CIBC Asset Management Inc Increases Stock Position in Shell plc (NYSE:SHEL)

CIBC Asset Management Inc increased its stake in shares of Shell plc (NYSE:SHEL) by 2.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 39,666 shares of the energy company’s stock after buying an additional 772 shares during the quarter. CIBC Asset Management Inc’s holdings in Shell were worth $2,485,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Valley National Advisers Inc. increased its stake 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 buying an additional 400 shares during the period. Fortitude Family Office LLC purchased a new position in Shell during the third quarter worth about $30,000. Human Investing LLC purchased a new stake in Shell in the 4th quarter valued at approximately $31,000. Valley Wealth Managers Inc. acquired a new position in Shell during the 3rd quarter worth approximately $33,000. Finally, Brooklyn Investment Group acquired a new stake in shares of Shell in the 3rd quarter valued at approximately $35,000. Institutional investors and hedge funds own 28.60% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on SHEL shares. Wells Fargo & Company dropped their price objective on Shell from $86.00 to $82.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Wolfe Research upgraded shares of Shell from a “peer perform” rating to an “outperform” rating and set a $80.00 price objective for the company in a research note on Friday, January 3rd. Piper Sandler lowered 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 upgraded 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 research report on Tuesday, January 7th. Finally, UBS Group raised Shell from a “neutral” rating to a “buy” rating in a research note on Wednesday, January 8th. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, Shell presently has an average rating of “Buy” and a consensus target price of $79.11.

Shell Trading Down 2.5 %

Shares of Shell stock opened at $66.67 on Friday. The business has a 50 day moving average price of $64.89 and a 200 day moving average price of $66.81. The company has a market capitalization of $202.75 billion, a P/E ratio of 13.28, a P/E/G ratio of 0.97 and a beta of 0.54. 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 plc has a 1 year low of $60.15 and a 1 year high of $74.61.

Shell (NYSE:SHEL) last issued its quarterly earnings data on Thursday, January 30th. The energy company reported $1.20 earnings per share (EPS) 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 anticipate that Shell plc will post 7.67 EPS for the current fiscal 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 $0.716 dividend. This represents a $2.86 dividend on an annualized basis and a dividend yield of 4.30%. The ex-dividend date of this dividend is Friday, February 14th. This is a positive change from Shell’s previous quarterly dividend of $0.69. Shell’s payout ratio is currently 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.