Confluence Investment Management LLC Acquires 790 Shares of Shell plc (NYSE:SHEL)

Confluence Investment Management LLC raised its stake in Shell plc (NYSE:SHEL) by 3.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 22,801 shares of the energy company’s stock after purchasing an additional 790 shares during the quarter. Confluence Investment Management LLC’s holdings in Shell were worth $1,671,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. CoreFirst Bank & Trust bought a new position in shares of Shell during the 4th quarter worth approximately $28,000. Valley National Advisers Inc. boosted its position in Shell by 930.2% in the fourth quarter. Valley National Advisers Inc. now owns 443 shares of the energy company’s stock worth $27,000 after purchasing an additional 400 shares during the last quarter. Human Investing LLC bought a new position in Shell in the 4th quarter valued at $31,000. Transce3nd LLC bought a new stake in shares of Shell during the 4th quarter worth $34,000. Finally, Millstone Evans Group LLC purchased a new position in shares of Shell in the 4th quarter worth about $36,000. Hedge funds and other institutional investors own 28.60% of the company’s stock.

Analysts Set New Price Targets

SHEL has been the topic of a number of research analyst reports. Hsbc Global Res upgraded shares of Shell to a “strong-buy” rating in a research note on Tuesday, May 13th. TD Cowen dropped their price objective on Shell from $82.00 to $76.00 and set a “buy” rating on the stock in a research note on Tuesday, April 8th. Royal Bank of Canada reissued an “outperform” rating on shares of Shell in a research report on Wednesday, March 26th. Barclays reaffirmed an “overweight” rating on shares of Shell in a research report on Wednesday, March 26th. Finally, Piper Sandler boosted their price objective on Shell from $72.00 to $80.00 and gave the company an “overweight” rating in a research note on Tuesday, May 13th. One equities research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $78.35.

Shell Stock Up 0.6%

SHEL stock opened at $66.45 on Friday. Shell plc has a twelve month low of $58.55 and a twelve month high of $74.46. The firm has a market capitalization of $198.62 billion, a PE ratio of 13.24, a PEG ratio of 0.98 and a beta of 0.38. The company has a quick ratio of 1.10, a current ratio of 1.35 and a debt-to-equity ratio of 0.36. The stock has a 50-day simple moving average of $66.12 and a two-hundred day simple moving average of $65.81.

Shell (NYSE:SHEL) last posted 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. The business had revenue of $69.23 billion for the quarter, compared to analyst estimates of $79.18 billion. Shell had a net margin of 5.57% and a return on equity of 12.75%. During the same quarter in the prior year, the firm posted $2.40 EPS. On average, equities analysts predict that Shell plc will post 7.67 EPS for the current fiscal year.

Shell Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 23rd. Investors of record on Friday, May 16th will be given a dividend of $0.716 per share. This represents a $2.86 annualized dividend and a yield of 4.31%. The ex-dividend date of this dividend is Friday, May 16th. Shell’s payout ratio is 65.90%.

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 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.