Shell plc (NYSE:SHEL) Shares Bought by Tidal Investments LLC

Tidal Investments LLC grew its position in shares of Shell plc (NYSE:SHEL - Free Report) by 114.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 492,747 shares of the energy company's stock after purchasing an additional 262,720 shares during the quarter. Tidal Investments LLC's holdings in Shell were worth $30,871,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. FMR LLC boosted its position 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 Shell by 1.7% in the fourth quarter. Fisher Asset Management LLC now owns 24,938,735 shares of the energy company's stock valued at $1,562,412,000 after purchasing an additional 408,088 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Shell by 3.1% in the fourth quarter. Wellington Management Group LLP now owns 7,982,817 shares of the energy company's stock valued at $500,123,000 after purchasing an additional 238,705 shares in the last quarter. Franklin Resources Inc. grew its position in shares of Shell by 0.8% during the fourth quarter. Franklin Resources Inc. now owns 6,023,173 shares of the energy company's stock worth $377,352,000 after acquiring an additional 50,228 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Shell by 20.1% during the fourth quarter. Northern Trust Corp now owns 3,101,330 shares of the energy company's stock worth $194,298,000 after purchasing an additional 519,105 shares during the period. 28.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on SHEL. Barclays restated an "overweight" rating on shares of Shell in a research report on Wednesday, March 26th. TD Securities restated a "buy" rating on shares of Shell in a report on Friday, April 4th. Royal Bank of Canada restated an "outperform" rating on shares of Shell in a report on Wednesday, March 26th. Scotiabank lowered their price target on Shell from $75.00 to $70.00 and set a "sector outperform" rating for the company in a report on Friday, April 11th. Finally, TD Cowen lowered their price target on Shell from $82.00 to $76.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. One investment analyst has rated the stock with a hold rating, eleven have given a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $78.35.

Shell Stock Down 0.4%

Shell stock traded down $0.24 during midday trading on Wednesday, hitting $66.38. 3,101,772 shares of the company were exchanged, compared to its average volume of 4,297,449. The company's fifty day moving average price is $66.71 and its 200-day moving average price is $65.87. The company has a market cap of $199.68 billion, a PE ratio of 13.22, a price-to-earnings-growth ratio of 0.98 and a beta of 0.38. 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 fifty-two week low of $58.55 and a fifty-two week high of $74.46.

Shell (NYSE:SHEL - Get Free Report) last released its quarterly 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. The firm had revenue of $69.23 billion for 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 period in the previous year, the company posted $2.40 EPS. On average, research analysts predict that Shell plc will post 7.67 EPS for the current fiscal year.

Shell Announces Dividend

The business 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 annualized dividend and a yield of 4.31%. The ex-dividend date of this dividend is Friday, May 16th. Shell's dividend payout ratio (DPR) is presently 65.90%.

Shell declared that its board has approved a stock repurchase program 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 programs are often a sign that the company's board 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.