Forum Financial Management LP Acquires 9,028 Shares of Shell plc (NYSE:SHEL)

Forum Financial Management LP boosted its position in Shell plc (NYSE:SHEL - Free Report) by 28.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 40,916 shares of the energy company's stock after acquiring 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 also recently made changes to their positions in the stock. FMR LLC grew its stake in shares of Shell by 32.3% during the 4th quarter. FMR LLC now owns 86,417,177 shares of the energy company's stock valued at $5,414,036,000 after buying an additional 21,118,234 shares during the period. Fisher Asset Management LLC boosted its position in Shell by 1.7% during 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 during the period. Wellington Management Group LLP boosted its position in Shell by 3.1% during the 4th quarter. Wellington Management Group LLP now owns 7,982,817 shares of the energy company's stock worth $500,123,000 after purchasing an additional 238,705 shares during the period. Franklin Resources Inc. boosted its position in Shell by 0.8% during the 4th 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 period. Finally, Voloridge Investment Management LLC boosted its position in Shell by 170.3% during the 4th quarter. Voloridge Investment Management LLC now owns 3,463,372 shares of the energy company's stock worth $216,980,000 after purchasing an additional 2,182,253 shares during the period. 28.60% of the stock is owned by hedge funds and other institutional investors.

Shell Trading Up 0.4%

NYSE:SHEL traded up $0.29 on Thursday, reaching $66.33. 1,943,506 shares of the stock traded hands, compared to its average volume of 4,289,915. The firm has a market capitalization of $199.54 billion, a price-to-earnings ratio of 13.22, a price-to-earnings-growth ratio of 0.98 and a beta of 0.38. Shell plc has a 1-year low of $58.55 and a 1-year high of $74.46. The company's 50 day moving average is $66.22 and its 200-day moving average is $65.81. The company has a current ratio of 1.35, a quick ratio of 1.10 and a debt-to-equity ratio of 0.36.

Shell (NYSE:SHEL - Get Free Report) last announced its quarterly earnings data on Friday, May 2nd. The energy company reported $1.84 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.30. The company had revenue of $69.23 billion during the quarter, compared to analyst estimates 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 firm posted $2.40 EPS. Equities research analysts anticipate that Shell plc will post 7.67 EPS for the current fiscal year.

Shell announced that its Board of Directors has approved a share repurchase program on Friday, May 2nd that authorizes the company to repurchase $3.50 billion in shares. This repurchase authorization authorizes the energy company to buy up to 1.8% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's leadership believes its stock is undervalued.

Shell Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 23rd. Shareholders of record on Friday, May 16th will be issued a $0.716 dividend. This represents a $2.86 annualized dividend and a yield of 4.32%. The ex-dividend date of this dividend is Friday, May 16th. Shell's dividend payout ratio (DPR) is 65.90%.

Wall Street Analyst Weigh In

A number of brokerages have commented on SHEL. Hsbc Global Res upgraded shares of Shell to a "strong-buy" rating in a report on Tuesday, May 13th. Royal Bank of Canada reiterated an "outperform" rating on shares of Shell in a report on Wednesday, March 26th. Wells Fargo & Company reduced their price target on shares of Shell from $83.00 to $80.00 and set an "overweight" rating for the company in a research report on Monday, May 5th. Piper Sandler upped 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, TD Securities restated a "buy" rating on shares of Shell in a research note on Friday, April 4th. One equities research analyst has rated the stock with a hold rating, eleven have issued a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $78.35.

About Shell

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.