BTC Capital Management Inc. Raises Stock Holdings in Shell plc (NYSE:SHEL)

BTC Capital Management Inc. grew its stake in shares of Shell plc (NYSE:SHEL) by 13.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 23,186 shares of the energy company’s stock after buying an additional 2,727 shares during the quarter. BTC Capital Management Inc.’s holdings in Shell were worth $1,446,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. FMR LLC increased its position in shares of Shell by 5.2% during the 3rd 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 holdings in Shell by 2.1% during the third quarter. Fisher Asset Management LLC now owns 24,530,647 shares of the energy company’s stock valued at $1,617,796,000 after buying an additional 507,311 shares during the last quarter. Franklin Resources Inc. raised its position in 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 period. Mawer Investment Management Ltd. boosted its stake in shares of Shell by 8.7% during the 3rd quarter. Mawer Investment Management Ltd. now owns 5,282,868 shares of the energy company’s stock worth $348,405,000 after acquiring an additional 422,329 shares during the last quarter. Finally, Holocene Advisors LP increased its stake 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 worth $248,870,000 after purchasing an additional 866,954 shares in the last quarter. 28.60% of the stock is owned by hedge funds and other institutional investors.

Shell Price Performance

NYSE:SHEL opened at $66.60 on Friday. The business’s 50-day moving average is $64.18 and its 200 day moving average is $67.41. Shell plc has a 12 month low of $60.15 and a 12 month high of $74.61. 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 market capitalization of $203.62 billion, a P/E ratio of 13.70, a P/E/G ratio of 6.46 and a beta of 0.55.

Shell (NYSE:SHEL) last released its quarterly earnings results on Thursday, January 30th. The energy company reported $1.20 EPS 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%. On average, equities research analysts forecast that Shell plc will post 8.11 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have issued reports on the company. Scotiabank cut their price target on Shell from $90.00 to $80.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Morgan Stanley raised shares of Shell from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $66.50 to $79.80 in a report on Tuesday, January 7th. UBS Group upgraded shares of Shell from a “neutral” rating to a “buy” rating in a research report on Wednesday, January 8th. Wells Fargo & Company lowered their target price on shares of Shell from $87.00 to $86.00 and set an “overweight” rating on the stock in a research note on Friday, January 10th. Finally, Wolfe Research upgraded Shell from a “peer perform” rating to an “outperform” rating and set a $80.00 price target for the company in a research note on Friday, January 3rd. One 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. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $79.69.

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.