Shell plc (NYSE:SHEL) Shares Purchased by Avidian Wealth Solutions LLC

Avidian Wealth Solutions LLC increased its holdings in Shell plc (NYSE:SHEL) by 5.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,421 shares of the energy company’s stock after buying an additional 1,281 shares during the quarter. Avidian Wealth Solutions LLC’s holdings in Shell were worth $1,541,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Private Trust Co. NA grew its holdings in shares of Shell by 14.7% in the 4th quarter. Private Trust Co. NA now owns 10,532 shares of the energy company’s stock worth $693,000 after acquiring an additional 1,348 shares during the last quarter. FMR LLC increased its stake in Shell by 29.1% in the 3rd 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 in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Shell by 5.9% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 109,843 shares of the energy company’s stock valued at $7,228,000 after buying an additional 6,138 shares in the last quarter. LPL Financial LLC boosted its holdings in shares of Shell by 11.0% in the third quarter. LPL Financial LLC now owns 633,287 shares of the energy company’s stock worth $40,771,000 after buying an additional 62,792 shares during the period. Finally, Synovus Financial Corp raised its holdings in shares of Shell by 16.2% during the third quarter. Synovus Financial Corp now owns 71,350 shares of the energy company’s stock valued at $4,594,000 after acquiring an additional 9,924 shares during the period. 28.60% of the stock is currently owned by institutional investors.

Shell Price Performance

Shell stock traded up $0.26 during mid-day trading on Friday, hitting $72.37. 4,407,390 shares of the company were exchanged, compared to its average volume of 4,739,239. Shell plc has a 1-year low of $55.78 and a 1-year high of $73.94. The company has a quick ratio of 1.13, a current ratio of 1.40 and a debt-to-equity ratio of 0.38. The business has a fifty day moving average of $68.43 and a 200 day moving average of $66.03. The company has a market capitalization of $232.86 billion, a PE ratio of 13.35, a price-to-earnings-growth ratio of 1.72 and a beta of 0.59.

Shell (NYSE:SHEL) last announced its earnings results on Thursday, February 1st. The energy company reported $2.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.94 by $0.28. The company had revenue of $80.13 billion during the quarter, compared to analyst estimates of $89.59 billion. Shell had a return on equity of 13.78% and a net margin of 5.83%. During the same period last year, the company posted $2.76 earnings per share. As a group, sell-side analysts expect that Shell plc will post 8.22 earnings per share for the current year.

Shell Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 24th. Shareholders of record on Friday, May 17th will be given a dividend of $0.688 per share. This is a boost from Shell’s previous quarterly dividend of $0.66. The ex-dividend date is Thursday, May 16th. This represents a $2.75 annualized dividend and a dividend yield of 3.80%. Shell’s payout ratio is presently 50.74%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on SHEL shares. TD Securities increased their price objective on Shell from $74.00 to $81.00 and gave the stock a “buy” rating in a research note on Friday. TheStreet upgraded shares of Shell from a “c” rating to a “b-” rating in a report on Monday, January 29th. Finally, Wells Fargo & Company increased their target price on shares of Shell from $88.00 to $91.00 and gave the stock an “overweight” rating in a research report on Friday. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $66.50.

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.