Shell plc (NYSE:SHEL) Shares Sold by SouthState Corp

SouthState Corp cut its stake in shares of Shell plc (NYSE:SHEL) by 5.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 81,681 shares of the energy company’s stock after selling 4,764 shares during the quarter. SouthState Corp’s holdings in Shell were worth $5,117,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. FMR LLC grew its stake in shares of Shell by 5.2% during the 3rd quarter. FMR LLC now owns 65,298,943 shares of the energy company’s stock worth $4,306,465,000 after purchasing an additional 3,255,347 shares during the period. Fisher Asset Management LLC grew its stake in Shell by 1.7% in the 4th quarter. Fisher Asset Management LLC now owns 24,938,735 shares of the energy company’s stock valued at $1,562,412,000 after acquiring an additional 408,088 shares during the last quarter. Franklin Resources Inc. grew its stake in Shell by 0.9% in the 3rd quarter. Franklin Resources Inc. now owns 5,972,945 shares of the energy company’s stock valued at $408,430,000 after acquiring an additional 55,637 shares during the last quarter. Mawer Investment Management Ltd. grew its stake in Shell by 8.7% in the 3rd quarter. Mawer Investment Management Ltd. now owns 5,282,868 shares of the energy company’s stock valued at $348,405,000 after acquiring an additional 422,329 shares during the last quarter. Finally, Holocene Advisors LP grew its stake in Shell by 29.8% in the 3rd quarter. Holocene Advisors LP now owns 3,773,617 shares of the energy company’s stock valued at $248,870,000 after acquiring an additional 866,954 shares during the last quarter. 28.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on SHEL. UBS Group raised shares of Shell from a “neutral” rating to a “buy” rating in a research note on Wednesday, January 8th. Wolfe Research raised shares of 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. Wells Fargo & Company lowered their price objective on shares of Shell from $86.00 to $82.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Piper Sandler reduced their target price on shares of Shell from $82.00 to $72.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Finally, Morgan Stanley upgraded shares of Shell from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $66.50 to $79.80 in a report on Tuesday, January 7th. One 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. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $79.11.

Shell Trading Up 1.5 %

Shares of SHEL stock opened at $68.78 on Monday. The firm has a market cap of $209.17 billion, a P/E ratio of 13.70, a PEG ratio of 0.98 and a beta of 0.47. Shell plc has a 1-year low of $60.15 and a 1-year high of $74.61. 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 simple moving average is $66.44 and its 200-day simple moving average is $66.21.

Shell (NYSE:SHEL) last announced its quarterly earnings data 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 return on equity of 12.75% and a net margin of 5.57%. As a group, equities analysts forecast that Shell plc will post 7.67 EPS for the current year.

Shell Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Friday, February 14th will be given a dividend of $0.716 per share. This represents a $2.86 dividend on an annualized basis and a yield of 4.16%. The ex-dividend date is Friday, February 14th. This is an increase from Shell’s previous quarterly dividend of $0.69. 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.