Mission Wealth Management LP Increases Holdings in Shell plc (NYSE:SHEL)

Mission Wealth Management LP grew its stake in shares of Shell plc (NYSE:SHEL) by 2.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,300 shares of the energy company’s stock after purchasing an additional 540 shares during the quarter. Mission Wealth Management LP’s holdings in Shell were worth $1,561,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Warther Private Wealth LLC boosted its holdings in Shell by 5.0% in the 1st quarter. Warther Private Wealth LLC now owns 3,433 shares of the energy company’s stock worth $252,000 after acquiring an additional 165 shares during the period. Opal Wealth Advisors LLC acquired a new position in shares of Shell during the first quarter worth $120,000. Hennessy Advisors Inc. boosted its stake in shares of Shell by 5.0% in the first quarter. Hennessy Advisors Inc. now owns 82,000 shares of the energy company’s stock valued at $6,009,000 after purchasing an additional 3,900 shares during the period. Farmers & Merchants Investments Inc. grew its holdings in Shell by 2.5% during the 1st quarter. Farmers & Merchants Investments Inc. now owns 9,279 shares of the energy company’s stock valued at $680,000 after purchasing an additional 224 shares in the last quarter. Finally, Goldstone Financial Group LLC acquired a new position in Shell in the 1st quarter worth $242,000. Hedge funds and other institutional investors own 28.60% of the company’s stock.

Analyst Upgrades and Downgrades

SHEL has been the topic of a number of analyst reports. Scotiabank dropped their target price on Shell from $75.00 to $70.00 and set a “sector outperform” rating on the stock in a research report on Friday, April 11th. Hsbc Global Res upgraded Shell to a “strong-buy” rating in a research note on Tuesday, May 13th. TD Securities reaffirmed a “buy” rating on shares of Shell in a research report on Friday, April 4th. Sanford C. Bernstein downgraded shares of Shell from an “outperform” rating to a “market perform” rating in a research report on Monday. Finally, Wells Fargo & Company cut their price target on shares of Shell from $83.00 to $80.00 and set an “overweight” rating on the stock in a report on Monday, May 5th. Two analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $78.26.

Shell Price Performance

NYSE SHEL opened at $71.44 on Tuesday. The stock has a market capitalization of $213.51 billion, a P/E ratio of 14.23, a P/E/G ratio of 0.98 and a beta of 0.39. 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 business’s fifty day moving average is $66.19 and its two-hundred day moving average is $66.11. Shell plc has a 1 year low of $58.55 and a 1 year high of $74.46.

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

Shell Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 23rd. Stockholders of record on Friday, May 16th will be issued a dividend of $0.716 per share. The ex-dividend date is Friday, May 16th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 4.01%. Shell’s dividend payout ratio is currently 65.90%.

Shell announced that its Board of Directors has initiated 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 repurchase up to 1.8% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership 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.