Independence Bank of Kentucky Raises Stock Position in Shell plc (NYSE:SHEL)

Independence Bank of Kentucky grew its stake in shares of Shell plc (NYSE:SHEL) by 151.5% during the fourth quarter, HoldingsChannel reports. The firm owned 14,975 shares of the energy company’s stock after purchasing an additional 9,020 shares during the quarter. Independence Bank of Kentucky’s holdings in Shell were worth $938,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of SHEL. Brighton Jones LLC grew its position in shares of Shell by 51.7% in the 4th quarter. Brighton Jones LLC now owns 7,463 shares of the energy company’s stock worth $468,000 after buying an additional 2,545 shares during the period. NorthCrest Asset Manangement LLC grew its holdings in Shell by 6.4% in the third quarter. NorthCrest Asset Manangement LLC now owns 3,741 shares of the energy company’s stock worth $247,000 after purchasing an additional 225 shares during the period. Rockefeller Capital Management L.P. increased its stake in shares of Shell by 1.5% during the third quarter. Rockefeller Capital Management L.P. now owns 3,125,284 shares of the energy company’s stock valued at $206,116,000 after purchasing an additional 46,293 shares in the last quarter. HF Advisory Group LLC lifted its holdings in shares of Shell by 15.8% during the fourth quarter. HF Advisory Group LLC now owns 29,560 shares of the energy company’s stock valued at $1,852,000 after purchasing an additional 4,028 shares during the last quarter. Finally, Pacer Advisors Inc. grew its stake in shares of Shell by 3.3% in the 4th quarter. Pacer Advisors Inc. now owns 1,008,002 shares of the energy company’s stock worth $63,151,000 after buying an additional 32,603 shares during the last quarter. 28.60% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on SHEL shares. Wells Fargo & Company dropped their target price on Shell from $86.00 to $82.00 and set an “overweight” rating on the stock in a report on Friday. Wolfe Research raised shares of Shell from a “peer perform” rating to an “outperform” rating and set a $80.00 price objective on the stock in a research report on Friday, January 3rd. UBS Group raised shares of Shell from a “neutral” rating to a “buy” rating in a report on Wednesday, January 8th. Morgan Stanley upgraded shares of Shell from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $66.50 to $79.80 in a report on Tuesday, January 7th. Finally, Piper Sandler lowered their price objective on Shell from $82.00 to $72.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Shell currently has an average rating of “Buy” and a consensus target price of $79.11.

Shell Trading Down 1.3 %

NYSE:SHEL opened at $65.82 on Friday. The company has a market cap of $201.23 billion, a PE ratio of 13.54, a price-to-earnings-growth ratio of 6.46 and a beta of 0.55. The company has a current ratio of 1.40, a quick ratio of 1.13 and a debt-to-equity ratio of 0.34. The company has a 50 day simple moving average of $64.17 and a two-hundred day simple moving average of $67.36. Shell plc has a 12 month low of $60.15 and a 12 month high of $74.61.

Shell (NYSE:SHEL) last issued its quarterly earnings data on Thursday, January 30th. The energy company reported $1.20 earnings per share for the quarter, missing the consensus estimate of $1.74 by ($0.54). Shell had a return on equity of 14.54% and a net margin of 5.17%. Research analysts forecast that Shell plc will post 8.11 earnings per share for the current year.

Shell Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Friday, February 14th will be paid a $0.716 dividend. This represents a $2.86 annualized dividend and a dividend yield of 4.35%. This is a positive change from Shell’s previous quarterly dividend of $0.69. The ex-dividend date is Friday, February 14th. Shell’s dividend payout ratio is 56.58%.

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.