Forvis Mazars Wealth Advisors LLC Has $471,000 Stock Holdings in Shell plc (NYSE:SHEL)

Forvis Mazars Wealth Advisors LLC trimmed its position in shares of Shell plc (NYSE:SHEL) by 29.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,526 shares of the energy company’s stock after selling 3,084 shares during the quarter. Forvis Mazars Wealth Advisors LLC’s holdings in Shell were worth $471,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Valley National Advisers Inc. lifted its stake in shares of Shell by 930.2% in the fourth quarter. Valley National Advisers Inc. now owns 443 shares of the energy company’s stock worth $27,000 after acquiring an additional 400 shares during the period. Fortitude Family Office LLC acquired a new position in shares of Shell in the third quarter worth approximately $30,000. Human Investing LLC acquired a new position in shares of Shell in the fourth quarter worth approximately $31,000. Valley Wealth Managers Inc. acquired a new position in shares of Shell in the third quarter worth approximately $33,000. Finally, Brooklyn Investment Group bought a new stake in Shell in the third quarter worth approximately $35,000. 28.60% of the stock is owned by institutional investors and hedge funds.

Shell Trading Up 0.3 %

Shares of Shell stock opened at $66.90 on Tuesday. The stock has a fifty day simple moving average of $64.99 and a 200 day simple moving average of $66.73. Shell plc has a 12-month low of $60.15 and a 12-month high of $74.61. The company has a market capitalization of $203.47 billion, a P/E ratio of 13.33, a price-to-earnings-growth ratio of 0.98 and a beta of 0.54. The company has a current ratio of 1.35, a quick ratio of 1.10 and a debt-to-equity ratio of 0.36.

Shell (NYSE:SHEL) last announced its quarterly earnings results on Thursday, January 30th. The energy company reported $1.20 earnings per share (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%. On average, sell-side analysts anticipate that Shell plc will post 7.67 earnings per share for the current fiscal year.

Shell Increases Dividend

The firm also recently disclosed 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. The ex-dividend date is Friday, February 14th. This represents a $2.86 annualized dividend and a yield of 4.28%. This is a boost from Shell’s previous quarterly dividend of $0.69. Shell’s payout ratio is currently 56.97%.

Wall Street Analyst Weigh In

SHEL has been the subject of a number of research analyst reports. Morgan Stanley upgraded Shell from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $66.50 to $79.80 in a report on Tuesday, January 7th. Wells Fargo & Company decreased their price objective on Shell from $86.00 to $82.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Piper Sandler decreased their price objective on Shell from $82.00 to $72.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Wolfe Research upgraded Shell from a “peer perform” rating to an “outperform” rating and set a $80.00 price objective for the company in a report on Friday, January 3rd. Finally, UBS Group upgraded Shell from a “neutral” rating to a “buy” rating in a report on Wednesday, January 8th. One 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 stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $79.11.

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.