Park Avenue Securities LLC Acquires 19,373 Shares of Shell plc (NYSE:SHEL)

Park Avenue Securities LLC increased its holdings in shares of Shell plc (NYSE:SHEL) by 40.8% in the 4th quarter, HoldingsChannel reports. The firm owned 66,911 shares of the energy company’s stock after acquiring an additional 19,373 shares during the period. Park Avenue Securities LLC’s holdings in Shell were worth $4,192,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in SHEL. Fortitude Family Office LLC bought a new stake in shares of Shell in the 3rd quarter valued at $30,000. Fairscale Capital LLC bought a new stake in Shell in the second quarter valued at $33,000. Valley Wealth Managers Inc. bought a new position in shares of Shell during the 3rd quarter worth about $33,000. Brooklyn Investment Group acquired a new stake in shares of Shell in the 3rd quarter valued at about $35,000. Finally, GHP Investment Advisors Inc. increased its position in Shell by 40.8% in the 3rd quarter. GHP Investment Advisors Inc. now owns 563 shares of the energy company’s stock valued at $37,000 after buying an additional 163 shares in the last quarter. 28.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Wolfe Research upgraded Shell from a “peer perform” rating to an “outperform” rating and set a $80.00 price objective for the company in a report on Friday, January 3rd. Morgan Stanley upgraded shares of Shell from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $66.50 to $79.80 in a report on Tuesday, January 7th. Barclays raised shares of Shell to a “strong-buy” rating in a research report on Wednesday, October 2nd. Wells Fargo & Company cut their price target on Shell from $87.00 to $86.00 and set an “overweight” rating for the company in a research note on Friday, January 10th. Finally, UBS Group raised Shell from a “neutral” rating to a “buy” rating in a research note on Wednesday, January 8th. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $79.69.

Shell Stock Performance

Shares of Shell stock opened at $66.46 on Friday. The firm has a market capitalization of $204.50 billion, a P/E ratio of 13.67, a price-to-earnings-growth ratio of 5.60 and a beta of 0.55. The company has a current ratio of 1.40, a quick ratio of 1.13 and a debt-to-equity ratio of 0.34. The business’s fifty day simple moving average is $64.20 and its 200 day simple moving average is $67.90. Shell plc has a 12 month low of $60.15 and a 12 month high of $74.61.

Shell Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Friday, November 15th were issued a $0.688 dividend. This represents a $2.75 dividend on an annualized basis and a dividend yield of 4.14%. The ex-dividend date of this dividend was Friday, November 15th. Shell’s dividend payout ratio (DPR) is currently 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.