80,555 Shares in Shell plc (NYSE:SHEL) Bought by Cary Street Partners Financial LLC

Cary Street Partners Financial LLC acquired a new stake in Shell plc (NYSE:SHEL - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 80,555 shares of the energy company's stock, valued at approximately $5,047,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. FMR LLC lifted its holdings in shares of Shell by 32.3% during the fourth quarter. FMR LLC now owns 86,417,177 shares of the energy company's stock valued at $5,414,036,000 after acquiring an additional 21,118,234 shares during the period. Fisher Asset Management LLC boosted its position in Shell by 1.7% in the fourth quarter. Fisher Asset Management LLC now owns 24,938,735 shares of the energy company's stock valued at $1,562,412,000 after buying an additional 408,088 shares in the last quarter. Wellington Management Group LLP raised its position in Shell by 3.1% in the 4th quarter. Wellington Management Group LLP now owns 7,982,817 shares of the energy company's stock valued at $500,123,000 after purchasing an additional 238,705 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of Shell by 0.8% during the fourth quarter. Franklin Resources Inc. now owns 6,023,173 shares of the energy company's stock worth $377,352,000 after purchasing an additional 50,228 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in shares of Shell by 20.1% in the fourth quarter. Northern Trust Corp now owns 3,101,330 shares of the energy company's stock valued at $194,298,000 after buying an additional 519,105 shares during the last quarter. 28.60% of the stock is owned by institutional investors.

Shell Stock Down 2.3 %

Shell stock opened at $65.11 on Tuesday. Shell plc has a twelve month low of $58.55 and a twelve month high of $74.61. 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 company has a 50 day moving average of $66.86 and a 200-day moving average of $65.88. The stock has a market capitalization of $195.85 billion, a PE ratio of 12.97, a price-to-earnings-growth ratio of 0.98 and a beta of 0.38.

Shell (NYSE:SHEL - Get Free Report) last released its quarterly 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. Shell had a return on equity of 12.75% and a net margin of 5.57%. The firm 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 firm posted $2.40 EPS. On average, equities research analysts anticipate that Shell plc will post 7.67 EPS for the current fiscal year.

Shell announced that its board has initiated a stock repurchase program on Friday, May 2nd that authorizes the company to buyback $3.50 billion in outstanding shares. This buyback authorization authorizes the energy company to buy up to 1.8% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board believes its stock is undervalued.

Shell Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 23rd. Stockholders of record on Friday, May 16th will be paid 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 4.40%. Shell's dividend payout ratio is 65.90%.

Wall Street Analyst Weigh In

Several research firms have weighed in on SHEL. Morgan Stanley upgraded shares of Shell from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $66.50 to $79.80 in a research report on Tuesday, January 7th. UBS Group raised Shell from a "neutral" rating to a "buy" rating in a report on Wednesday, January 8th. Barclays restated an "overweight" rating on shares of Shell in a research report on Wednesday, March 26th. Wells Fargo & Company lowered their price objective on Shell from $83.00 to $80.00 and set an "overweight" rating for the company in a research report on Monday. Finally, Royal Bank of Canada restated an "outperform" rating on shares of Shell in a research report on Wednesday, March 26th. One equities research analyst has rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $77.35.

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.

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