FORA Capital LLC Makes New $467,000 Investment in Shell plc (NYSE:SHEL)

FORA Capital LLC acquired a new position in Shell plc (NYSE:SHEL) in the first quarter, Holdings Channel reports. The institutional investor acquired 6,959 shares of the energy company’s stock, valued at approximately $467,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Marcum Wealth LLC lifted its holdings in Shell by 3.7% during the 1st quarter. Marcum Wealth LLC now owns 4,223 shares of the energy company’s stock valued at $283,000 after buying an additional 150 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings in Shell by 5.9% during the 4th quarter. Jones Financial Companies Lllp now owns 2,907 shares of the energy company’s stock valued at $191,000 after buying an additional 161 shares in the last quarter. Summit Trail Advisors LLC lifted its holdings in Shell by 4.4% during the 1st quarter. Summit Trail Advisors LLC now owns 3,918 shares of the energy company’s stock valued at $263,000 after buying an additional 166 shares in the last quarter. SteelPeak Wealth LLC raised its holdings in shares of Shell by 2.5% in the 1st quarter. SteelPeak Wealth LLC now owns 6,815 shares of the energy company’s stock valued at $457,000 after purchasing an additional 167 shares in the last quarter. Finally, Founders Capital Management raised its holdings in shares of Shell by 25.4% in the 4th quarter. Founders Capital Management now owns 830 shares of the energy company’s stock valued at $55,000 after purchasing an additional 168 shares in the last quarter. 28.60% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on SHEL shares. TD Securities boosted their price target on shares of Shell from $74.00 to $81.00 and gave the company a “buy” rating in a report on Friday, May 3rd. Wells Fargo & Company reduced their price target on shares of Shell from $91.00 to $90.00 and set an “overweight” rating for the company in a report on Friday, June 21st. Finally, Argus boosted their price target on shares of Shell from $77.00 to $79.00 and gave the company a “buy” rating in a report on Thursday, June 6th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $69.25.

Shell Stock Performance

NYSE:SHEL traded down $0.12 during trading hours on Tuesday, hitting $72.60. 1,128,593 shares of the company were exchanged, compared to its average volume of 4,310,671. The stock has a market capitalization of $230.85 billion, a price-to-earnings ratio of 13.41, a PEG ratio of 1.84 and a beta of 0.59. Shell plc has a 52-week low of $59.51 and a 52-week high of $74.61. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.42 and a quick ratio of 1.14. The company’s 50 day moving average price is $71.51 and its 200-day moving average price is $67.93.

Shell (NYSE:SHEL) last released its earnings results on Thursday, May 2nd. The energy company reported $2.38 earnings per share for the quarter, topping the consensus estimate of $1.87 by $0.51. The company had revenue of $74.70 billion for the quarter, compared to the consensus estimate of $88.03 billion. Shell had a net margin of 5.83% and a return on equity of 13.83%. As a group, research analysts forecast that Shell plc will post 8.55 earnings per share for the current year.

Shell Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 24th. Stockholders of record on Friday, May 17th were issued a $0.688 dividend. This is an increase from Shell’s previous quarterly dividend of $0.66. This represents a $2.75 annualized dividend and a dividend yield of 3.79%. The ex-dividend date was Thursday, May 16th. Shell’s dividend payout ratio is 50.74%.

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.