Confluence Investment Management LLC Purchases Shares of 14,803 Shell plc (NYSE:SHEL)

Confluence Investment Management LLC bought a new stake in shares of Shell plc (NYSE:SHEL) during the 1st quarter, HoldingsChannel.com reports. The fund bought 14,803 shares of the energy company’s stock, valued at approximately $992,000.

Several other institutional investors have also bought and sold shares of SHEL. Jones Financial Companies Lllp raised its holdings in shares of Shell by 5.9% in the fourth quarter. Jones Financial Companies Lllp now owns 2,907 shares of the energy company’s stock valued at $191,000 after purchasing an additional 161 shares during the last quarter. Founders Capital Management lifted its position in shares of Shell by 25.4% during the 4th quarter. Founders Capital Management now owns 830 shares of the energy company’s stock worth $55,000 after buying an additional 168 shares in the last quarter. Abacus Planning Group Inc. grew its holdings in shares of Shell by 3.5% in the fourth quarter. Abacus Planning Group Inc. now owns 5,003 shares of the energy company’s stock valued at $329,000 after acquiring an additional 169 shares in the last quarter. Roberts Wealth Advisors LLC lifted its holdings in Shell by 0.7% during the fourth quarter. Roberts Wealth Advisors LLC now owns 26,574 shares of the energy company’s stock worth $1,749,000 after acquiring an additional 172 shares during the period. Finally, ETF Store Inc. increased its position in shares of Shell by 1.5% during the 4th quarter. ETF Store Inc. now owns 11,762 shares of the energy company’s stock valued at $774,000 after purchasing an additional 174 shares during the last quarter. Institutional investors own 28.60% of the company’s stock.

Wall Street Analyst Weigh In

SHEL has been the subject of a number of research analyst reports. Argus raised their price objective on shares of Shell from $77.00 to $79.00 and gave the stock a “buy” rating in a report on Thursday, June 6th. Wells Fargo & Company boosted their target price on Shell from $88.00 to $91.00 and gave the company an “overweight” rating in a research note on Friday, May 3rd. Finally, TD Securities increased their target price on shares of Shell from $74.00 to $81.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.50.

Shell Price Performance

Shares of SHEL stock traded up $0.48 during trading hours on Tuesday, reaching $69.63. The stock had a trading volume of 2,480,256 shares, compared to its average volume of 4,415,817. Shell plc has a 12 month low of $58.14 and a 12 month high of $74.61. The stock’s fifty day simple moving average is $71.72 and its 200 day simple moving average is $67.17. The company has a current ratio of 1.42, a quick ratio of 1.14 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $221.41 billion, a PE ratio of 12.88, a PEG ratio of 1.77 and a beta of 0.60.

Shell (NYSE:SHEL) last announced its earnings results on Thursday, May 2nd. The energy company reported $2.38 earnings per share for the quarter, beating analysts’ consensus estimates of $1.87 by $0.51. The business had revenue of $74.70 billion for the quarter, compared to the consensus estimate of $88.03 billion. Shell had a net margin of 5.83% and a return on equity of 13.83%. On average, equities research analysts predict that Shell plc will post 8.37 EPS for the current year.

Shell Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 24th. Shareholders of record on Friday, May 17th will be paid a $0.688 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.75 annualized dividend and a yield of 3.95%. This is a positive change from Shell’s previous quarterly dividend of $0.66. Shell’s dividend payout ratio is currently 50.74%.

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.