Choice Wealth Advisors LLC Makes New $218,000 Investment in Shell plc (NYSE:SHEL)

Choice Wealth Advisors LLC bought a new position in shares of Shell plc (NYSE:SHEL) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 2,976 shares of the energy company’s stock, valued at approximately $218,000. Shell comprises 0.1% of Choice Wealth Advisors LLC’s portfolio, making the stock its 28th largest position.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SHEL. FMR LLC lifted its position in Shell by 32.3% during the 4th quarter. FMR LLC now owns 86,417,177 shares of the energy company’s stock worth $5,414,036,000 after acquiring an additional 21,118,234 shares during the last quarter. Voloridge Investment Management LLC lifted its position in Shell by 170.3% during the 4th quarter. Voloridge Investment Management LLC now owns 3,463,372 shares of the energy company’s stock worth $216,980,000 after acquiring an additional 2,182,253 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Shell during the fourth quarter valued at about $91,716,000. Freestone Grove Partners LP acquired a new position in shares of Shell during the fourth quarter valued at about $83,204,000. Finally, Merewether Investment Management LP raised its position in shares of Shell by 46.5% during the fourth quarter. Merewether Investment Management LP now owns 2,262,997 shares of the energy company’s stock valued at $141,777,000 after buying an additional 718,233 shares during the last quarter. Institutional investors and hedge funds own 28.60% of the company’s stock.

Shell Stock Performance

Shares of Shell stock opened at $67.48 on Friday. The firm has a market capitalization of $201.69 billion, a P/E ratio of 13.44, a P/E/G ratio of 0.98 and a beta of 0.38. The company’s 50 day moving average price is $65.56 and its two-hundred day moving average price is $65.86. 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 fifty-two week low of $58.55 and a fifty-two week high of $74.46.

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

Shell Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 23rd. Investors of record on Friday, May 16th will be issued a dividend of $0.716 per share. This represents a $2.86 annualized dividend and a yield of 4.24%. The ex-dividend date of this dividend is Friday, May 16th. Shell’s dividend payout ratio (DPR) is presently 65.90%.

Shell declared that its board has authorized a stock repurchase program on Friday, May 2nd that permits the company to buyback $3.50 billion in outstanding shares. This buyback authorization permits the energy company to purchase up to 1.8% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. TD Securities reaffirmed a “buy” rating on shares of Shell in a research report on Friday, April 4th. TD Cowen lowered their target price on shares of Shell from $82.00 to $76.00 and set a “buy” rating on the stock in a research note on Tuesday, April 8th. Barclays reissued an “overweight” rating on shares of Shell in a research note on Wednesday, March 26th. Piper Sandler upped their target price on shares of Shell from $72.00 to $80.00 and gave the company an “overweight” rating in a research note on Tuesday, May 13th. Finally, Wells Fargo & Company lowered their target price on shares of Shell from $83.00 to $80.00 and set an “overweight” rating on the stock in a research note on Monday, May 5th. One investment analyst has rated the stock with a hold rating, eleven have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $78.35.

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.