Fortis Group Advisors LLC Has $65,000 Stock Position in Shell plc (NYSE:SHEL)

Fortis Group Advisors LLC increased its holdings in Shell plc (NYSE:SHEL) by 100.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 984 shares of the energy company’s stock after purchasing an additional 492 shares during the period. Fortis Group Advisors LLC’s holdings in Shell were worth $65,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of SHEL. FMR LLC grew its stake in Shell by 29.1% in the 3rd quarter. FMR LLC now owns 29,087,703 shares of the energy company’s stock valued at $1,872,666,000 after buying an additional 6,554,340 shares during the last quarter. Invesco Ltd. grew its position in shares of Shell by 162.9% in the third quarter. Invesco Ltd. now owns 1,763,562 shares of the energy company’s stock valued at $113,538,000 after purchasing an additional 1,092,670 shares during the last quarter. Mawer Investment Management Ltd. lifted its position in shares of Shell by 19.9% during the 4th quarter. Mawer Investment Management Ltd. now owns 5,325,276 shares of the energy company’s stock worth $350,403,000 after purchasing an additional 885,069 shares during the last quarter. Wellington Management Group LLP boosted its stake in Shell by 10.7% during the 3rd quarter. Wellington Management Group LLP now owns 8,742,878 shares of the energy company’s stock valued at $562,866,000 after purchasing an additional 848,104 shares during the period. Finally, L1 Capital Pty Ltd grew its holdings in Shell by 188.7% in the 3rd quarter. L1 Capital Pty Ltd now owns 1,224,617 shares of the energy company’s stock valued at $78,841,000 after buying an additional 800,365 shares during the last quarter. 28.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Wells Fargo & Company raised their price objective on shares of Shell from $88.00 to $91.00 and gave the stock an “overweight” rating in a research note on Friday, May 3rd. Argus raised their price target on shares of Shell from $77.00 to $79.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. Finally, TD Securities boosted their price target on Shell from $74.00 to $81.00 and gave the company a “buy” rating in a research note on Friday, May 3rd. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.50.

Shell Price Performance

Shares of SHEL traded down $0.76 during mid-day trading on Friday, reaching $69.00. The company had a trading volume of 4,109,381 shares, compared to its average volume of 3,183,590. The company’s 50-day moving average is $71.77 and its 200-day moving average is $67.14. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.42 and a quick ratio of 1.14. The company has a market capitalization of $219.40 billion, a P/E ratio of 12.73, a P/E/G ratio of 1.77 and a beta of 0.60. Shell plc has a twelve month low of $58.14 and a twelve month high of $74.61.

Shell (NYSE:SHEL) last issued its quarterly earnings data on Thursday, May 2nd. The energy company reported $2.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.87 by $0.51. Shell had a return on equity of 13.83% and a net margin of 5.83%. The company had revenue of $74.70 billion during the quarter, compared to analysts’ expectations of $88.03 billion. On average, equities analysts anticipate that Shell plc will post 8.37 EPS for the current year.

Shell Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 24th. Stockholders of record on Friday, May 17th will be issued a dividend of $0.688 per share. This represents a $2.75 annualized dividend and a dividend yield of 3.99%. The ex-dividend date of this dividend is Thursday, May 16th. This is a boost from Shell’s previous quarterly dividend of $0.66. Shell’s dividend payout ratio is presently 50.74%.

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.