Alhambra Investment Management LLC Has $904,000 Stake in Shell plc (NYSE:SHEL)

Alhambra Investment Management LLC trimmed its position in shares of Shell plc (NYSE:SHEL) by 3.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,341 shares of the energy company’s stock after selling 408 shares during the quarter. Alhambra Investment Management LLC’s holdings in Shell were worth $904,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Kennebec Savings Bank bought a new stake in Shell during the first quarter worth $25,000. CoreFirst Bank & Trust bought a new stake in Shell during the fourth quarter worth $28,000. Human Investing LLC bought a new stake in Shell during the fourth quarter worth $31,000. Transce3nd LLC bought a new stake in Shell during the fourth quarter worth $34,000. Finally, Millstone Evans Group LLC bought a new stake in Shell during the fourth quarter worth $36,000. 28.60% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Hsbc Global Res upgraded Shell to a “strong-buy” rating in a report on Tuesday, May 13th. Barclays reaffirmed an “overweight” rating on shares of Shell in a research report on Wednesday, March 26th. TD Securities reaffirmed a “buy” rating on shares of Shell in a research report on Friday, April 4th. Wells Fargo & Company decreased their target price on Shell from $83.00 to $80.00 and set an “overweight” rating for the company in a research report on Monday, May 5th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating on shares of Shell in a research report on Wednesday, March 26th. One analyst has rated the stock with a hold rating, ten have issued a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $78.26.

Shell Stock Up 2.6%

SHEL stock opened at $70.05 on Wednesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.10 and a current ratio of 1.35. The company has a market capitalization of $209.35 billion, a price-to-earnings ratio of 13.95, a PEG ratio of 0.98 and a beta of 0.39. Shell plc has a fifty-two week low of $58.55 and a fifty-two week high of $74.46. The stock has a fifty day moving average of $65.37 and a 200-day moving average of $65.92.

Shell (NYSE:SHEL) last posted its quarterly earnings results on Friday, May 2nd. The energy company reported $1.84 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $79.18 billion. During the same quarter in the prior year, the company earned $2.40 EPS. As a group, equities research analysts predict that Shell plc will post 7.67 earnings per share for the current year.

Shell announced that its board has authorized a stock repurchase plan on Friday, May 2nd that allows the company to repurchase $3.50 billion in outstanding shares. This repurchase authorization allows the energy company to reacquire up to 1.8% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Shell Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 23rd. Shareholders of record on Friday, May 16th will be issued a $0.716 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $2.86 annualized dividend and a dividend yield of 4.09%. Shell’s payout ratio is currently 65.90%.

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.