Potomac Fund Management Inc. ADV Buys Shares of 23,719 Shell plc (NYSE:SHEL)

Potomac Fund Management Inc. ADV acquired a new stake in Shell plc (NYSE:SHEL - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 23,719 shares of the energy company's stock, valued at approximately $1,486,000. Shell accounts for 1.3% of Potomac Fund Management Inc. ADV's portfolio, making the stock its 16th biggest holding.

Several other hedge funds also recently bought and sold shares of SHEL. Trexquant Investment LP grew its holdings in shares of Shell by 95.9% during the fourth quarter. Trexquant Investment LP now owns 164,700 shares of the energy company's stock worth $10,318,000 after purchasing an additional 80,641 shares in the last quarter. May Hill Capital LLC bought a new position in shares of Shell in the 4th quarter worth $418,000. OLD Mission Capital LLC purchased a new stake in shares of Shell during the 4th quarter valued at $3,094,000. National Bank of Canada FI grew its position in Shell by 236.4% in the fourth quarter. National Bank of Canada FI now owns 445,422 shares of the energy company's stock worth $27,906,000 after acquiring an additional 313,018 shares in the last quarter. Finally, Franklin Resources Inc. raised its position in Shell by 0.8% during the fourth quarter. Franklin Resources Inc. now owns 6,023,173 shares of the energy company's stock valued at $377,352,000 after purchasing an additional 50,228 shares in the last quarter. Hedge funds and other institutional investors own 28.60% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on SHEL. TD Securities raised their price objective on Shell from $81.00 to $82.00 and gave the company a "buy" rating in a report on Wednesday, March 19th. Wells Fargo & Company upped their price objective on shares of Shell from $81.00 to $87.00 and gave the company an "overweight" rating in a research note on Wednesday, March 26th. Morgan Stanley raised shares of Shell from an "equal weight" rating to an "overweight" rating and boosted their price target for the stock from $66.50 to $79.80 in a research note on Tuesday, January 7th. Piper Sandler reduced their price objective on Shell from $82.00 to $72.00 and set an "overweight" rating on the stock in a research note on Thursday, December 19th. Finally, TD Cowen began coverage on Shell in a research report on Wednesday, March 19th. They set a "buy" rating and a $81.00 price target on the stock. One analyst has rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Shell currently has an average rating of "Buy" and a consensus price target of $80.10.

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Shell Stock Down 7.9 %

NYSE SHEL traded down $5.54 during trading hours on Friday, reaching $64.23. 4,840,771 shares of the company's stock traded hands, compared to its average volume of 4,169,248. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.35 and a quick ratio of 1.10. The firm has a 50-day simple moving average of $68.14 and a 200 day simple moving average of $66.57. Shell plc has a 52-week low of $60.15 and a 52-week high of $74.61. The firm has a market cap of $194.21 billion, a PE ratio of 12.80, a PEG ratio of 0.98 and a beta of 0.27.

Shell (NYSE:SHEL - Get Free Report) last announced 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 net margin of 5.57% and a return on equity of 12.75%. Sell-side analysts anticipate that Shell plc will post 7.67 EPS for the current fiscal 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 $0.716 dividend. The ex-dividend date of this dividend was Friday, February 14th. This is a boost from Shell's previous quarterly dividend of $0.69. This represents a $2.86 annualized dividend and a yield of 4.46%. Shell's payout ratio is 56.97%.

Shell 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.