Shell plc (NYSE:SHEL) Shares Sold by Kanawha Capital Management LLC

Kanawha Capital Management LLC trimmed its holdings in Shell plc (NYSE:SHEL) by 5.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 36,823 shares of the energy company’s stock after selling 2,066 shares during the quarter. Kanawha Capital Management LLC’s holdings in Shell were worth $2,307,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. FMR LLC grew 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. Fisher Asset Management LLC boosted its position in shares of Shell by 2.1% during the 3rd 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 in the last quarter. Franklin Resources Inc. boosted its position in shares of Shell by 0.9% during the 3rd quarter. Franklin Resources Inc. now owns 5,972,945 shares of the energy company’s stock worth $408,430,000 after purchasing an additional 55,637 shares in the last quarter. Mawer Investment Management Ltd. boosted its position in shares of Shell by 8.7% during the 3rd quarter. Mawer Investment Management Ltd. now owns 5,282,868 shares of the energy company’s stock worth $348,405,000 after purchasing an additional 422,329 shares in the last quarter. Finally, Holocene Advisors LP boosted its position in shares of Shell by 29.8% during the 3rd quarter. Holocene Advisors LP now owns 3,773,617 shares of the energy company’s stock worth $248,870,000 after purchasing an additional 866,954 shares in the last quarter. 28.60% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SHEL has been the subject of several research reports. Wells Fargo & Company cut their price target on Shell from $86.00 to $82.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Piper Sandler cut their price target on Shell from $82.00 to $72.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Morgan Stanley raised Shell from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $66.50 to $79.80 in a research note on Tuesday, January 7th. Wolfe Research raised Shell from a “peer perform” rating to an “outperform” rating and set a $80.00 price target for the company in a research note on Friday, January 3rd. 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 assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $79.11.

Shell Trading Up 0.9 %

NYSE SHEL opened at $67.34 on Friday. Shell plc has a 12 month low of $60.15 and a 12 month high of $74.61. The company has a 50-day moving average of $64.42 and a 200-day moving average of $67.00. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.35 and a quick ratio of 1.10. The company has a market cap of $205.91 billion, a P/E ratio of 13.42, a P/E/G ratio of 0.98 and a beta of 0.54.

Shell (NYSE:SHEL) last issued its earnings results on Thursday, January 30th. The energy company reported $1.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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, equities analysts predict that Shell plc will post 7.46 earnings per share for the current year.

Shell Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Friday, February 14th will be issued a $0.716 dividend. This represents a $2.86 dividend on an annualized basis and a yield of 4.25%. The ex-dividend date is Friday, February 14th. This is a boost from Shell’s previous quarterly dividend of $0.69. Shell’s dividend payout ratio is currently 54.78%.

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.