Range Financial Group LLC Takes Position in Shell plc (NYSE:SHEL)

Range Financial Group LLC purchased a new stake in Shell plc (NYSE:SHEL - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 24,362 shares of the energy company's stock, valued at approximately $1,785,000.

Several other hedge funds and other institutional investors also recently modified their holdings of SHEL. Kennebec Savings Bank bought a new stake in shares of Shell in the first quarter valued at approximately $25,000. CoreFirst Bank & Trust purchased a new position in Shell during the fourth quarter valued at approximately $28,000. Human Investing LLC purchased a new position in Shell during the fourth quarter valued at approximately $31,000. Transce3nd LLC purchased a new position in Shell during the fourth quarter valued at approximately $34,000. Finally, Millstone Evans Group LLC purchased a new position in Shell during the fourth quarter valued at approximately $36,000. Institutional investors own 28.60% of the company's stock.

Shell Trading Up 0.7%

Shares of SHEL opened at $68.03 on Monday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.10 and a current ratio of 1.35. Shell plc has a fifty-two week low of $58.55 and a fifty-two week high of $74.46. The firm has a 50 day moving average price of $65.46 and a 200-day moving average price of $65.87. The firm has a market cap of $203.33 billion, a price-to-earnings ratio of 13.55, a PEG ratio of 0.98 and a beta of 0.39.

Shell (NYSE:SHEL - Get Free Report) last issued its earnings results on Friday, May 2nd. The energy company reported $1.84 EPS for the quarter, topping 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 company had revenue of $69.23 billion for the quarter, compared to the consensus estimate of $79.18 billion. During the same period in the previous year, the firm earned $2.40 earnings per share. As a group, equities research analysts forecast that Shell plc will post 7.67 earnings per share for the current year.

Shell Announces Dividend

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

Shell declared 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 outstanding 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 generally an indication that the company's management believes its shares are undervalued.

Wall Street Analyst Weigh In

Several brokerages recently commented on SHEL. TD Securities reaffirmed a "buy" rating on shares of Shell in a research note on Friday, April 4th. Wells Fargo & Company dropped their target price 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. Hsbc Global Res upgraded shares of Shell to a "strong-buy" rating in a research report on Tuesday, May 13th. Piper Sandler lifted their target price 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. Finally, Barclays reiterated an "overweight" rating on shares of Shell in a research report on Wednesday, March 26th. One research analyst has rated the stock with a hold rating, ten have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, Shell presently has an average rating of "Buy" and a consensus target price of $78.26.

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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