MidWestOne Financial Group Inc. Purchases 14,123 Shares of Shell plc (NYSE:SHEL)

MidWestOne Financial Group Inc. raised its position in shares of Shell plc (NYSE:SHEL - Free Report) by 126.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 25,266 shares of the energy company's stock after purchasing an additional 14,123 shares during the quarter. MidWestOne Financial Group Inc.'s holdings in Shell were worth $1,583,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. FMR LLC boosted its holdings 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 acquiring an additional 21,118,234 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in shares of Shell by 1.7% during the 4th quarter. Fisher Asset Management LLC now owns 24,938,735 shares of the energy company's stock valued at $1,562,412,000 after acquiring an additional 408,088 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Shell by 3.1% during 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 acquiring an additional 238,705 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of Shell by 0.8% during the 4th quarter. Franklin Resources Inc. now owns 6,023,173 shares of the energy company's stock valued at $377,352,000 after acquiring an additional 50,228 shares during the last quarter. Finally, Voloridge Investment Management LLC boosted its holdings in shares of Shell by 170.3% during the 4th quarter. Voloridge Investment Management LLC now owns 3,463,372 shares of the energy company's stock valued at $216,980,000 after acquiring an additional 2,182,253 shares during the last quarter. 28.60% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Barclays reaffirmed an "overweight" rating on shares of Shell in a report on Wednesday, March 26th. Hsbc Global Res raised shares of Shell to a "strong-buy" rating in a report on Tuesday, May 13th. Piper Sandler raised 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. Royal Bank of Canada reissued an "outperform" rating on shares of Shell in a report on Wednesday, March 26th. Finally, 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 report on Friday, April 11th. One investment 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 company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $78.35.

Shell Price Performance

Shares of NYSE:SHEL opened at $66.59 on Wednesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.35 and a quick ratio of 1.10. Shell plc has a 1-year low of $58.55 and a 1-year high of $74.46. The company has a market capitalization of $200.31 billion, a P/E ratio of 13.26, a P/E/G ratio of 0.98 and a beta of 0.38. The firm's 50 day simple moving average is $66.76 and its two-hundred day simple moving average is $65.87.

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 for the quarter, beating 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 business had revenue of $69.23 billion for the quarter, compared to the consensus estimate of $79.18 billion. During the same quarter in the previous year, the firm earned $2.40 earnings per share. Research analysts expect that Shell plc will post 7.67 EPS for the current fiscal year.

Shell Announces Dividend

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

Shell announced that its board has initiated a stock repurchase plan 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 plans are usually an indication that the company's board of directors believes its stock is undervalued.

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.

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