Shell plc (NYSE:SHEL) Position Lessened by Cibc World Market Inc.

Cibc World Market Inc. cut its stake in Shell plc (NYSE:SHEL) by 1.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 347,412 shares of the energy company’s stock after selling 5,352 shares during the period. Cibc World Market Inc.’s holdings in Shell were worth $21,765,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in SHEL. Brighton Jones LLC increased its position in Shell by 51.7% in the 4th quarter. Brighton Jones LLC now owns 7,463 shares of the energy company’s stock valued at $468,000 after acquiring an additional 2,545 shares during the period. NorthCrest Asset Manangement LLC raised its stake in shares of Shell by 6.4% during the third quarter. NorthCrest Asset Manangement LLC now owns 3,741 shares of the energy company’s stock valued at $247,000 after purchasing an additional 225 shares in the last quarter. Rockefeller Capital Management L.P. lifted its holdings in Shell by 1.5% in the third quarter. Rockefeller Capital Management L.P. now owns 3,125,284 shares of the energy company’s stock worth $206,116,000 after purchasing an additional 46,293 shares during the period. HF Advisory Group LLC increased its stake in Shell by 15.8% during the 4th quarter. HF Advisory Group LLC now owns 29,560 shares of the energy company’s stock valued at $1,852,000 after buying an additional 4,028 shares during the period. Finally, Pacer Advisors Inc. raised its position in shares of Shell by 3.3% during the 4th quarter. Pacer Advisors Inc. now owns 1,008,002 shares of the energy company’s stock worth $63,151,000 after buying an additional 32,603 shares in the last quarter. 28.60% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

SHEL has been the topic of a number of research analyst reports. Piper Sandler lowered their price objective on shares of Shell from $82.00 to $72.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Wolfe Research raised Shell from a “peer perform” rating to an “outperform” rating and set a $80.00 price objective on the stock in a research note on Friday, January 3rd. UBS Group raised Shell from a “neutral” rating to a “buy” rating in a research note on Wednesday, January 8th. Morgan Stanley raised shares of Shell from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $66.50 to $79.80 in a report on Tuesday, January 7th. Finally, Sanford C. Bernstein raised shares of Shell to a “strong-buy” rating in a research note on Friday, October 11th. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $79.11.

Shell Stock Down 1.3 %

Shares of NYSE:SHEL opened at $65.82 on Friday. The firm has a 50 day simple moving average of $64.17 and a 200 day simple moving average of $67.36. Shell plc has a 52 week low of $60.15 and a 52 week high of $74.61. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.13 and a current ratio of 1.40. The company has a market cap of $201.23 billion, a PE ratio of 13.54, a price-to-earnings-growth ratio of 6.46 and a beta of 0.55.

Shell (NYSE:SHEL) last issued 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 14.54% and a net margin of 5.17%. As a group, research analysts expect that Shell plc will post 8.11 earnings per share for the current year.

Shell Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Friday, February 14th will be given a $0.716 dividend. This represents a $2.86 dividend on an annualized basis and a dividend yield of 4.35%. This is a positive change from Shell’s previous quarterly dividend of $0.69. The ex-dividend date is Friday, February 14th. Shell’s dividend payout ratio is 56.58%.

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.