Breakwater Capital Group Grows Stake in Shell plc (NYSE:SHEL)

Breakwater Capital Group increased its holdings in shares of Shell plc (NYSE:SHEL) by 23.7% in the 1st quarter, Holdings Channel.com reports. The firm owned 4,663 shares of the energy company’s stock after acquiring an additional 894 shares during the quarter. Breakwater Capital Group’s holdings in Shell were worth $342,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. boosted its stake in Shell by 6.5% in the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 4,529 shares of the energy company’s stock valued at $332,000 after acquiring an additional 278 shares in the last quarter. Gilman Hill Asset Management LLC boosted its position in shares of Shell by 4.1% in the 1st quarter. Gilman Hill Asset Management LLC now owns 59,178 shares of the energy company’s stock valued at $4,337,000 after purchasing an additional 2,350 shares during the period. Fermata Advisors LLC acquired a new position in Shell during the first quarter worth approximately $391,000. HF Advisory Group LLC lifted its stake in Shell by 8.1% in the first quarter. HF Advisory Group LLC now owns 31,966 shares of the energy company’s stock valued at $2,342,000 after buying an additional 2,406 shares during the last quarter. Finally, TruWealth Advisors LLC boosted its holdings in shares of Shell by 0.5% in the first quarter. TruWealth Advisors LLC now owns 324,115 shares of the energy company’s stock valued at $23,751,000 after acquiring an additional 1,511 shares during the period. 28.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SHEL has been the subject of several research reports. Barclays reiterated an “overweight” rating on shares of Shell in a research report on Wednesday, March 26th. Royal Bank of Canada reaffirmed an “outperform” rating on shares of Shell in a report on Wednesday, March 26th. Piper Sandler raised their price target on Shell from $72.00 to $80.00 and gave the stock an “overweight” rating in a report on Tuesday, May 13th. TD Securities reaffirmed a “buy” rating on shares of Shell in a research note on Friday, April 4th. Finally, Wells Fargo & Company lowered their target price on Shell from $83.00 to $80.00 and set an “overweight” rating on the stock in a research note on Monday, May 5th. One analyst has rated the stock with a hold rating, ten 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 an average rating of “Buy” and a consensus price target of $78.26.

Shell Price Performance

Shares of SHEL opened at $68.03 on Friday. The firm has a market capitalization of $203.33 billion, a PE ratio of 13.55, a P/E/G ratio of 0.98 and a beta of 0.38. The stock’s 50 day moving average is $65.46 and its two-hundred day moving average is $65.87. Shell plc has a twelve month low of $58.55 and a twelve month high of $74.46. The company has a current ratio of 1.35, a quick ratio of 1.10 and a debt-to-equity ratio of 0.36.

Shell (NYSE:SHEL) last announced its quarterly earnings data on Friday, May 2nd. The energy company reported $1.84 earnings per share for the quarter, topping analysts’ consensus estimates of $1.54 by $0.30. Shell had a return on equity of 12.75% and a net margin of 5.57%. The firm had revenue of $69.23 billion for the quarter, compared to analyst estimates of $79.18 billion. During the same quarter in the prior year, the company posted $2.40 earnings per share. Research analysts anticipate that Shell plc will post 7.67 earnings per share for the current year.

Shell announced that its board has authorized a share repurchase program on Friday, May 2nd that permits the company to repurchase $3.50 billion in outstanding shares. This repurchase authorization permits the energy company to buy up to 1.8% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Shell Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 23rd. Investors of record on Friday, May 16th will be paid a $0.716 dividend. This represents a $2.86 annualized dividend and a dividend yield of 4.21%. The ex-dividend date of this dividend is Friday, May 16th. Shell’s dividend payout ratio (DPR) is 65.90%.

About Shell

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.