Modern Wealth Management LLC Boosts Holdings in Shell plc (NYSE:SHEL)

Modern Wealth Management LLC lifted its position in Shell plc (NYSE:SHEL) by 5.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,410 shares of the energy company’s stock after acquiring an additional 325 shares during the quarter. Modern Wealth Management LLC’s holdings in Shell were worth $424,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in SHEL. Valley National Advisers Inc. boosted its position in shares of Shell by 930.2% during the fourth 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. CoreFirst Bank & Trust purchased a new position in Shell during the 4th quarter valued at $28,000. Human Investing LLC bought a new position in Shell in the 4th quarter valued at $31,000. Brooklyn Investment Group bought a new stake in shares of Shell during the third quarter worth $35,000. Finally, Millstone Evans Group LLC purchased a new stake in shares of Shell during the fourth quarter valued at $36,000. 28.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on SHEL. TD Securities lifted their price objective on shares of Shell from $81.00 to $82.00 and gave the company a “buy” rating in a report on Wednesday, March 19th. Piper Sandler dropped 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. UBS Group raised Shell from a “neutral” rating to a “buy” rating in a research report on Wednesday, January 8th. Wells Fargo & Company raised their price target on Shell from $81.00 to $87.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, Wolfe Research upgraded shares of Shell from a “peer perform” rating to an “outperform” rating and set a $80.00 target price on the stock in a report on Friday, January 3rd. One equities research analyst has rated the stock with a hold rating, nine have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $80.10.

Shell Price Performance

Shares of SHEL opened at $73.35 on Friday. The company has a 50 day moving average of $67.56 and a two-hundred day moving average of $66.38. The company has a market cap of $221.80 billion, a price-to-earnings ratio of 14.61, a price-to-earnings-growth ratio of 0.98 and a beta of 0.47. 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.

Shell (NYSE:SHEL) last announced its earnings results 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%. As a group, analysts predict that Shell plc will post 7.67 earnings per share for the current fiscal year.

Shell Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Friday, February 14th were issued a $0.716 dividend. This represents a $2.86 annualized dividend and a yield of 3.90%. This is a positive change from Shell’s previous quarterly dividend of $0.69. The ex-dividend date was Friday, February 14th. Shell’s dividend payout ratio is presently 56.97%.

Shell 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.