Strategic Wealth Partners Ltd. Sells 16,269 Shares of Shell plc (NYSE:SHEL)

Strategic Wealth Partners Ltd. lessened its holdings in Shell plc (NYSE:SHEL - Free Report) by 68.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,634 shares of the energy company's stock after selling 16,269 shares during the quarter. Strategic Wealth Partners Ltd.'s holdings in Shell were worth $514,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of SHEL. FMR LLC boosted its stake in Shell by 32.3% during the 4th quarter. FMR LLC now owns 86,417,177 shares of the energy company's stock worth $5,414,036,000 after acquiring an additional 21,118,234 shares during the last quarter. Raymond James Financial Inc. bought a new position in Shell during the 4th quarter worth approximately $91,716,000. Freestone Grove Partners LP bought a new position in Shell during the 4th quarter worth approximately $83,204,000. Merewether Investment Management LP boosted its stake in Shell by 46.5% during the 4th quarter. Merewether Investment Management LP now owns 2,262,997 shares of the energy company's stock worth $141,777,000 after acquiring an additional 718,233 shares during the last quarter. Finally, Bridgewater Associates LP boosted its stake in Shell by 523.9% during the 4th quarter. Bridgewater Associates LP now owns 831,000 shares of the energy company's stock worth $52,062,000 after acquiring an additional 697,806 shares during the last quarter. Institutional investors own 28.60% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Wells Fargo & Company reduced their price objective on shares of Shell from $83.00 to $80.00 and set an "overweight" rating on the stock in a research note on Monday, May 5th. Royal Bank of Canada reaffirmed an "outperform" rating on shares of Shell in a research note on Wednesday, March 26th. Hsbc Global Res raised shares of Shell to a "strong-buy" rating in a research note on Tuesday, May 13th. Piper Sandler lifted their price target on shares of Shell from $72.00 to $80.00 and gave the company an "overweight" rating in a research note on Tuesday, May 13th. Finally, Barclays reaffirmed an "overweight" rating on shares of Shell in a research note on Wednesday, March 26th. One 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 company. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $78.35.

Shell Price Performance

NYSE SHEL opened at $66.57 on Monday. The company has a quick ratio of 1.10, a current ratio of 1.35 and a debt-to-equity ratio of 0.36. Shell plc has a 12-month low of $58.55 and a 12-month high of $74.46. The company has a market capitalization of $200.26 billion, a PE ratio of 13.26, a price-to-earnings-growth ratio of 0.98 and a beta of 0.38. The firm's 50 day moving average is $66.80 and its 200-day moving average is $65.87.

Shell (NYSE:SHEL - Get Free Report) last posted its quarterly earnings data on Friday, May 2nd. The energy company reported $1.84 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 last year, the company earned $2.40 earnings per share. Equities research analysts anticipate that Shell plc will post 7.67 earnings per share for the current fiscal 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 issued a dividend of $0.716 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $2.86 dividend on an annualized basis and a yield of 4.30%. Shell's payout ratio is 65.90%.

Shell declared that its Board of Directors has authorized a share 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 repurchase up to 1.8% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's management believes its shares are undervalued.

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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