Sagespring Wealth Partners LLC Buys 7,007 Shares of Shell plc (NYSE:SHEL)

Sagespring Wealth Partners LLC boosted its holdings in Shell plc (NYSE:SHEL) by 79.2% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 15,852 shares of the energy company’s stock after acquiring an additional 7,007 shares during the quarter. Sagespring Wealth Partners LLC’s holdings in Shell were worth $1,162,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Brighton Jones LLC lifted its holdings in Shell by 51.7% in the fourth quarter. Brighton Jones LLC now owns 7,463 shares of the energy company’s stock valued at $468,000 after buying an additional 2,545 shares during the period. Private Advisor Group LLC lifted its holdings in Shell by 0.9% in the fourth quarter. Private Advisor Group LLC now owns 33,168 shares of the energy company’s stock valued at $2,078,000 after buying an additional 301 shares during the period. Barclays PLC lifted its holdings in Shell by 136.2% in the fourth quarter. Barclays PLC now owns 7,824 shares of the energy company’s stock valued at $490,000 after buying an additional 4,512 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Shell by 8.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 199,856 shares of the energy company’s stock valued at $12,521,000 after buying an additional 14,937 shares during the period. Finally, Americana Partners LLC lifted its holdings in Shell by 373.2% in the fourth quarter. Americana Partners LLC now owns 235,467 shares of the energy company’s stock valued at $14,752,000 after buying an additional 185,711 shares during the period. 28.60% of the stock is currently owned by institutional investors and hedge funds.

Shell Stock Performance

NYSE SHEL opened at $71.44 on Tuesday. The firm has a 50-day moving average of $66.19 and a 200-day moving average of $66.11. 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 stock has a market cap of $213.51 billion, a PE ratio of 14.23, a P/E/G ratio of 0.98 and a beta of 0.39. Shell plc has a 52-week low of $58.55 and a 52-week high of $74.46.

Shell (NYSE:SHEL) last issued its quarterly earnings data 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 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 analysts’ expectations of $79.18 billion. During the same quarter in the previous year, the company earned $2.40 EPS. On average, sell-side analysts anticipate that Shell plc will post 7.67 EPS for the current year.

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

Shell Dividend Announcement

The company also recently announced 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. This represents a $2.86 annualized dividend and a yield of 4.01%. The ex-dividend date is Friday, May 16th. Shell’s dividend payout ratio is currently 65.90%.

Analyst Ratings Changes

Several research firms have weighed in on SHEL. Wells Fargo & Company cut their target price 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. Piper Sandler increased 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. TD Cowen cut their target price on shares of Shell from $82.00 to $76.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. Sanford C. Bernstein downgraded shares of Shell from an “outperform” rating to a “market perform” rating in a research report on Monday. Finally, Royal Bank of Canada reissued an “outperform” rating on shares of Shell in a research report on Wednesday, March 26th. Two investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Shell currently has an average rating of “Buy” and an average target price of $78.26.

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.