TIAA Trust National Association Cuts Stake in Shell plc (NYSE:SHEL)

TIAA Trust National Association lessened its position in Shell plc (NYSE:SHEL) by 8.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 11,709 shares of the energy company’s stock after selling 1,134 shares during the period. TIAA Trust National Association’s holdings in Shell were worth $734,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in SHEL. Modern Wealth Management LLC increased its holdings in Shell by 5.3% in the 4th quarter. Modern Wealth Management LLC now owns 6,410 shares of the energy company’s stock worth $424,000 after buying an additional 325 shares in the last quarter. Taikang Asset Management Hong Kong Co Ltd purchased a new position in shares of Shell during the fourth quarter valued at approximately $2,945,000. CoreFirst Bank & Trust purchased a new stake in Shell in the fourth quarter worth approximately $28,000. Forefront Wealth Management Inc. purchased a new stake in Shell during the 4th quarter valued at $2,255,000. Finally, American Century Companies Inc. grew its holdings in shares of Shell by 6.4% in the fourth quarter. American Century Companies Inc. now owns 897,154 shares of the energy company’s stock worth $56,207,000 after acquiring an additional 54,305 shares during the period. Hedge funds and other institutional investors own 28.60% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on SHEL shares. UBS Group upgraded shares of Shell from a “neutral” rating to a “buy” rating in a research report on Wednesday, January 8th. Piper Sandler decreased their target price on Shell from $82.00 to $72.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. TD Cowen started coverage on Shell in a report on Wednesday, March 19th. They set a “buy” rating and a $81.00 price target for the company. Morgan Stanley raised Shell from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $66.50 to $79.80 in a research note on Tuesday, January 7th. Finally, TD Securities increased their target price on shares of Shell from $81.00 to $82.00 and gave the stock a “buy” rating in a report on Wednesday, March 19th. One equities research analyst has rated the stock with a hold rating, nine have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, Shell has a consensus rating of “Buy” and a consensus price target of $80.10.

Shell Trading Up 0.4 %

Shell stock opened at $73.35 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.35 and a quick ratio of 1.10. The firm’s 50 day moving average price is $67.56 and its 200-day moving average price is $66.38. Shell plc has a 1 year low of $60.15 and a 1 year high of $74.61. The stock has a market cap of $221.80 billion, a P/E ratio of 14.61, a PEG ratio of 0.98 and a beta of 0.47.

Shell (NYSE:SHEL) last released its quarterly earnings data 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 net margin of 5.57% and a return on equity of 12.75%. On average, equities analysts predict that Shell plc will post 7.67 earnings per share for the current fiscal year.

Shell Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Friday, February 14th were issued a dividend of $0.716 per share. This represents a $2.86 annualized dividend and a dividend yield of 3.90%. 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 56.97%.

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.