35,986 Shares in Shell plc (NYSE:SHEL) Bought by Forefront Wealth Management Inc.

Forefront Wealth Management Inc. acquired a new stake in Shell plc (NYSE:SHEL - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 35,986 shares of the energy company's stock, valued at approximately $2,255,000. Shell comprises about 2.1% of Forefront Wealth Management Inc.'s portfolio, making the stock its 20th biggest holding.

Several other institutional investors and hedge funds have also modified their holdings of the business. Valley National Advisers Inc. boosted its position in Shell by 930.2% during the 4th quarter. Valley National Advisers Inc. now owns 443 shares of the energy company's stock worth $27,000 after buying an additional 400 shares during the period. Human Investing LLC acquired a new stake in shares of Shell in the fourth quarter valued at about $31,000. Brooklyn Investment Group acquired a new stake in Shell during the 3rd quarter valued at approximately $35,000. Millstone Evans Group LLC acquired a new position in shares of Shell in the 4th quarter worth approximately $36,000. Finally, Sierra Ocean LLC bought a new position in Shell during the fourth quarter worth $39,000. 28.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

SHEL has been the topic of a number of recent analyst reports. Wolfe Research raised Shell from a "peer perform" rating to an "outperform" rating and set a $80.00 price objective on the stock in a research note on Friday, January 3rd. Piper Sandler cut their price target on Shell from $82.00 to $72.00 and set an "overweight" rating on the stock in a report on Thursday, December 19th. TD Securities boosted their target price on shares of Shell from $81.00 to $82.00 and gave the company a "buy" rating in a research report on Wednesday, March 19th. UBS Group upgraded shares of Shell from a "neutral" rating to a "buy" rating in a report on Wednesday, January 8th. Finally, Morgan Stanley raised shares of Shell from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $66.50 to $79.80 in a research report on Tuesday, January 7th. One research analyst has rated the stock with a hold rating, nine have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, Shell has an average rating of "Buy" and a consensus target price of $80.10.

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Shell Stock Up 1.3 %

Shares of NYSE:SHEL traded up $0.97 during mid-day trading on Wednesday, hitting $73.00. 8,161,003 shares of the company traded hands, compared to its average volume of 4,001,344. The stock has a market cap of $220.73 billion, a P/E ratio of 14.54, a P/E/G ratio of 0.98 and a beta of 0.47. The stock has a 50-day moving average price of $67.29 and a two-hundred day moving average price of $66.28. Shell plc has a 12-month low of $60.15 and a 12-month high of $74.61. The company has a current ratio of 1.35, a quick ratio of 1.10 and a debt-to-equity ratio of 0.36.

Shell (NYSE:SHEL - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The energy company reported $1.20 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.74 by ($0.54). Shell had a return on equity of 12.75% and a net margin of 5.57%. On average, equities research analysts forecast that Shell plc will post 7.67 earnings per share for the current year.

Shell Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Friday, February 14th were paid a dividend of $0.716 per share. This is an increase from Shell's previous quarterly dividend of $0.69. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.86 annualized dividend and a dividend yield of 3.92%. Shell's dividend payout ratio is presently 56.97%.

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.