Wedge Capital Management L L P NC Cuts Holdings in Shell plc (NYSE:SHEL)

Wedge Capital Management L L P NC trimmed its holdings in shares of Shell plc (NYSE:SHEL) by 1.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 300,740 shares of the energy company’s stock after selling 5,602 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Shell were worth $18,841,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC increased its stake in Shell by 5.2% during the 3rd quarter. FMR LLC now owns 65,298,943 shares of the energy company’s stock worth $4,306,465,000 after buying an additional 3,255,347 shares in the last quarter. Empyrean Capital Partners LP acquired a new position in Shell during the second quarter worth about $151,578,000. Jennison Associates LLC raised its holdings 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 acquiring an additional 1,967,672 shares during the last quarter. Holocene Advisors LP boosted its holdings 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 during the last quarter. Finally, Mediolanum International Funds Ltd purchased a new stake in shares of Shell in the third quarter valued at approximately $37,274,000. Institutional investors and hedge funds own 28.60% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Wells Fargo & Company reduced their target price on shares of Shell from $87.00 to $86.00 and set an “overweight” rating on the stock in a research note on Friday, January 10th. Citigroup upgraded Shell to a “hold” rating in a report on Wednesday, October 2nd. Barclays raised Shell to a “strong-buy” rating in a research note on Wednesday, October 2nd. Wolfe Research raised shares of Shell from a “peer perform” rating to an “outperform” rating and set a $80.00 price target on the stock in a research note on Friday, January 3rd. Finally, Sanford C. Bernstein upgraded shares of Shell to a “strong-buy” rating in a report on Friday, October 11th. One analyst has rated the stock with a hold rating, eight have given a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $79.69.

Shell Stock Up 0.4 %

Shell stock opened at $66.74 on Friday. The stock has a market cap of $205.36 billion, a PE ratio of 13.73, a P/E/G ratio of 5.60 and a beta of 0.55. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.40 and a quick ratio of 1.13. The stock’s fifty day moving average is $64.19 and its two-hundred day moving average is $67.86. Shell plc has a 1-year low of $60.15 and a 1-year high of $74.61.

Shell Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Friday, November 15th were issued a $0.688 dividend. This represents a $2.75 annualized dividend and a dividend yield of 4.12%. The ex-dividend date of this dividend was Friday, November 15th. Shell’s payout ratio is 56.58%.

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.