Congress Wealth Management LLC DE Buys Shares of 5,444 Shell plc (NYSE:SHEL)

Congress Wealth Management LLC DE bought a new stake in shares of Shell plc (NYSE:SHELFree Report) during the fourth quarter, HoldingsChannel reports. The fund bought 5,444 shares of the energy company’s stock, valued at approximately $358,000.

Other large investors have also recently bought and sold shares of the company. FMR LLC boosted its holdings in shares of Shell by 29.1% during the third quarter. FMR LLC now owns 29,087,703 shares of the energy company’s stock worth $1,872,666,000 after purchasing an additional 6,554,340 shares during the last quarter. Fisher Asset Management LLC raised its position in shares of Shell by 2.1% in the 4th quarter. Fisher Asset Management LLC now owns 22,871,131 shares of the energy company’s stock worth $1,504,920,000 after buying an additional 477,432 shares during the period. Morgan Stanley raised its position in Shell by 4.3% in the third quarter. Morgan Stanley now owns 9,356,191 shares of the energy company’s stock valued at $602,352,000 after purchasing an additional 384,967 shares during the period. Wellington Management Group LLP raised its position in Shell by 10.7% in the third quarter. Wellington Management Group LLP now owns 8,742,878 shares of the energy company’s stock valued at $562,866,000 after purchasing an additional 848,104 shares during the period. Finally, Franklin Resources Inc. raised its position in Shell by 2.4% in the fourth quarter. Franklin Resources Inc. now owns 6,173,651 shares of the energy company’s stock valued at $406,226,000 after purchasing an additional 143,910 shares during the period. Institutional investors and hedge funds own 28.60% of the company’s stock.

Shell Price Performance

NYSE SHEL opened at $71.73 on Wednesday. The stock has a market capitalization of $229.20 billion, a P/E ratio of 13.23, a P/E/G ratio of 1.82 and a beta of 0.59. Shell plc has a 1 year low of $55.78 and a 1 year high of $74.61. The business’s fifty day moving average is $71.04 and its two-hundred day moving average is $66.69. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.14 and a current ratio of 1.42.

Shell (NYSE:SHELGet Free Report) last posted its quarterly earnings data on Thursday, May 2nd. The energy company reported $2.38 earnings per share for the quarter, topping the consensus estimate of $1.87 by $0.51. Shell had a net margin of 5.83% and a return on equity of 13.83%. The firm had revenue of $74.70 billion for the quarter, compared to analysts’ expectations of $88.03 billion. On average, research analysts forecast that Shell plc will post 8.37 earnings per share for the current fiscal year.

Shell Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 24th. Stockholders of record on Friday, May 17th will be issued a dividend of $0.688 per share. This is a boost from Shell’s previous quarterly dividend of $0.66. This represents a $2.75 annualized dividend and a dividend yield of 3.84%. The ex-dividend date is Thursday, May 16th. Shell’s payout ratio is currently 50.74%.

Wall Street Analyst Weigh In

Several research firms have commented on SHEL. TD Securities raised their price objective on Shell from $74.00 to $81.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. Wells Fargo & Company lifted their price target on Shell from $88.00 to $91.00 and gave the stock an “overweight” rating in a research note on Friday, May 3rd. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Shell presently has an average rating of “Moderate Buy” and a consensus target price of $66.50.

Get Our Latest Stock Report on SHEL

About Shell

(Free Report)

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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Institutional Ownership by Quarter for Shell (NYSE:SHEL)

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