Trust Point Inc. Reduces Holdings in Shell plc (NYSE:SHEL)

Trust Point Inc. cut its holdings in Shell plc (NYSE:SHEL) by 4.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,057 shares of the energy company’s stock after selling 494 shares during the quarter. Trust Point Inc.’s holdings in Shell were worth $630,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC raised its holdings in shares of Shell by 51.7% in the fourth quarter. Brighton Jones LLC now owns 7,463 shares of the energy company’s stock worth $468,000 after acquiring an additional 2,545 shares during the last quarter. NorthCrest Asset Manangement LLC lifted its holdings in Shell by 6.4% in the 3rd 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. grew its holdings in shares of Shell by 1.5% during 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 buying an additional 46,293 shares in the last quarter. HF Advisory Group LLC raised its position in shares of Shell by 15.8% in the fourth 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 last quarter. Finally, Pacer Advisors Inc. boosted its position in Shell by 3.3% during the fourth quarter. Pacer Advisors Inc. now owns 1,008,002 shares of the energy company’s stock worth $63,151,000 after acquiring an additional 32,603 shares during the last quarter. 28.60% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently issued reports on SHEL. Morgan Stanley upgraded 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 report on Tuesday, January 7th. Wolfe Research upgraded Shell from a “peer perform” rating to an “outperform” rating and set a $80.00 price target for the company in a report on Friday, January 3rd. Sanford C. Bernstein raised shares of Shell to a “strong-buy” rating in a research report on Friday, October 11th. Piper Sandler dropped their price target on shares of Shell from $82.00 to $72.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Finally, Scotiabank lowered their price objective on shares of Shell from $90.00 to $80.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. One equities research 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 data from MarketBeat, Shell has a consensus rating of “Buy” and an average price target of $79.11.

Shell Trading Up 2.3 %

NYSE SHEL opened at $66.66 on Wednesday. The company’s fifty day simple moving average is $64.21 and its 200-day simple moving average is $67.19. The stock has a market cap of $203.80 billion, a P/E ratio of 13.28, a PEG ratio of 6.57 and a beta of 0.54. Shell plc has a 52 week low of $60.15 and a 52 week high of $74.61. 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 earnings results on Thursday, January 30th. The energy company reported $1.20 earnings per share 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%. Equities research analysts predict that Shell plc will post 7.27 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. Stockholders of record on Friday, February 14th will be paid a dividend of $0.716 per share. This is a boost from Shell’s previous quarterly dividend of $0.69. This represents a $2.86 annualized dividend and a dividend yield of 4.30%. The ex-dividend date is Friday, February 14th. Shell’s dividend payout ratio is 54.78%.

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.