Shell plc (NYSE:SHEL) Stock Position Lifted by Absher Wealth Management LLC

Absher Wealth Management LLC lifted its stake in shares of Shell plc (NYSE:SHEL) by 69.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 23,617 shares of the energy company’s stock after purchasing an additional 9,662 shares during the quarter. Absher Wealth Management LLC’s holdings in Shell were worth $1,480,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Valley National Advisers Inc. lifted its position in Shell by 930.2% in the fourth quarter. Valley National Advisers Inc. now owns 443 shares of the energy company’s stock worth $27,000 after purchasing an additional 400 shares during the period. Fortitude Family Office LLC purchased a new stake in Shell in the 3rd quarter worth approximately $30,000. Valley Wealth Managers Inc. purchased a new position in shares of Shell during the 3rd quarter valued at $33,000. Brooklyn Investment Group purchased a new stake in shares of Shell during the third quarter worth $35,000. Finally, GHP Investment Advisors Inc. grew its stake in shares of Shell by 40.8% in the 3rd quarter. GHP Investment Advisors Inc. now owns 563 shares of the energy company’s stock valued at $37,000 after buying an additional 163 shares in the last quarter. Institutional investors own 28.60% of the company’s stock.

Shell Price Performance

SHEL stock opened at $66.55 on Thursday. The company has a market capitalization of $203.49 billion, a P/E ratio of 13.26, a PEG ratio of 6.57 and a beta of 0.54. Shell plc has a 52-week low of $60.15 and a 52-week high of $74.61. The company has a fifty day moving average price of $64.25 and a 200-day moving average price of $67.18. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.10 and a current ratio of 1.35.

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%. As a group, equities analysts expect that Shell plc will post 7.27 EPS for the current year.

Shell Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Friday, February 14th will be paid a $0.716 dividend. The ex-dividend date is Friday, February 14th. This is a positive change from Shell’s previous quarterly dividend of $0.69. This represents a $2.86 annualized dividend and a yield of 4.30%. Shell’s payout ratio is 54.78%.

Wall Street Analysts Forecast Growth

SHEL has been the topic of a number of recent analyst reports. Piper Sandler cut their price objective on Shell from $82.00 to $72.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Wells Fargo & Company lowered 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, January 31st. Wolfe Research raised Shell from a “peer perform” rating to an “outperform” rating and set a $80.00 target price for the company in a report on Friday, January 3rd. Sanford C. Bernstein upgraded shares of Shell to a “strong-buy” rating in a research report on Friday, October 11th. Finally, Morgan Stanley upgraded shares of Shell from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $66.50 to $79.80 in a research report on Tuesday, January 7th. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, Shell 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.