SteelPeak Wealth LLC Grows Stock Holdings in Shell plc (NYSE:SHEL)

SteelPeak Wealth LLC lifted its position in shares of Shell plc (NYSE:SHEL) by 2.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,815 shares of the energy company’s stock after purchasing an additional 167 shares during the period. SteelPeak Wealth LLC’s holdings in Shell were worth $457,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Breakwater Capital Group acquired a new position in Shell in the first quarter valued at $212,000. Red Door Wealth Management LLC boosted its stake in Shell by 13.2% in the first quarter. Red Door Wealth Management LLC now owns 4,807 shares of the energy company’s stock valued at $322,000 after acquiring an additional 561 shares in the last quarter. Founders Financial Securities LLC acquired a new position in Shell in the first quarter valued at $733,000. Symphony Financial Ltd. Co. acquired a new position in Shell in the first quarter valued at $206,000. Finally, Kathmere Capital Management LLC boosted its stake in Shell by 10.4% in the first quarter. Kathmere Capital Management LLC now owns 3,604 shares of the energy company’s stock valued at $242,000 after acquiring an additional 340 shares in the last quarter. 28.60% of the stock is owned by hedge funds and other institutional investors.

Shell Stock Performance

NYSE SHEL traded up $0.74 during trading hours on Friday, hitting $72.18. 5,230,189 shares of the stock were exchanged, compared to its average volume of 3,385,995. The company has a market cap of $229.51 billion, a price-to-earnings ratio of 13.32, a price-to-earnings-growth ratio of 1.82 and a beta of 0.60. Shell plc has a 12-month low of $58.14 and a 12-month high of $74.61. The stock has a 50-day moving average of $71.51 and a 200 day moving average of $67.59. The company has a quick ratio of 1.14, a current ratio of 1.42 and a debt-to-equity ratio of 0.37.

Shell (NYSE:SHEL) last posted its quarterly earnings results on Thursday, May 2nd. The energy company reported $2.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.87 by $0.51. The firm had revenue of $74.70 billion during the quarter, compared to analysts’ expectations of $88.03 billion. Shell had a net margin of 5.83% and a return on equity of 13.83%. As a group, equities research analysts forecast that Shell plc will post 8.55 earnings per share for the current year.

Shell Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 24th. Shareholders of record on Friday, May 17th were issued a $0.688 dividend. The ex-dividend date was Thursday, May 16th. This is a boost from Shell’s previous quarterly dividend of $0.66. This represents a $2.75 dividend on an annualized basis and a yield of 3.81%. Shell’s dividend payout ratio (DPR) is 50.74%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Wells Fargo & Company decreased their target price on shares of Shell from $91.00 to $90.00 and set an “overweight” rating for the company in a research note on Friday, June 21st. 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 note on Friday, May 3rd. Finally, Argus increased their target price on shares of Shell from $77.00 to $79.00 and gave the stock a “buy” rating in a research note on Thursday, June 6th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Shell has an average rating of “Moderate Buy” and an average target price of $69.25.

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.