,000. First Citizens Bank & Trust Co. acquired a new stake in shares of Shell during the 3rd quarter worth $207,000. Allspring Global Investments Holdings LLC increased its position in shares of Shell by 45.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 16,181 shares of the energy company’s stock worth $1,067,000 after purchasing an additional 5,050 shares during the period. Whittier Trust Co. lifted its position in Shell by 3.8% during the third quarter. Whittier Trust Co. now owns 21,851 shares of the energy company’s stock worth $1,441,000 after purchasing an additional 791 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. grew its stake in Shell by 1.9% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 22,468 shares of the energy company’s stock worth $1,482,000 after buying an additional 416 shares in the last quarter. Institutional investors and hedge funds own 28.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on SHEL. Morgan Stanley raised shares of Shell from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $66.50 to $79.80 in a report on Tuesday, January 7th. 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. UBS Group raised Shell from a “neutral” rating to a “buy” rating in a research note on Wednesday, January 8th. Wells Fargo & Company dropped their target price on shares of Shell from $86.00 to $82.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Finally, Piper Sandler decreased 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. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $79.11.

Shell Stock Performance

Shares of Shell stock opened at $67.87 on Wednesday. The stock has a market cap of $207.50 billion, a price-to-earnings ratio of 13.52, a P/E/G ratio of 0.98 and a beta of 0.54. The company has a quick ratio of 1.10, a current ratio of 1.35 and a debt-to-equity ratio of 0.36. Shell plc has a twelve month low of $60.15 and a twelve month high of $74.61. The company’s fifty day moving average is $64.61 and its 200 day moving average is $66.85.

Shell (NYSE:SHEL) last issued 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%. Sell-side analysts forecast that Shell plc will post 7.46 EPS for the current year.

Shell Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Friday, February 14th will be given a dividend of $0.716 per share. The ex-dividend date of this dividend is Friday, February 14th. This is a boost from Shell’s previous quarterly dividend of $0.69. This represents a $2.86 annualized dividend and a dividend yield of 4.22%. Shell’s dividend payout ratio is 54.78%.

Shell Company Profile

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.