Chevy Chase Trust Holdings LLC Decreases Holdings in Shell plc (NYSE:SHEL)

Chevy Chase Trust Holdings LLC reduced its position in Shell plc (NYSE:SHEL) by 3.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,748,486 shares of the energy company’s stock after selling 65,883 shares during the period. Chevy Chase Trust Holdings LLC owned approximately 0.06% of Shell worth $109,543,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SHEL. FMR LLC boosted its position in Shell by 5.2% in the 3rd quarter. FMR LLC now owns 65,298,943 shares of the energy company’s stock valued at $4,306,465,000 after buying an additional 3,255,347 shares during the last quarter. Jennison Associates LLC boosted its position in Shell by 188.0% in the 3rd quarter. Jennison Associates LLC now owns 3,014,199 shares of the energy company’s stock valued at $198,786,000 after buying an additional 1,967,672 shares during the last quarter. Holocene Advisors LP boosted its position in Shell by 29.8% in the 3rd quarter. Holocene Advisors LP now owns 3,773,617 shares of the energy company’s stock valued at $248,870,000 after buying an additional 866,954 shares during the last quarter. Mediolanum International Funds Ltd bought a new position in shares of Shell during the third quarter worth about $37,274,000. Finally, Fisher Asset Management LLC lifted its position in shares of Shell by 2.1% during the third quarter. Fisher Asset Management LLC now owns 24,530,647 shares of the energy company’s stock worth $1,617,796,000 after purchasing an additional 507,311 shares during the last quarter. 28.60% of the stock is owned by hedge funds and other institutional investors.

Shell Price Performance

Shares of NYSE:SHEL opened at $67.34 on Friday. The firm’s 50 day moving average is $64.42 and its two-hundred day moving average is $67.00. Shell plc has a 52 week low of $60.15 and a 52 week high of $74.61. The firm has a market capitalization of $205.91 billion, a P/E ratio of 13.42, a PEG ratio of 0.98 and a beta of 0.54. The company has a current ratio of 1.35, a quick ratio of 1.10 and a debt-to-equity ratio of 0.36.

Shell (NYSE:SHEL) last posted its quarterly earnings data on Thursday, January 30th. The energy company reported $1.20 EPS for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.54). Shell had a net margin of 5.57% and a return on equity of 12.75%. Analysts anticipate that Shell plc will post 7.46 earnings per share for the current year.

Shell Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Friday, February 14th will be paid a dividend of $0.716 per share. This represents a $2.86 dividend on an annualized basis and a dividend yield of 4.25%. The ex-dividend date is Friday, February 14th. This is a positive change from Shell’s previous quarterly dividend of $0.69. Shell’s dividend payout ratio (DPR) is currently 54.78%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on SHEL. Piper Sandler reduced their price target on shares of Shell from $82.00 to $72.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Morgan Stanley raised shares of Shell from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $66.50 to $79.80 in a research report on Tuesday, January 7th. UBS Group raised shares of Shell from a “neutral” rating to a “buy” rating in a research report on Wednesday, January 8th. Wells Fargo & Company reduced their price target on shares of Shell from $86.00 to $82.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Finally, Wolfe Research upgraded shares of Shell from a “peer perform” rating to an “outperform” rating and set a $80.00 price objective on the stock in a research note on Friday, January 3rd. One equities research analyst has rated the stock with a hold rating, eight have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Shell presently has an average rating of “Buy” and an average target price of $79.11.

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.