Shell plc (NYSE:SHEL) Shares Sold by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC lessened its position in Shell plc (NYSE:SHEL) by 0.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 929,488 shares of the energy company’s stock after selling 5,321 shares during the period. CIBC Private Wealth Group LLC’s holdings in Shell were worth $60,156,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Valley National Advisers Inc. boosted its holdings in Shell by 930.2% during the fourth quarter. Valley National Advisers Inc. now owns 443 shares of the energy company’s stock worth $27,000 after buying an additional 400 shares in the last quarter. CoreFirst Bank & Trust acquired a new position in shares of Shell in the 4th quarter worth $28,000. Human Investing LLC purchased a new stake in shares of Shell during the fourth quarter valued at $31,000. Millstone Evans Group LLC acquired a new stake in Shell during the 4th quarter worth about $36,000. Finally, Summit Securities Group LLC boosted its holdings in shares of Shell by 50.0% in the fourth quarter. Summit Securities Group LLC now owns 600 shares of the energy company’s stock worth $38,000 after buying an additional 200 shares during the period. 28.60% of the stock is currently owned by institutional investors.

Shell Trading Down 0.7 %

NYSE:SHEL opened at $72.74 on Monday. 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 company’s 50 day moving average is $67.68 and its 200-day moving average is $66.42. The firm has a market cap of $219.95 billion, a price-to-earnings ratio of 14.49, a P/E/G ratio of 0.98 and a beta of 0.47. Shell plc has a 12 month low of $60.15 and a 12 month high of $74.61.

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 return on equity of 12.75% and a net margin of 5.57%. Equities analysts anticipate that Shell plc will post 7.67 EPS for the current year.

Shell Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Friday, February 14th were given a $0.716 dividend. This represents a $2.86 annualized dividend and a dividend yield of 3.94%. This is a boost from Shell’s previous quarterly dividend of $0.69. The ex-dividend date of this dividend was Friday, February 14th. Shell’s dividend payout ratio is currently 56.97%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. UBS Group upgraded shares of Shell from a “neutral” rating to a “buy” rating in a research report on Wednesday, January 8th. Wells Fargo & Company lifted their target price on Shell from $81.00 to $87.00 and gave the company an “overweight” rating in a research note on Wednesday, March 26th. TD Securities upped their price objective on shares of Shell from $81.00 to $82.00 and gave the company a “buy” rating in a research note on Wednesday, March 19th. Morgan Stanley upgraded shares of Shell from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $66.50 to $79.80 in a report on Tuesday, January 7th. Finally, Royal Bank of Canada reissued an “outperform” rating on shares of Shell in a research report on Wednesday. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, Shell currently has a consensus rating of “Buy” and a consensus price target of $80.10.

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.