Whittier Trust Co. Has $1.81 Million Stock Position in Shell plc (NYSE:SHEL)

Whittier Trust Co. increased its holdings in Shell plc (NYSE:SHEL) by 32.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,859 shares of the energy company’s stock after purchasing an additional 7,008 shares during the period. Whittier Trust Co.’s holdings in Shell were worth $1,808,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. FMR LLC raised its holdings in Shell by 5.2% in the 3rd quarter. FMR LLC now owns 65,298,943 shares of the energy company’s stock worth $4,306,465,000 after acquiring an additional 3,255,347 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Shell during the 4th quarter worth about $91,716,000. Holocene Advisors LP boosted its stake in Shell by 29.8% during the 3rd quarter. Holocene Advisors LP now owns 3,773,617 shares of the energy company’s stock valued at $248,870,000 after purchasing an additional 866,954 shares during the period. Fisher Asset Management LLC increased its position in Shell by 2.1% in the 3rd quarter. Fisher Asset Management LLC now owns 24,530,647 shares of the energy company’s stock worth $1,617,796,000 after buying an additional 507,311 shares during the period. Finally, Merewether Investment Management LP boosted its position in shares of Shell by 41.0% in the third quarter. Merewether Investment Management LP now owns 1,544,764 shares of the energy company’s stock valued at $101,877,000 after acquiring an additional 449,000 shares during the period. Institutional investors and hedge funds own 28.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Morgan Stanley upgraded shares of Shell from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $66.50 to $79.80 in a research note on Tuesday, January 7th. Wells Fargo & Company decreased their target price on Shell from $86.00 to $82.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. UBS Group raised Shell from a “neutral” rating to a “buy” rating in a report on Wednesday, January 8th. TD Cowen initiated coverage on Shell in a research report on Wednesday. They set a “buy” rating and a $81.00 price objective on the stock. Finally, Piper Sandler reduced their target price on Shell from $82.00 to $72.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. One research analyst has rated the stock with a hold rating, nine have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $79.48.

Shell Stock Down 1.2 %

Shares of NYSE SHEL opened at $71.08 on Friday. The business has a fifty day moving average of $67.05 and a two-hundred day moving average of $66.26. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.10 and a current ratio of 1.35. Shell plc has a 52-week low of $60.15 and a 52-week high of $74.61. The stock has a market cap of $214.91 billion, a PE ratio of 14.16, a PEG ratio of 0.98 and a beta of 0.47.

Shell (NYSE:SHEL) last released its quarterly earnings results on Thursday, January 30th. The energy company reported $1.20 EPS 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%. As a group, equities research analysts expect that Shell plc will post 7.67 earnings per share for the current fiscal year.

Shell Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Friday, February 14th will be given a $0.716 dividend. 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 annualized dividend and a yield of 4.03%. Shell’s payout ratio is presently 56.97%.

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.