Holderness Investments Co. Invests $230,000 in Shell plc (NYSE:SHEL)

Holderness Investments Co. acquired a new stake in shares of Shell plc (NYSE:SHEL - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,679 shares of the energy company's stock, valued at approximately $230,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of SHEL. FMR LLC lifted its position in Shell by 5.2% during the 3rd quarter. FMR LLC now owns 65,298,943 shares of the energy company's stock worth $4,306,465,000 after acquiring an additional 3,255,347 shares during the period. Fisher Asset Management LLC lifted its holdings in shares of Shell by 1.7% during the fourth quarter. Fisher Asset Management LLC now owns 24,938,735 shares of the energy company's stock worth $1,562,412,000 after purchasing an additional 408,088 shares during the period. Franklin Resources Inc. increased its holdings in Shell by 0.9% in the 3rd quarter. Franklin Resources Inc. now owns 5,972,945 shares of the energy company's stock worth $408,430,000 after buying an additional 55,637 shares during the period. Holocene Advisors LP raised its position in Shell by 29.8% during the 3rd quarter. Holocene Advisors LP now owns 3,773,617 shares of the energy company's stock worth $248,870,000 after buying an additional 866,954 shares during the last quarter. Finally, Rockefeller Capital Management L.P. lifted its stake in Shell by 1.5% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 3,125,284 shares of the energy company's stock valued at $206,116,000 after acquiring an additional 46,293 shares during the period. 28.60% of the stock is owned by hedge funds and other institutional investors.

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Shell Price Performance

Shares of SHEL stock traded up $0.76 during trading hours on Tuesday, hitting $72.04. 7,373,017 shares of the company's stock were exchanged, compared to its average volume of 3,982,236. The firm has a 50 day moving average of $67.29 and a two-hundred day moving average of $66.28. Shell plc has a fifty-two week low of $60.15 and a fifty-two week high of $74.61. The firm has a market cap of $217.83 billion, a P/E ratio of 14.35, a P/E/G ratio of 0.98 and a beta of 0.47. The company has a quick ratio of 1.10, a current ratio of 1.35 and a debt-to-equity ratio of 0.36.

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

Shell Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Friday, February 14th were issued a dividend of $0.716 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 3.98%. This is a boost from Shell's previous quarterly dividend of $0.69. Shell's dividend payout ratio is presently 56.97%.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. UBS Group raised shares of Shell from a "neutral" rating to a "buy" rating in a report on Wednesday, January 8th. Morgan Stanley upgraded Shell from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $66.50 to $79.80 in a research note on Tuesday, January 7th. Wolfe Research upgraded Shell from a "peer perform" rating to an "outperform" rating and set a $80.00 target price on the stock in a research note on Friday, January 3rd. TD Cowen initiated coverage on Shell in a report on Wednesday, March 19th. They issued a "buy" rating and a $81.00 price target for the company. Finally, Wells Fargo & Company dropped their price objective on shares of Shell from $86.00 to $82.00 and set an "overweight" rating on the stock in a research note on Friday, January 31st. One analyst has rated the stock with a hold rating, nine have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $79.48.

Shell Company 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.