Global Trust Asset Management LLC Has $307,000 Stock Position in Shell plc (NYSE:SHEL)

Global Trust Asset Management LLC increased its position in Shell plc (NYSE:SHEL) by 1,371.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,195 shares of the energy company’s stock after purchasing an additional 3,910 shares during the quarter. Global Trust Asset Management LLC’s holdings in Shell were worth $307,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SHEL. Kennebec Savings Bank acquired a new stake in Shell in the first quarter worth about $25,000. CoreFirst Bank & Trust acquired a new position in shares of Shell during the 4th quarter worth about $28,000. Human Investing LLC acquired a new position in shares of Shell during the 4th quarter worth about $31,000. Transce3nd LLC acquired a new position in shares of Shell during the 4th quarter worth about $34,000. Finally, Millstone Evans Group LLC acquired a new position in shares of Shell during the 4th quarter worth about $36,000. 28.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SHEL has been the subject of several analyst reports. Hsbc Global Res upgraded Shell to a “strong-buy” rating in a research report on Tuesday, May 13th. Wells Fargo & Company decreased their price objective on Shell from $83.00 to $80.00 and set an “overweight” rating for the company in a research report on Monday, May 5th. Royal Bank of Canada reiterated an “outperform” rating on shares of Shell in a research report on Wednesday, March 26th. TD Cowen decreased their price objective on Shell from $82.00 to $76.00 and set a “buy” rating for the company in a research report on Tuesday, April 8th. Finally, Piper Sandler boosted their price objective on Shell from $72.00 to $80.00 and gave the company an “overweight” rating in a research report on Tuesday, May 13th. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $78.26.

Shell Trading Down 1.5%

NYSE SHEL opened at $71.44 on Tuesday. The stock has a market capitalization of $213.51 billion, a price-to-earnings ratio of 14.23, a PEG ratio of 0.98 and a beta of 0.39. The stock’s 50 day moving average price is $66.19 and its two-hundred day moving average price is $66.11. 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 $58.55 and a 52 week high of $74.46.

Shell (NYSE:SHEL) last released its earnings results on Friday, May 2nd. The energy company reported $1.84 EPS for the quarter, beating the consensus estimate 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 analysts’ expectations of $79.18 billion. During the same quarter in the previous year, the business posted $2.40 EPS. As a group, analysts anticipate that Shell plc will post 7.67 earnings per share for the current fiscal year.

Shell announced that its Board of Directors has initiated a share repurchase program on Friday, May 2nd that authorizes the company to buyback $3.50 billion in outstanding shares. This buyback authorization authorizes the energy company to reacquire up to 1.8% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Shell Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 23rd. Stockholders of record on Friday, May 16th will be paid a dividend of $0.716 per share. This represents a $2.86 dividend on an annualized basis and a dividend yield of 4.01%. The ex-dividend date is Friday, May 16th. Shell’s dividend payout ratio is currently 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.