Net Worth Advisory Group Sells 480 Shares of Shell plc (NYSE:SHEL)

Net Worth Advisory Group reduced its position in shares of Shell plc (NYSE:SHEL) by 5.9% in the 1st quarter, Holdings Channel reports. The firm owned 7,699 shares of the energy company’s stock after selling 480 shares during the period. Net Worth Advisory Group’s holdings in Shell were worth $564,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FMR LLC raised its holdings in shares of Shell by 32.3% during the 4th quarter. FMR LLC now owns 86,417,177 shares of the energy company’s stock worth $5,414,036,000 after buying an additional 21,118,234 shares in the last quarter. Voloridge Investment Management LLC raised its stake in Shell by 170.3% during the fourth quarter. Voloridge Investment Management LLC now owns 3,463,372 shares of the energy company’s stock worth $216,980,000 after acquiring an additional 2,182,253 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Shell in the fourth quarter worth about $91,716,000. Freestone Grove Partners LP bought a new stake in shares of Shell during the 4th quarter valued at approximately $83,204,000. Finally, Merewether Investment Management LP increased its position in Shell by 46.5% during the 4th quarter. Merewether Investment Management LP now owns 2,262,997 shares of the energy company’s stock worth $141,777,000 after purchasing an additional 718,233 shares in the last quarter. 28.60% of the stock is currently owned by institutional investors.

Shell Stock Up 1.3%

Shares of Shell stock opened at $70.97 on Thursday. The stock’s 50-day moving average is $65.51 and its 200 day moving average is $65.95. Shell plc has a one year low of $58.55 and a one year high of $74.46. The firm has a market cap of $212.10 billion, a price-to-earnings ratio of 14.14, a PEG ratio of 0.98 and a beta of 0.39. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.35 and a quick ratio of 1.10.

Shell (NYSE:SHEL) last announced its quarterly earnings data on Friday, May 2nd. The energy company reported $1.84 EPS for the quarter, topping the consensus estimate of $1.54 by $0.30. The company had revenue of $69.23 billion during the quarter, compared to the consensus estimate of $79.18 billion. Shell had a net margin of 5.57% and a return on equity of 12.75%. During the same quarter last year, the firm posted $2.40 EPS. Equities research analysts anticipate that Shell plc will post 7.67 EPS for the current year.

Shell declared that its Board of Directors has initiated a stock repurchase program on Friday, May 2nd that permits the company to repurchase $3.50 billion in outstanding shares. This repurchase authorization permits the energy company to buy up to 1.8% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

Shell Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 23rd. Stockholders of record on Friday, May 16th will be paid a $0.716 dividend. The ex-dividend date is Friday, May 16th. This represents a $2.86 annualized dividend and a dividend yield of 4.04%. Shell’s dividend payout ratio is presently 65.90%.

Analyst Upgrades and Downgrades

SHEL has been the topic of a number of research reports. Hsbc Global Res raised shares of Shell to a “strong-buy” rating in a research note on Tuesday, May 13th. Wells Fargo & Company lowered their target price on Shell from $83.00 to $80.00 and set an “overweight” rating for the company in a report on Monday, May 5th. Barclays reissued an “overweight” rating on shares of Shell in a research note on Wednesday, March 26th. Royal Bank of Canada reiterated an “outperform” rating on shares of Shell in a report on Wednesday, March 26th. Finally, Piper Sandler upped their price target on shares of Shell from $72.00 to $80.00 and gave the company an “overweight” rating in a research report on Tuesday, May 13th. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $78.26.

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.