Shell plc (NYSE:SHEL) Stock Holdings Lowered by Van ECK Associates Corp

Van ECK Associates Corp reduced its holdings in Shell plc (NYSE:SHEL) by 6.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,280,199 shares of the energy company’s stock after selling 82,910 shares during the quarter. Van ECK Associates Corp’s holdings in Shell were worth $80,204,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Procyon Advisors LLC raised its holdings in shares of Shell by 3.2% in the 3rd quarter. Procyon Advisors LLC now owns 5,074 shares of the energy company’s stock worth $335,000 after purchasing an additional 159 shares in the last quarter. Foster Group Inc. raised its holdings in shares of Shell by 5.0% in the 4th quarter. Foster Group Inc. now owns 3,393 shares of the energy company’s stock worth $213,000 after purchasing an additional 162 shares in the last quarter. GHP Investment Advisors Inc. raised its holdings in shares of Shell by 40.8% during the third quarter. GHP Investment Advisors Inc. now owns 563 shares of the energy company’s stock valued at $37,000 after acquiring an additional 163 shares during the period. Warther Private Wealth LLC raised its holdings in shares of Shell by 5.5% during the fourth quarter. Warther Private Wealth LLC now owns 3,268 shares of the energy company’s stock valued at $205,000 after acquiring an additional 169 shares during the period. Finally, RHS Financial LLC raised its holdings in shares of Shell by 3.1% during the fourth quarter. RHS Financial LLC now owns 5,667 shares of the energy company’s stock valued at $355,000 after acquiring an additional 173 shares during the period. 28.60% of the stock is currently owned by institutional investors.

Shell Stock Performance

SHEL stock opened at $67.34 on Friday. 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 has a market capitalization of $205.91 billion, a price-to-earnings ratio of 13.42, a P/E/G ratio of 0.98 and a beta of 0.54. Shell plc has a 12 month low of $60.15 and a 12 month high of $74.61. The firm has a 50 day moving average of $64.42 and a two-hundred day moving average of $67.00.

Shell (NYSE:SHEL) last posted its earnings results on Thursday, January 30th. The energy company reported $1.20 EPS for the quarter, missing the consensus estimate 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 anticipate that Shell plc will post 7.46 EPS for the current fiscal year.

Shell Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on SHEL shares. Wells Fargo & Company cut their price target on shares of Shell from $86.00 to $82.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Piper Sandler cut their price target on shares of Shell from $82.00 to $72.00 and set an “overweight” rating on the stock in a report on Thursday, December 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. UBS Group upgraded shares of Shell from a “neutral” rating to a “buy” rating in a report on Wednesday, January 8th. Finally, Wolfe Research raised 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 report on Friday, January 3rd. One equities research 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 stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target 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.