Forum Financial Management LP Raises Stock Position in Shell plc (NYSE:SHEL)

Forum Financial Management LP lifted its holdings in Shell plc (NYSE:SHEL - Free Report) by 28.3% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 40,916 shares of the energy company's stock after buying an additional 9,028 shares during the period. Forum Financial Management LP's holdings in Shell were worth $2,563,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of SHEL. Merit Financial Group LLC bought a new position in shares of Shell during the fourth quarter valued at approximately $360,000. Nisa Investment Advisors LLC raised its position in shares of Shell by 10.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 2,139 shares of the energy company's stock valued at $134,000 after buying an additional 200 shares in the last quarter. Janney Montgomery Scott LLC grew its holdings in Shell by 0.9% during the 4th quarter. Janney Montgomery Scott LLC now owns 142,445 shares of the energy company's stock valued at $8,924,000 after purchasing an additional 1,331 shares during the last quarter. Hedges Asset Management LLC boosted its stake in shares of Shell by 0.6% during the fourth quarter. Hedges Asset Management LLC now owns 72,750 shares of the energy company's stock valued at $4,558,000 after purchasing an additional 400 shares in the last quarter. Finally, Montecito Bank & Trust boosted its stake in shares of Shell by 29.1% during the fourth quarter. Montecito Bank & Trust now owns 3,995 shares of the energy company's stock valued at $250,000 after purchasing an additional 900 shares in the last quarter. Hedge funds and other institutional investors own 28.60% of the company's stock.

Wall Street Analysts Forecast Growth

SHEL has been the topic of several analyst reports. Piper Sandler raised their price target on shares of Shell from $72.00 to $80.00 and gave the company an "overweight" rating in a research report on Tuesday, May 13th. Scotiabank dropped their price objective on shares of Shell from $75.00 to $70.00 and set a "sector outperform" rating on the stock in a research report on Friday, April 11th. Royal Bank of Canada reiterated an "outperform" rating on shares of Shell in a research note on Wednesday, March 26th. Hsbc Global Res upgraded shares of Shell to a "strong-buy" rating in a research report on Tuesday, May 13th. Finally, Barclays reaffirmed an "overweight" rating on shares of Shell in a research note on Wednesday, March 26th. One research analyst has rated the stock with a hold rating, eleven have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $78.35.

Shell Stock Up 0.5%

NYSE SHEL traded up $0.35 on Tuesday, reaching $66.65. The company had a trading volume of 2,774,668 shares, compared to its average volume of 4,299,207. Shell plc has a 52-week low of $58.55 and a 52-week high of $74.46. The stock has a market capitalization of $200.49 billion, a P/E ratio of 13.28, a P/E/G ratio of 0.98 and a beta of 0.38. The company's fifty day moving average is $66.32 and its 200 day moving average is $65.81. 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 (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, beating analysts' consensus estimates of $1.54 by $0.30. The firm had revenue of $69.23 billion during the quarter, compared to the consensus estimate of $79.18 billion. Shell had a return on equity of 12.75% and a net margin of 5.57%. During the same quarter last year, the company posted $2.40 EPS. Sell-side analysts anticipate that Shell plc will post 7.67 earnings per share for the current fiscal year.

Shell Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 23rd. Shareholders of record on Friday, May 16th will be given a $0.716 dividend. This represents a $2.86 dividend on an annualized basis and a yield of 4.30%. The ex-dividend date of this dividend is Friday, May 16th. Shell's payout ratio is 65.90%.

Shell announced that its Board of Directors has initiated a share buyback plan on Friday, May 2nd that authorizes the company to buyback $3.50 billion in shares. This buyback authorization authorizes the energy company to purchase up to 1.8% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's management believes its shares are undervalued.

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.