Shell plc (NYSE:SHEL) Stock Position Cut by Great Lakes Advisors LLC

Great Lakes Advisors LLC decreased its holdings in shares of Shell plc (NYSE:SHEL) by 3.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 505,851 shares of the energy company’s stock after selling 15,687 shares during the period. Great Lakes Advisors LLC’s holdings in Shell were worth $31,692,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in SHEL. Nations Financial Group Inc. IA ADV lifted its position in shares of Shell by 8.3% in the third quarter. Nations Financial Group Inc. IA ADV now owns 3,209 shares of the energy company’s stock worth $212,000 after purchasing an additional 247 shares in the last quarter. Apollon Wealth Management LLC lifted its position in Shell by 14.4% in the third quarter. Apollon Wealth Management LLC now owns 22,030 shares of the energy company’s stock worth $1,453,000 after purchasing an additional 2,766 shares during the period. Rakuten Securities Inc. lifted its holdings in shares of Shell by 567.0% during the third quarter. Rakuten Securities Inc. now owns 627 shares of the energy company’s stock valued at $41,000 after acquiring an additional 533 shares during the period. Pinnacle Financial Partners Inc raised its holdings in shares of Shell by 0.3% in the third quarter. Pinnacle Financial Partners Inc now owns 143,679 shares of the energy company’s stock valued at $9,476,000 after buying an additional 481 shares during the last quarter. Finally, Schulhoff & Co. Inc. increased its position in Shell by 2.7% in the third quarter. Schulhoff & Co. Inc. now owns 10,367 shares of the energy company’s stock worth $684,000 after purchasing an additional 275 shares during the period. Institutional investors own 28.60% of the company’s stock.

Wall Street Analyst Weigh In

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

Shell Trading Up 0.0 %

Shares of SHEL stock opened at $66.81 on Wednesday. Shell plc has a 12-month low of $60.15 and a 12-month high of $74.61. The company has a quick ratio of 1.10, a current ratio of 1.35 and a debt-to-equity ratio of 0.36. The business has a 50-day moving average price of $66.16 and a two-hundred day moving average price of $66.31. The firm has a market cap of $203.18 billion, a P/E ratio of 13.31, a price-to-earnings-growth ratio of 0.98 and a beta of 0.47.

Shell (NYSE:SHEL) last released its earnings results on Thursday, January 30th. The energy company reported $1.20 earnings per share 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%. Equities analysts anticipate that Shell plc will post 7.67 EPS for the current fiscal year.

Shell Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Friday, February 14th will be given a dividend of $0.716 per share. This is a positive change from Shell’s previous quarterly dividend of $0.69. The ex-dividend date is Friday, February 14th. This represents a $2.86 dividend on an annualized basis and a yield of 4.29%. Shell’s dividend payout ratio is presently 56.97%.

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.