BTC Capital Management Inc. Buys 2,727 Shares of Shell plc (NYSE:SHEL)

BTC Capital Management Inc. lifted its position in Shell plc (NYSE:SHEL) by 13.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,186 shares of the energy company’s stock after purchasing an additional 2,727 shares during the quarter. BTC Capital Management Inc.’s holdings in Shell were worth $1,446,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Coronation Fund Managers Ltd. boosted its position in Shell by 7.6% during the second quarter. Coronation Fund Managers Ltd. now owns 15,201 shares of the energy company’s stock valued at $1,097,000 after buying an additional 1,068 shares during the period. AQR Capital Management LLC boosted its holdings in Shell by 42.7% during the 2nd quarter. AQR Capital Management LLC now owns 21,701 shares of the energy company’s stock valued at $1,566,000 after acquiring an additional 6,495 shares during the period. The Manufacturers Life Insurance Company increased its stake in Shell by 2.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 17,165 shares of the energy company’s stock worth $1,239,000 after purchasing an additional 337 shares during the period. Truist Financial Corp boosted its stake in shares of Shell by 2.5% during the second quarter. Truist Financial Corp now owns 305,661 shares of the energy company’s stock valued at $22,063,000 after purchasing an additional 7,327 shares during the period. Finally, Clearbridge Investments LLC grew its holdings in shares of Shell by 0.7% in the second quarter. Clearbridge Investments LLC now owns 90,242 shares of the energy company’s stock worth $6,514,000 after purchasing an additional 610 shares during the last quarter. 28.60% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Wolfe Research raised shares of Shell from a “peer perform” rating to an “outperform” rating and set a $80.00 price target on the stock in a report on Friday, January 3rd. Wells Fargo & Company lowered their price target on Shell from $87.00 to $86.00 and set an “overweight” rating for the company in a research report on Friday, January 10th. UBS Group upgraded Shell from a “neutral” rating to a “buy” rating in a research report on Wednesday, January 8th. Morgan Stanley raised Shell from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $66.50 to $79.80 in a research note on Tuesday, January 7th. Finally, Sanford C. Bernstein upgraded shares of Shell to a “strong-buy” rating in a report on Friday, October 11th. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $79.69.

Shell Stock Up 2.8 %

NYSE:SHEL opened at $66.60 on Friday. Shell plc has a 1-year low of $60.15 and a 1-year high of $74.61. The company has a market capitalization of $203.62 billion, a PE ratio of 13.70, a P/E/G ratio of 6.46 and a beta of 0.55. The firm’s 50-day moving average price is $64.18 and its 200-day moving average price is $67.41. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.40 and a quick ratio of 1.13.

Shell (NYSE:SHEL) last released its earnings results on Thursday, January 30th. The energy company reported $1.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.74 by ($0.54). Shell had a net margin of 5.17% and a return on equity of 14.54%. On average, equities analysts predict that Shell plc will post 8.11 EPS for the current fiscal year.

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.