Forefront Wealth Management Inc. Invests $2.26 Million in Shell plc (NYSE:SHEL)

Forefront Wealth Management Inc. purchased a new position in Shell plc (NYSE:SHEL) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 35,986 shares of the energy company’s stock, valued at approximately $2,255,000. Shell comprises 2.1% of Forefront Wealth Management Inc.’s holdings, making the stock its 20th largest position.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Brighton Jones LLC lifted its position in Shell by 51.7% during the fourth quarter. Brighton Jones LLC now owns 7,463 shares of the energy company’s stock valued at $468,000 after purchasing an additional 2,545 shares in the last quarter. Private Advisor Group LLC lifted its position in Shell by 0.9% during the fourth quarter. Private Advisor Group LLC now owns 33,168 shares of the energy company’s stock valued at $2,078,000 after purchasing an additional 301 shares in the last quarter. HF Advisory Group LLC lifted its position in Shell by 15.8% during the fourth quarter. HF Advisory Group LLC now owns 29,560 shares of the energy company’s stock valued at $1,852,000 after purchasing an additional 4,028 shares in the last quarter. Rockefeller Capital Management L.P. lifted its position in Shell by 1.5% during the third quarter. Rockefeller Capital Management L.P. now owns 3,125,284 shares of the energy company’s stock valued at $206,116,000 after purchasing an additional 46,293 shares in the last quarter. Finally, Lockheed Martin Investment Management Co. raised its holdings in Shell by 266.1% during the fourth quarter. Lockheed Martin Investment Management Co. now owns 122,030 shares of the energy company’s stock valued at $7,645,000 after acquiring an additional 88,700 shares during the period. 28.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SHEL. UBS Group raised Shell from a “neutral” rating to a “buy” rating in a report on Wednesday, January 8th. TD Cowen began coverage on Shell in a report on Wednesday. They set a “buy” rating and a $81.00 price target on the stock. Wolfe Research raised Shell from a “peer perform” rating to an “outperform” rating and set a $80.00 price target on the stock in a report on Friday, January 3rd. Wells Fargo & Company decreased their price target on Shell from $86.00 to $82.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Finally, Piper Sandler reduced their target price on Shell from $82.00 to $72.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. One equities research analyst has rated the stock with a hold rating, nine have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $79.48.

Shell Trading Down 1.2 %

Shares of NYSE SHEL opened at $71.08 on Friday. The business’s 50 day moving average is $67.05 and its two-hundred day moving average is $66.26. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.35 and a quick ratio of 1.10. Shell plc has a 1-year low of $60.15 and a 1-year high of $74.61. The stock has a market capitalization of $214.91 billion, a P/E ratio of 14.16, a PEG ratio of 0.98 and a beta of 0.47.

Shell (NYSE:SHEL) last issued its quarterly earnings data on Thursday, January 30th. The energy company reported $1.20 earnings per share for the quarter, missing the consensus estimate of $1.74 by ($0.54). Shell had a return on equity of 12.75% and a net margin of 5.57%. As a group, research analysts expect that Shell plc will post 7.67 EPS for the current year.

Shell Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Friday, February 14th will be paid a dividend of $0.716 per share. This is a boost from Shell’s previous quarterly dividend of $0.69. This represents a $2.86 annualized dividend and a yield of 4.03%. The ex-dividend date of this dividend is Friday, February 14th. Shell’s payout ratio is presently 56.97%.

Shell Company 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.