Pines Wealth Management LLC Makes New $717,000 Investment in Shell plc (NYSE:SHEL)

Pines Wealth Management LLC purchased a new stake in shares of Shell plc (NYSE:SHEL) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 11,043 shares of the energy company’s stock, valued at approximately $717,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Coronation Fund Managers Ltd. raised its stake in shares of Shell by 7.6% during the 2nd quarter. Coronation Fund Managers Ltd. now owns 15,201 shares of the energy company’s stock worth $1,097,000 after purchasing an additional 1,068 shares in the last quarter. Rhumbline Advisers raised its position in Shell by 9.8% during the second quarter. Rhumbline Advisers now owns 35,107 shares of the energy company’s stock valued at $2,534,000 after acquiring an additional 3,143 shares in the last quarter. J.W. Cole Advisors Inc. lifted its stake in Shell by 7.4% in the second quarter. J.W. Cole Advisors Inc. now owns 12,861 shares of the energy company’s stock valued at $928,000 after acquiring an additional 887 shares during the last quarter. Brown Brothers Harriman & Co. increased its stake in shares of Shell by 7.6% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 84,293 shares of the energy company’s stock worth $6,084,000 after purchasing an additional 5,962 shares during the last quarter. Finally, Lmcg Investments LLC raised its holdings in shares of Shell by 2.9% during the 2nd quarter. Lmcg Investments LLC now owns 157,010 shares of the energy company’s stock valued at $11,333,000 after purchasing an additional 4,394 shares in the last quarter. 28.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on SHEL shares. Barclays raised shares of Shell to a “strong-buy” rating in a research report on Wednesday, October 2nd. Wells Fargo & Company lowered their price objective on Shell from $87.00 to $86.00 and set an “overweight” rating on the stock in a report on Friday, January 10th. Morgan Stanley raised Shell from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $66.50 to $79.80 in a research report on Tuesday, January 7th. Scotiabank dropped their price target on shares of Shell from $90.00 to $80.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Finally, Sanford C. Bernstein raised shares of Shell to a “strong-buy” rating in a report on Friday, October 11th. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $79.69.

Shell Stock Up 1.6 %

NYSE SHEL opened at $66.01 on Wednesday. Shell plc has a twelve month low of $60.15 and a twelve month high of $74.61. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.13 and a current ratio of 1.40. The stock has a market cap of $203.13 billion, a PE ratio of 13.58, a PEG ratio of 4.84 and a beta of 0.55. The firm has a 50-day simple moving average of $64.28 and a 200 day simple moving average of $67.92.

Shell Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Friday, November 15th were issued a dividend of $0.688 per share. This represents a $2.75 annualized dividend and a dividend yield of 4.17%. The ex-dividend date was Friday, November 15th. Shell’s payout ratio is presently 56.58%.

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.