Old Port Advisors Raises Stock Holdings in Shell plc (NYSE:SHEL)

Old Port Advisors boosted its holdings in shares of Shell plc (NYSE:SHEL) by 8.5% in the fourth quarter, Holdings Channel.com reports. The fund owned 4,149 shares of the energy company’s stock after acquiring an additional 325 shares during the quarter. Old Port Advisors’ holdings in Shell were worth $260,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Coronation Fund Managers Ltd. grew its stake in Shell by 7.6% in the second quarter. Coronation Fund Managers Ltd. now owns 15,201 shares of the energy company’s stock worth $1,097,000 after purchasing an additional 1,068 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Shell by 61.4% in the second quarter. Allspring Global Investments Holdings LLC now owns 11,131 shares of the energy company’s stock valued at $803,000 after acquiring an additional 4,233 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Shell in the second quarter worth about $49,000. Rhumbline Advisers grew its holdings in Shell by 9.8% during the 2nd quarter. Rhumbline Advisers now owns 35,107 shares of the energy company’s stock worth $2,534,000 after acquiring an additional 3,143 shares in the last quarter. Finally, TIAA Trust National Association raised its holdings in shares of Shell by 1.7% in the 2nd quarter. TIAA Trust National Association now owns 13,792 shares of the energy company’s stock valued at $996,000 after purchasing an additional 224 shares in the last quarter. Hedge funds and other institutional investors own 28.60% of the company’s stock.

Shell Stock Up 0.7 %

SHEL stock opened at $63.10 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.40 and a debt-to-equity ratio of 0.34. Shell plc has a 52 week low of $60.15 and a 52 week high of $74.61. The stock has a market capitalization of $194.17 billion, a PE ratio of 12.98, a price-to-earnings-growth ratio of 4.84 and a beta of 0.55. The firm has a 50 day moving average of $64.56 and a 200 day moving average of $68.26.

Shell Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Friday, November 15th were given a $0.688 dividend. This represents a $2.75 annualized dividend and a dividend yield of 4.36%. The ex-dividend date was Friday, November 15th. Shell’s payout ratio is 56.58%.

Analysts Set New Price Targets

Several brokerages recently issued reports on SHEL. Citigroup raised shares of Shell to a “hold” rating in a report on Wednesday, October 2nd. Barclays raised Shell to a “strong-buy” rating in a research report on Wednesday, October 2nd. Piper Sandler cut their target price on Shell from $82.00 to $72.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Wells Fargo & Company lowered their price target on shares of Shell from $88.00 to $87.00 and set an “overweight” rating on the stock in a report on Monday, December 9th. Finally, Sanford C. Bernstein upgraded shares of Shell to a “strong-buy” rating in a research note on Friday, October 11th. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Shell currently has a consensus rating of “Buy” and a consensus target price of $79.80.

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.