CX Institutional Takes Position in Shell plc (NYSE:SHEL)

CX Institutional bought a new position in shares of Shell plc (NYSE:SHEL) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,101 shares of the energy company’s stock, valued at approximately $81,000.

Several other institutional investors also recently bought and sold shares of SHEL. Kennebec Savings Bank bought a new position in shares of Shell in the 1st quarter valued at approximately $25,000. CoreFirst Bank & Trust bought a new position in shares of Shell in the fourth quarter valued at approximately $28,000. Human Investing LLC acquired a new stake in shares of Shell in the fourth quarter worth $31,000. Transce3nd LLC bought a new stake in shares of Shell during the 4th quarter worth $34,000. Finally, Millstone Evans Group LLC acquired a new position in Shell in the 4th quarter valued at $36,000. 28.60% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on SHEL. 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 report on Tuesday, May 13th. Royal Bank of Canada reissued an “outperform” rating on shares of Shell in a research report on Wednesday, March 26th. Scotiabank lowered their target price on Shell from $75.00 to $70.00 and set a “sector outperform” rating on the stock in a report on Friday, April 11th. TD Securities reiterated a “buy” rating on shares of Shell in a report on Friday, April 4th. Finally, TD Cowen lowered their price objective on shares of Shell from $82.00 to $76.00 and set a “buy” rating on the stock in a research note on Tuesday, April 8th. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $78.26.

Shell Stock Performance

NYSE SHEL opened at $71.44 on Tuesday. Shell plc has a twelve month low of $58.55 and a twelve month high of $74.46. The company has a quick ratio of 1.10, a current ratio of 1.35 and a debt-to-equity ratio of 0.36. The stock has a market cap of $213.51 billion, a P/E ratio of 14.23, a PEG ratio of 0.98 and a beta of 0.39. The company’s 50-day simple moving average is $66.19 and its 200 day simple moving average is $66.11.

Shell (NYSE:SHEL) last released its quarterly earnings data on Friday, May 2nd. The energy company reported $1.84 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.30. The company had revenue of $69.23 billion for the quarter, compared to analyst estimates of $79.18 billion. Shell had a return on equity of 12.75% and a net margin of 5.57%. During the same period in the prior year, the company posted $2.40 EPS. As a group, research analysts forecast that Shell plc will post 7.67 earnings per share for the current fiscal year.

Shell Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 23rd. Shareholders of record on Friday, May 16th will be paid a dividend of $0.716 per share. The ex-dividend date is Friday, May 16th. This represents a $2.86 annualized dividend and a yield of 4.01%. Shell’s dividend payout ratio is currently 65.90%.

Shell announced that its board has authorized a stock buyback 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 shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.

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.