Shell plc (NYSE:SHEL) Stock Position Lifted by Wrapmanager Inc.

Wrapmanager Inc. raised its stake in shares of Shell plc (NYSE:SHEL) by 8.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,895 shares of the energy company’s stock after buying an additional 755 shares during the period. Wrapmanager Inc.’s holdings in Shell were worth $651,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of SHEL. ETF Store Inc. grew its position in Shell by 1.5% in the fourth quarter. ETF Store Inc. now owns 11,762 shares of the energy company’s stock worth $774,000 after acquiring an additional 174 shares in the last quarter. Altshuler Shaham Ltd increased its position in Shell by 83.7% during the fourth quarter. Altshuler Shaham Ltd now owns 50,504 shares of the energy company’s stock worth $3,323,000 after buying an additional 23,018 shares during the last quarter. Barlow Wealth Partners Inc. acquired a new stake in shares of Shell in the fourth quarter worth about $215,000. Palisade Asset Management LLC increased its holdings in shares of Shell by 10.8% during the 4th quarter. Palisade Asset Management LLC now owns 4,345 shares of the energy company’s stock valued at $286,000 after acquiring an additional 424 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Shell by 37.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 98,706 shares of the energy company’s stock valued at $6,495,000 after acquiring an additional 26,729 shares in the last quarter. 28.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on SHEL. TheStreet raised shares of Shell from a “c” rating to a “b-” rating in a research report on Monday, January 29th. TD Securities lifted their target price on shares of Shell from $74.00 to $81.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. Finally, Wells Fargo & Company upped their price target on shares of Shell from $88.00 to $91.00 and gave the company an “overweight” rating in a report on Friday, May 3rd. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Shell has an average rating of “Moderate Buy” and a consensus target price of $66.50.

Shell Stock Performance

NYSE SHEL traded up $0.92 during midday trading on Thursday, hitting $73.55. The company had a trading volume of 4,172,991 shares, compared to its average volume of 4,653,999. The firm has a fifty day simple moving average of $69.23 and a two-hundred day simple moving average of $66.18. Shell plc has a fifty-two week low of $55.78 and a fifty-two week high of $73.94. The company has a quick ratio of 1.14, a current ratio of 1.42 and a debt-to-equity ratio of 0.37. The stock has a market cap of $236.66 billion, a price-to-earnings ratio of 13.57, a P/E/G ratio of 1.70 and a beta of 0.59.

Shell Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 24th. Investors of record on Friday, May 17th will be paid a dividend of $0.688 per share. This represents a $2.75 annualized dividend and a yield of 3.74%. This is a positive change from Shell’s previous quarterly dividend of $0.66. The ex-dividend date is Thursday, May 16th. Shell’s payout ratio is currently 50.74%.

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.