Daymark Wealth Partners LLC Sells 9,981 Shares of Shell plc (NYSE:SHEL)

Daymark Wealth Partners LLC decreased its stake in shares of Shell plc (NYSE:SHEL - Free Report) by 50.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 9,955 shares of the energy company's stock after selling 9,981 shares during the quarter. Daymark Wealth Partners LLC's holdings in Shell were worth $729,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. FMR LLC grew its stake in Shell by 32.3% in 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 lifted its holdings in shares of Shell by 1.7% in the 4th quarter. Fisher Asset Management LLC now owns 24,938,735 shares of the energy company's stock worth $1,562,412,000 after purchasing an additional 408,088 shares in the last quarter. Wellington Management Group LLP grew 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 period. Franklin Resources Inc. raised its holdings in 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 buying an additional 50,228 shares during the last quarter. Finally, Voloridge Investment Management LLC increased its position in shares of Shell by 170.3% during the fourth quarter. Voloridge Investment Management LLC now owns 3,463,372 shares of the energy company's stock worth $216,980,000 after acquiring an additional 2,182,253 shares in the last quarter. Institutional investors own 28.60% of the company's stock.

Shell Stock Performance

NYSE SHEL traded up $0.92 during trading hours on Wednesday, reaching $70.97. 3,904,834 shares of the company were exchanged, compared to its average volume of 4,309,630. The stock has a market capitalization of $212.10 billion, a P/E ratio of 14.14, a P/E/G ratio of 0.98 and a beta of 0.39. The company has a quick ratio of 1.10, a current ratio of 1.35 and a debt-to-equity ratio of 0.36. Shell plc has a 1 year low of $58.55 and a 1 year high of $74.46. The business's 50 day simple moving average is $65.37 and its 200-day simple moving average is $65.92.

Shell (NYSE:SHEL - Get Free Report) last issued its quarterly earnings results on Friday, May 2nd. The energy company reported $1.84 earnings per share (EPS) 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 company had revenue of $69.23 billion during the quarter, compared to analyst estimates of $79.18 billion. During the same quarter last year, the business posted $2.40 EPS. On average, equities research analysts expect that Shell plc will post 7.67 earnings per share for the current 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 paid a dividend of $0.716 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $2.86 annualized dividend and a dividend yield of 4.04%. Shell's payout ratio is 65.90%.

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

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Royal Bank of Canada reaffirmed an "outperform" rating on shares of Shell in a research report on Wednesday, March 26th. Hsbc Global Res upgraded Shell to a "strong-buy" rating in a report on Tuesday, May 13th. Barclays reiterated an "overweight" rating on shares of Shell in a report on Wednesday, March 26th. Piper Sandler lifted their price objective on shares of Shell from $72.00 to $80.00 and gave the stock an "overweight" rating in a report on Tuesday, May 13th. Finally, Wells Fargo & Company lowered their target price on shares of Shell from $83.00 to $80.00 and set an "overweight" rating for the company in a report on Monday, May 5th. One analyst has rated the stock with a hold rating, ten have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $78.26.

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.