Caas Capital Management LP Raises Stock Holdings in Shell plc (NYSE:SHEL)

Caas Capital Management LP boosted its holdings in Shell plc (NYSE:SHEL) by 24.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 36,000 shares of the energy company’s stock after buying an additional 7,000 shares during the quarter. Shell accounts for approximately 0.4% of Caas Capital Management LP’s holdings, making the stock its 16th biggest position. Caas Capital Management LP’s holdings in Shell were worth $2,255,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Brighton Jones LLC raised its position in 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 last quarter. NorthCrest Asset Manangement LLC increased its position in shares of Shell by 6.4% during the 3rd quarter. NorthCrest Asset Manangement LLC now owns 3,741 shares of the energy company’s stock valued at $247,000 after purchasing an additional 225 shares during the last quarter. Rockefeller Capital Management L.P. increased its position in shares of Shell by 1.5% during the 3rd 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 during the last quarter. HF Advisory Group LLC increased its position in shares of Shell by 15.8% during the 4th 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. increased its position in shares of Shell by 3.3% during the 4th quarter. Pacer Advisors Inc. now owns 1,008,002 shares of the energy company’s stock valued at $63,151,000 after purchasing an additional 32,603 shares during the last quarter. Hedge funds and other institutional investors own 28.60% of the company’s stock.

Shell Price Performance

Shares of SHEL stock opened at $65.21 on Tuesday. Shell plc has a 1-year low of $60.15 and a 1-year high of $74.61. The stock’s 50-day moving average is $64.18 and its 200 day moving average is $67.23. The company has a market cap of $199.37 billion, a P/E ratio of 12.99, a PEG ratio of 6.57 and a beta of 0.54. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.35 and a quick ratio of 1.10.

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 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%. Research analysts predict that Shell plc will post 7.27 earnings per share for the current fiscal year.

Shell Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Friday, February 14th will be issued a dividend of $0.716 per share. This is an increase from Shell’s previous quarterly dividend of $0.69. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 4.39%. Shell’s payout ratio is 54.78%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on SHEL. Sanford C. Bernstein raised shares of Shell to a “strong-buy” rating in a report on Friday, October 11th. UBS Group raised shares of Shell from a “neutral” rating to a “buy” rating in a report on Wednesday, January 8th. Piper Sandler reduced their target price on shares of Shell from $82.00 to $72.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Scotiabank reduced their target price on shares of Shell from $90.00 to $80.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Finally, Wells Fargo & Company reduced their target price on shares of Shell from $86.00 to $82.00 and set an “overweight” rating for the company in a report on Friday. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $79.11.

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.