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

Breakwater Capital Group raised its position in Shell plc (NYSE:SHEL) by 23.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,663 shares of the energy company’s stock after buying an additional 894 shares during the period. Breakwater Capital Group’s holdings in Shell were worth $342,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. CoreFirst Bank & Trust acquired a new position in Shell during the fourth quarter worth $28,000. Human Investing LLC acquired a new position in shares of Shell during the 4th quarter valued at about $31,000. Transce3nd LLC purchased a new stake in shares of Shell in the fourth quarter valued at about $34,000. Millstone Evans Group LLC purchased a new position in Shell during the fourth quarter worth about $36,000. Finally, Summit Securities Group LLC grew its stake in shares of Shell by 50.0% in the 4th quarter. Summit Securities Group LLC now owns 600 shares of the energy company’s stock valued at $38,000 after buying an additional 200 shares during the period. Institutional investors and hedge funds own 28.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on SHEL. TD Cowen decreased their price objective on Shell from $82.00 to $76.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. Hsbc Global Res raised Shell to a “strong-buy” rating in a research note on Tuesday, May 13th. TD Securities reissued a “buy” rating on shares of Shell in a research report on Friday, April 4th. Royal Bank of Canada reaffirmed an “outperform” rating on shares of Shell in a research report on Wednesday, March 26th. Finally, Scotiabank dropped their price target on shares of Shell from $75.00 to $70.00 and set a “sector outperform” rating for the company in a research report on Friday, April 11th. One research analyst has rated the stock with a hold rating, ten have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $78.26.

Shell Trading Up 0.7%

NYSE SHEL opened at $68.03 on Friday. Shell plc has a one year low of $58.55 and a one year high of $74.46. The firm has a 50 day simple moving average of $65.46 and a 200-day simple moving average of $65.87. The firm has a market cap of $203.33 billion, a price-to-earnings ratio of 13.55, a PEG ratio of 0.98 and a beta of 0.38. 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 (NYSE:SHEL) last posted its quarterly earnings results on Friday, May 2nd. The energy company reported $1.84 EPS for the quarter, topping the consensus estimate of $1.54 by $0.30. The business had revenue of $69.23 billion during the quarter, compared to the consensus estimate of $79.18 billion. Shell had a net margin of 5.57% and a return on equity of 12.75%. During the same quarter in the previous year, the firm posted $2.40 earnings per share. Equities research analysts anticipate that Shell plc will post 7.67 EPS for the current fiscal year.

Shell announced that its Board of Directors has approved a share buyback plan on Friday, May 2nd that permits the company to repurchase $3.50 billion in outstanding shares. This repurchase authorization permits the energy company to repurchase up to 1.8% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

Shell Announces Dividend

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 given a dividend of $0.716 per share. This represents a $2.86 dividend on an annualized basis and a dividend yield of 4.21%. The ex-dividend date is Friday, May 16th. Shell’s dividend payout ratio is presently 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.