Palisade Asset Management LLC Boosts Holdings in Shell plc (NYSE:SHEL)

Palisade Asset Management LLC grew its stake in shares of Shell plc (NYSE:SHEL) by 10.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,345 shares of the energy company’s stock after buying an additional 424 shares during the period. Palisade Asset Management LLC’s holdings in Shell were worth $286,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SHEL. Brown Advisory Inc. lifted its position in Shell by 8.8% during the 3rd quarter. Brown Advisory Inc. now owns 35,950 shares of the energy company’s stock worth $2,314,000 after acquiring an additional 2,907 shares in the last quarter. Verdence Capital Advisors LLC boosted its position in Shell by 78.2% in the 3rd quarter. Verdence Capital Advisors LLC now owns 15,775 shares of the energy company’s stock valued at $1,016,000 after buying an additional 6,923 shares during the last quarter. Brighton Jones LLC boosted its holdings in Shell by 8.1% in the third quarter. Brighton Jones LLC now owns 4,202 shares of the energy company’s stock valued at $271,000 after purchasing an additional 315 shares during the last quarter. FORVIS Wealth Advisors LLC raised its position in shares of Shell by 13.6% in the 3rd quarter. FORVIS Wealth Advisors LLC now owns 6,923 shares of the energy company’s stock valued at $446,000 after purchasing an additional 827 shares in the last quarter. Finally, Waldron Private Wealth LLC grew its position in shares of Shell by 9.1% during the third quarter. Waldron Private Wealth LLC now owns 3,634 shares of the energy company’s stock worth $233,000 after buying an additional 304 shares in the last quarter. 28.60% of the stock is currently owned by institutional investors and hedge funds.

Shell Price Performance

SHEL traded up $0.19 during trading on Tuesday, reaching $72.98. The stock had a trading volume of 3,254,690 shares, compared to its average volume of 4,691,007. The stock has a 50 day moving average of $68.81 and a two-hundred day moving average of $66.09. Shell plc has a 1-year low of $55.78 and a 1-year high of $73.94. The firm has a market capitalization of $234.81 billion, a price-to-earnings ratio of 13.46, a price-to-earnings-growth ratio of 1.70 and a beta of 0.59. The company has a quick ratio of 1.14, a current ratio of 1.42 and a debt-to-equity ratio of 0.37.

Shell Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 24th. Investors of record on Friday, May 17th will be paid a dividend of $0.688 per share. The ex-dividend date of this dividend is Thursday, May 16th. This is a positive change from Shell’s previous quarterly dividend of $0.66. This represents a $2.75 annualized dividend and a yield of 3.77%. Shell’s dividend payout ratio is currently 50.74%.

Analyst Ratings Changes

SHEL has been the subject of several recent analyst reports. TD Securities raised their price objective on shares of Shell from $74.00 to $81.00 and gave the stock a “buy” rating in a report on Friday. TheStreet upgraded Shell from a “c” rating to a “b-” rating in a report on Monday, January 29th. Finally, Wells Fargo & Company boosted their target price on shares of Shell from $88.00 to $91.00 and gave the company an “overweight” rating in a research note on Friday. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Shell presently has a consensus rating of “Moderate Buy” and a consensus target price of $66.50.

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.