Lloyd Harbor Capital Management LLC Makes New $20.05 Million Investment in Shell plc (NYSE:SHEL)

Lloyd Harbor Capital Management LLC purchased a new position in Shell plc (NYSE:SHEL) in the fourth quarter, Holdings Channel.com reports. The firm purchased 320,000 shares of the energy company’s stock, valued at approximately $20,048,000. Shell makes up approximately 13.1% of Lloyd Harbor Capital Management LLC’s investment portfolio, making the stock its 2nd biggest holding.

A number of other institutional investors have also bought and sold shares of SHEL. FMR LLC grew its position in shares of Shell by 32.3% during the fourth quarter. FMR LLC now owns 86,417,177 shares of the energy company’s stock valued at $5,414,036,000 after purchasing an additional 21,118,234 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Shell during the fourth quarter valued at about $91,716,000. Freestone Grove Partners LP purchased a new position in shares of Shell during the fourth quarter valued at about $83,204,000. Bridgewater Associates LP grew its position in shares of Shell by 523.9% during the fourth quarter. Bridgewater Associates LP now owns 831,000 shares of the energy company’s stock valued at $52,062,000 after purchasing an additional 697,806 shares in the last quarter. Finally, Clark Capital Management Group Inc. lifted its holdings in shares of Shell by 14,434.6% in the 4th quarter. Clark Capital Management Group Inc. now owns 556,239 shares of the energy company’s stock valued at $34,848,000 after acquiring an additional 552,412 shares during the last quarter. Hedge funds and other institutional investors own 28.60% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Barclays reaffirmed an “overweight” rating on shares of Shell in a report on Wednesday, March 26th. TD Securities reaffirmed a “buy” rating on shares of Shell in a report on Friday, April 4th. TD Cowen lowered their price target on shares of Shell from $82.00 to $76.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. Wells Fargo & Company lowered their price target on shares of Shell from $83.00 to $80.00 and set an “overweight” rating for the company in a report on Monday, May 5th. Finally, Royal Bank of Canada reissued an “outperform” rating on shares of Shell in a research note on Wednesday, March 26th. One research analyst has rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $77.35.

Shell Stock Performance

Shell stock opened at $66.16 on Monday. The company has a 50 day moving average price of $66.74 and a 200-day moving average price of $65.84. 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 plc has a fifty-two week low of $58.55 and a fifty-two week high of $74.61. The company has a market capitalization of $199.01 billion, a PE ratio of 13.18, a P/E/G ratio of 0.98 and a beta of 0.38.

Shell (NYSE:SHEL) last posted its quarterly earnings results on Friday, May 2nd. The energy company reported $1.84 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.30. Shell had a net margin of 5.57% and a return on equity of 12.75%. The firm had revenue of $69.23 billion during the quarter, compared to the consensus estimate of $79.18 billion. During the same quarter in the previous year, the firm posted $2.40 earnings per share. As a group, equities analysts forecast that Shell plc will post 7.67 earnings per share for the current year.

Shell Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 23rd. Stockholders of record on Friday, May 16th will be paid a dividend of $0.716 per share. This represents a $2.86 annualized dividend and a dividend yield of 4.33%. The ex-dividend date of this dividend is Friday, May 16th. Shell’s dividend payout ratio is presently 65.90%.

Shell declared that its Board of Directors has initiated a stock buyback plan on Friday, May 2nd that allows the company to buyback $3.50 billion in outstanding shares. This buyback authorization allows the energy company to purchase up to 1.8% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

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.