Sequoia Financial Advisors LLC Boosts Stock Position in Shell plc (NYSE:SHEL)

Posted by on Mar 26th, 2023

Sequoia Financial Advisors LLC increased its position in shares of Shell plc (NYSE:SHEL – Get Rating) by 39.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 25,229 shares of the energy company’s stock after purchasing an additional 7,117 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Shell were worth $1,437,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the company. Chemistry Wealth Management LLC purchased a new stake in shares of Shell during the fourth quarter worth approximately $225,000. MBE Wealth Management LLC purchased a new stake in shares of Shell during the fourth quarter worth approximately $209,000. Key Client Fiduciary Advisors LLC purchased a new stake in shares of Shell during the fourth quarter worth approximately $311,000. Capital Advisors Inc. OK increased its position in shares of Shell by 10.5% during the fourth quarter. Capital Advisors Inc. OK now owns 4,638 shares of the energy company’s stock worth $264,000 after purchasing an additional 441 shares in the last quarter. Finally, Ronald Blue Trust Inc. increased its position in shares of Shell by 17.7% during the fourth quarter. Ronald Blue Trust Inc. now owns 10,322 shares of the energy company’s stock worth $514,000 after purchasing an additional 1,554 shares in the last quarter. 7.74% of the stock is currently owned by hedge funds and other institutional investors.

Shell Price Performance

SHEL opened at $54.57 on Friday. The stock’s 50-day moving average price is $59.29 and its 200 day moving average price is $56.33. Shell plc has a 12-month low of $44.90 and a 12-month high of $62.75. The company has a current ratio of 1.37, a quick ratio of 1.10 and a debt-to-equity ratio of 0.39. The firm has a market cap of $190.20 billion, a price-to-earnings ratio of 4.78, a PEG ratio of 0.61 and a beta of 0.65.

Shell Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 27th. Investors of record on Friday, February 17th will be paid a dividend of $0.575 per share. This is a positive change from Shell’s previous quarterly dividend of $0.50. The ex-dividend date is Thursday, February 16th. This represents a $2.30 annualized dividend and a yield of 4.21%. Shell’s dividend payout ratio is presently 20.14%.

Analysts Set New Price Targets

Several analysts have issued reports on SHEL shares. Morgan Stanley cut Shell from an “equal weight” rating to an “underweight” rating in a report on Thursday, February 9th. JPMorgan Chase & Co. upped their target price on Shell from GBX 2,900 ($35.61) to GBX 2,950 ($36.23) in a report on Friday, December 2nd. Berenberg Bank upped their target price on Shell from GBX 2,900 ($35.61) to GBX 3,000 ($36.84) in a report on Friday, February 17th. Wolfe Research cut Shell from an “outperform” rating to a “peer perform” rating in a report on Thursday, January 12th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Shell from GBX 2,761 ($33.91) to GBX 2,987 ($36.68) in a research note on Tuesday, December 6th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $2,879.86.

Shell Company Profile

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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 necessary to deliver gas to market.

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Institutional Ownership by Quarter for Shell (NYSE:SHEL)

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