Shell plc (NYSE:SHEL) Shares Sold by Ipswich Investment Management Co. Inc.

Ipswich Investment Management Co. Inc. cut its stake in shares of Shell plc (NYSE:SHEL) by 9.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,001 shares of the energy company’s stock after selling 2,116 shares during the period. Ipswich Investment Management Co. Inc.’s holdings in Shell were worth $1,253,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Brighton Jones LLC grew its position in Shell by 51.7% during the 4th quarter. Brighton Jones LLC now owns 7,463 shares of the energy company’s stock worth $468,000 after purchasing an additional 2,545 shares in the last quarter. NorthCrest Asset Manangement LLC raised its position in 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 buying an additional 225 shares during the period. HF Advisory Group LLC boosted its position in Shell by 15.8% during the 4th quarter. HF Advisory Group LLC now owns 29,560 shares of the energy company’s stock worth $1,852,000 after acquiring an additional 4,028 shares during the period. Rockefeller Capital Management L.P. increased its holdings in shares of Shell by 1.5% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 3,125,284 shares of the energy company’s stock valued at $206,116,000 after purchasing an additional 46,293 shares during the period. Finally, Lockheed Martin Investment Management Co. lifted its position in shares of Shell by 266.1% in the fourth quarter. Lockheed Martin Investment Management Co. now owns 122,030 shares of the energy company’s stock worth $7,645,000 after purchasing an additional 88,700 shares in the last quarter. 28.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Shell Trading Down 2.5 %

Shares of NYSE:SHEL opened at $66.67 on Friday. 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 0.36, a quick ratio of 1.10 and a current ratio of 1.35. The company has a market cap of $202.75 billion, a P/E ratio of 13.28, a P/E/G ratio of 0.98 and a beta of 0.54. The stock’s 50-day moving average is $64.89 and its 200-day moving average is $66.81.

Shell (NYSE:SHEL) last issued its quarterly 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%. Equities research analysts predict that Shell plc will post 7.67 earnings per share for the current year.

Shell Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Friday, February 14th will be paid a $0.716 dividend. This represents a $2.86 annualized dividend and a dividend yield of 4.30%. The ex-dividend date is Friday, February 14th. This is a boost from Shell’s previous quarterly dividend of $0.69. Shell’s dividend payout ratio (DPR) is presently 56.97%.

Shell Company 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.