GAMMA Investing LLC Acquires 418,645 Shares of Shell plc (NYSE:SHEL)

GAMMA Investing LLC lifted its position in shares of Shell plc (NYSE:SHEL - Free Report) by 10,193.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 422,752 shares of the energy company's stock after acquiring an additional 418,645 shares during the quarter. GAMMA Investing LLC's holdings in Shell were worth $30,979,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. CoreFirst Bank & Trust acquired a new position in shares of Shell during the fourth quarter worth $28,000. Human Investing LLC acquired a new position in Shell during the 4th quarter worth about $31,000. Transce3nd LLC acquired a new stake in shares of Shell in the fourth quarter valued at about $34,000. Millstone Evans Group LLC bought a new position in shares of Shell during the fourth quarter worth about $36,000. Finally, Summit Securities Group LLC lifted its stake in shares of Shell by 50.0% in the fourth quarter. Summit Securities Group LLC now owns 600 shares of the energy company's stock worth $38,000 after acquiring an additional 200 shares during the period. Institutional investors and hedge funds own 28.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Hsbc Global Res raised shares of Shell to a "strong-buy" rating in a research note on Tuesday, May 13th. TD Securities restated a "buy" rating on shares of Shell in a research report on Friday, April 4th. Piper Sandler boosted their price target on Shell from $72.00 to $80.00 and gave the company an "overweight" rating in a research note on Tuesday, May 13th. Wells Fargo & Company lowered their price objective on shares of Shell from $83.00 to $80.00 and set an "overweight" rating for the company in a research note on Monday, May 5th. Finally, Royal Bank of Canada restated an "outperform" rating on shares of Shell in a report on Wednesday, March 26th. One investment analyst has rated the stock with a hold rating, eleven have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, Shell currently has a consensus rating of "Buy" and an average target price of $78.35.

Shell Stock Up 0.7%

SHEL stock traded up $0.50 during mid-day trading on Friday, reaching $68.03. 2,794,943 shares of the company traded hands, compared to its average volume of 4,297,132. 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 firm's 50 day moving average price is $65.56 and its 200 day moving average price is $65.86. The stock has a market cap of $203.33 billion, a price-to-earnings ratio of 13.55, a P/E/G ratio of 0.98 and a beta of 0.38. Shell plc has a fifty-two week low of $58.55 and a fifty-two week high of $74.46.

Shell (NYSE:SHEL - Get Free Report) last announced 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 return on equity of 12.75% and a net margin of 5.57%. The business 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 company posted $2.40 earnings per share. As a group, equities research analysts predict that Shell plc will post 7.67 EPS for the current fiscal year.

Shell declared that its board has approved a stock buyback program on Friday, May 2nd that permits the company to buyback $3.50 billion in outstanding shares. This buyback authorization permits the energy company to reacquire up to 1.8% of its shares through open market purchases. Shares buyback programs are often an indication that the company's leadership believes its shares are undervalued.

Shell Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 23rd. Investors of record on Friday, May 16th will be given a dividend of $0.716 per share. This represents a $2.86 dividend on an annualized basis and a dividend yield of 4.21%. The ex-dividend date of this dividend is Friday, May 16th. Shell's payout ratio is currently 65.90%.

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.