Shikiar Asset Management Inc. Buys Shares of 3,500 Shell plc (NYSE:SHEL)

Shikiar Asset Management Inc. acquired a new stake in Shell plc (NYSE:SHEL) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,500 shares of the energy company’s stock, valued at approximately $219,000.

A number of other hedge funds have also recently bought and sold shares of the company. FMR LLC increased its stake in Shell by 5.2% in the third quarter. FMR LLC now owns 65,298,943 shares of the energy company’s stock valued at $4,306,465,000 after purchasing an additional 3,255,347 shares during the last quarter. Fisher Asset Management LLC increased its stake in shares of Shell by 2.1% during the 3rd quarter. Fisher Asset Management LLC now owns 24,530,647 shares of the energy company’s stock valued at $1,617,796,000 after acquiring an additional 507,311 shares during the last quarter. Franklin Resources Inc. boosted its position in shares of Shell by 0.9% in the third quarter. Franklin Resources Inc. now owns 5,972,945 shares of the energy company’s stock worth $408,430,000 after acquiring an additional 55,637 shares during the last quarter. Mawer Investment Management Ltd. increased its position in Shell by 8.7% during the third quarter. Mawer Investment Management Ltd. now owns 5,282,868 shares of the energy company’s stock worth $348,405,000 after purchasing an additional 422,329 shares during the last quarter. Finally, Holocene Advisors LP boosted its holdings in shares of Shell by 29.8% in 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 last quarter. Institutional investors and hedge funds own 28.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SHEL. Scotiabank dropped their price objective on Shell from $90.00 to $80.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Piper Sandler cut their price objective on Shell from $82.00 to $72.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Sanford C. Bernstein raised shares of Shell to a “strong-buy” rating in a research report on Friday, October 11th. Wells Fargo & Company decreased their price objective on shares of Shell from $87.00 to $86.00 and set an “overweight” rating for the company in a research note on Friday, January 10th. Finally, Citigroup raised shares of Shell to a “hold” rating in a research note on Wednesday, October 2nd. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $79.69.

Shell Stock Performance

NYSE:SHEL opened at $66.74 on Friday. Shell plc has a 1-year low of $60.15 and a 1-year high of $74.61. The stock has a market cap of $205.36 billion, a P/E ratio of 13.73, a PEG ratio of 5.60 and a beta of 0.55. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.40 and a quick ratio of 1.13. The firm has a 50-day moving average of $64.19 and a two-hundred day moving average of $67.86.

Shell Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Friday, November 15th were issued a dividend of $0.688 per share. The ex-dividend date was Friday, November 15th. This represents a $2.75 annualized dividend and a yield of 4.12%. Shell’s dividend payout ratio is presently 56.58%.

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.