Portside Wealth Group LLC Has $2.59 Million Stock Holdings in Shell plc (NYSE:SHEL)

Portside Wealth Group LLC lifted its position in shares of Shell plc (NYSE:SHEL - Free Report) by 29.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 35,360 shares of the energy company's stock after purchasing an additional 8,130 shares during the period. Portside Wealth Group LLC's holdings in Shell were worth $2,591,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Abacus Planning Group Inc. increased its stake in shares of Shell by 4.7% during the 1st quarter. Abacus Planning Group Inc. now owns 5,263 shares of the energy company's stock worth $386,000 after purchasing an additional 235 shares during the last quarter. Capital Investment Advisors LLC increased its stake in shares of Shell by 1.9% during the 1st quarter. Capital Investment Advisors LLC now owns 11,229 shares of the energy company's stock worth $823,000 after purchasing an additional 214 shares during the last quarter. Kennebec Savings Bank acquired a new position in Shell in the 1st quarter valued at about $25,000. RDA Financial Network grew its stake in Shell by 14.5% in the 1st quarter. RDA Financial Network now owns 4,437 shares of the energy company's stock valued at $325,000 after buying an additional 562 shares during the last quarter. Finally, Wedmont Private Capital grew its stake in Shell by 3.4% in the 1st quarter. Wedmont Private Capital now owns 11,296 shares of the energy company's stock valued at $828,000 after buying an additional 376 shares during the last quarter. 28.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have issued reports on SHEL. Scotiabank cut their price objective on shares of Shell from $75.00 to $70.00 and set a "sector outperform" rating for the company in a report on Friday, April 11th. TD Securities reissued a "buy" rating on shares of Shell in a research note on Friday, April 4th. Barclays reissued an "overweight" rating on shares of Shell in a research note on Wednesday, March 26th. Wells Fargo & Company decreased 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. Finally, TD Cowen decreased their price target on shares of Shell from $82.00 to $76.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. One analyst has rated the stock with a hold rating, ten have given a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat, Shell currently has an average rating of "Buy" and an average price target of $78.26.

Shell Trading Up 0.7%

NYSE:SHEL opened at $68.03 on Monday. The company has a current ratio of 1.35, a quick ratio of 1.10 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $203.33 billion, a price-to-earnings ratio of 13.55, a PEG ratio of 0.98 and a beta of 0.39. The firm has a fifty day simple moving average of $65.46 and a two-hundred day simple moving average of $65.87. Shell plc has a 12 month low of $58.55 and a 12 month high of $74.46.

Shell (NYSE:SHEL - Get Free Report) last posted its quarterly earnings results on Friday, May 2nd. The energy company reported $1.84 EPS for the quarter, topping analysts' consensus estimates of $1.54 by $0.30. The business had revenue of $69.23 billion during the quarter, compared to analysts' expectations of $79.18 billion. Shell had a net margin of 5.57% and a return on equity of 12.75%. During the same period last year, the company posted $2.40 earnings per share. Analysts expect that Shell plc will post 7.67 EPS for the current fiscal year.

Shell declared that its board has authorized a share repurchase plan on Friday, May 2nd that allows the company to repurchase $3.50 billion in outstanding shares. This repurchase authorization allows the energy company to repurchase up to 1.8% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's management believes its shares are undervalued.

Shell Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 23rd. Shareholders of record on Friday, May 16th will be paid a $0.716 dividend. 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 dividend payout ratio (DPR) is 65.90%.

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.

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