Manchester Capital Management LLC Boosts Stake in Shell plc (NYSE:SHEL)

Manchester Capital Management LLC lifted its holdings in Shell plc (NYSE:SHEL) by 50,400.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,010 shares of the energy company’s stock after buying an additional 1,008 shares during the quarter. Manchester Capital Management LLC’s holdings in Shell were worth $63,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. FMR LLC boosted its position in Shell by 5.2% during the third quarter. FMR LLC now owns 65,298,943 shares of the energy company’s stock worth $4,306,465,000 after purchasing an additional 3,255,347 shares in the last quarter. Fisher Asset Management LLC boosted its position in Shell by 2.1% during the third quarter. Fisher Asset Management LLC now owns 24,530,647 shares of the energy company’s stock worth $1,617,796,000 after purchasing an additional 507,311 shares in the last quarter. Franklin Resources Inc. boosted its position in Shell by 0.9% during the third quarter. Franklin Resources Inc. now owns 5,972,945 shares of the energy company’s stock worth $408,430,000 after purchasing an additional 55,637 shares in the last quarter. Mawer Investment Management Ltd. boosted its position in Shell by 8.7% during the third quarter. Mawer Investment Management Ltd. now owns 5,282,868 shares of the energy company’s stock worth $348,405,000 after purchasing an additional 422,329 shares in the last quarter. Finally, Holocene Advisors LP boosted its position in Shell by 29.8% during the third quarter. Holocene Advisors LP now owns 3,773,617 shares of the energy company’s stock worth $248,870,000 after purchasing an additional 866,954 shares in the last quarter. 28.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SHEL. UBS Group upgraded Shell from a “neutral” rating to a “buy” rating in a research report on Wednesday, January 8th. Piper Sandler decreased their target price on Shell from $82.00 to $72.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Wells Fargo & Company cut their price target on Shell from $86.00 to $82.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Wolfe Research raised Shell from a “peer perform” rating to an “outperform” rating and set a $80.00 price target for the company in a report on Friday, January 3rd. Finally, Morgan Stanley raised Shell from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $66.50 to $79.80 in a report on Tuesday, January 7th. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Shell has an average rating of “Buy” and a consensus target price of $79.11.

Shell Stock Performance

Shell stock opened at $67.16 on Friday. The firm has a market capitalization of $205.33 billion, a P/E ratio of 13.38, a PEG ratio of 0.98 and a beta of 0.54. The company has a current ratio of 1.35, a quick ratio of 1.10 and a debt-to-equity ratio of 0.36. The stock has a fifty day moving average price of $64.56 and a 200 day moving average price of $66.93. Shell plc has a 52 week low of $60.15 and a 52 week high of $74.61.

Shell (NYSE:SHEL) last issued its earnings results on Thursday, January 30th. The energy company reported $1.20 EPS for the quarter, missing the consensus estimate of $1.74 by ($0.54). Shell had a return on equity of 12.75% and a net margin of 5.57%. Equities research analysts anticipate that Shell plc will post 7.46 earnings per share for the current year.

Shell Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Friday, February 14th will be given a $0.716 dividend. This is a positive change from Shell’s previous quarterly dividend of $0.69. The ex-dividend date is Friday, February 14th. This represents a $2.86 annualized dividend and a dividend yield of 4.26%. Shell’s dividend payout ratio (DPR) is presently 56.97%.

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.