Css LLC Il Raises Stake in Shell plc (NYSE:SHEL)

Css LLC Il raised its holdings in shares of Shell plc (NYSE:SHEL) by 93.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 83,049 shares of the energy company’s stock after purchasing an additional 40,030 shares during the period. Css LLC Il’s holdings in Shell were worth $5,203,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Valley National Advisers Inc. increased its position in Shell by 930.2% during 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 in the last quarter. CoreFirst Bank & Trust purchased a new position in shares of Shell in the 4th quarter worth about $28,000. Human Investing LLC bought a new position in Shell in the 4th quarter worth about $31,000. Transce3nd LLC bought a new stake in Shell during the 4th quarter valued at about $34,000. Finally, Millstone Evans Group LLC purchased a new position in Shell in the fourth quarter worth about $36,000. 28.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Barclays restated an “overweight” rating on shares of Shell in a report on Wednesday, March 26th. Royal Bank of Canada reiterated an “outperform” rating on shares of Shell in a report on Wednesday, March 26th. TD Cowen reduced their price target on shares of Shell from $82.00 to $76.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. Piper Sandler raised their target price on shares of Shell from $72.00 to $80.00 and gave the stock an “overweight” rating in a report on Tuesday, May 13th. Finally, Wells Fargo & Company decreased their target price on shares of Shell from $83.00 to $80.00 and set an “overweight” rating for the company in a research note on Monday, May 5th. One investment analyst has rated the stock with a hold rating, eleven have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $78.35.

Shell Stock Down 0.1%

SHEL opened at $66.59 on Wednesday. The firm’s 50 day simple moving average is $66.76 and its two-hundred day simple moving average is $65.87. The company has a market capitalization of $200.31 billion, a PE ratio of 13.26, a PEG ratio of 0.98 and a beta of 0.38. Shell plc has a 1-year low of $58.55 and a 1-year high of $74.46. The company has a current ratio of 1.35, a quick ratio of 1.10 and a debt-to-equity ratio of 0.36.

Shell (NYSE:SHEL) last announced its earnings results on Friday, May 2nd. The energy company reported $1.84 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.30. Shell had a return on equity of 12.75% and a net margin of 5.57%. The company had revenue of $69.23 billion for the quarter, compared to analysts’ expectations of $79.18 billion. During the same period last year, the firm earned $2.40 EPS. As a group, equities analysts forecast that Shell plc will post 7.67 EPS for the current year.

Shell Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 23rd. Investors of record on Friday, May 16th will be issued a $0.716 dividend. This represents a $2.86 annualized dividend and a yield of 4.30%. The ex-dividend date is Friday, May 16th. Shell’s dividend payout ratio is 65.90%.

Shell declared that its Board of Directors has authorized a stock repurchase plan on Friday, May 2nd that permits the company to buyback $3.50 billion in outstanding shares. This buyback authorization permits the energy company to reacquire up to 1.8% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

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.