TCTC Holdings LLC Sells 1,116 Shares of Shell plc (NYSE:SHEL)

TCTC Holdings LLC lowered its position in Shell plc (NYSE:SHEL) by 8.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,950 shares of the energy company’s stock after selling 1,116 shares during the period. TCTC Holdings LLC’s holdings in Shell were worth $749,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of SHEL. FMR LLC raised its position 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 valued at $4,306,465,000 after acquiring an additional 3,255,347 shares during the last quarter. Jennison Associates LLC grew its holdings in shares of Shell by 188.0% in the 3rd quarter. Jennison Associates LLC now owns 3,014,199 shares of the energy company’s stock valued at $198,786,000 after buying an additional 1,967,672 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Shell in the 4th quarter valued at $91,716,000. Holocene Advisors LP grew its holdings in shares of 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 buying an additional 866,954 shares during the period. Finally, Fisher Asset Management LLC grew its holdings in shares of Shell by 2.1% in the 3rd quarter. Fisher Asset Management LLC now owns 24,530,647 shares of the energy company’s stock valued at $1,617,796,000 after buying an additional 507,311 shares during the period. Institutional investors own 28.60% of the company’s stock.

Shell Trading Up 1.5 %

Shares of NYSE:SHEL opened at $68.78 on Monday. The company’s 50-day moving average price is $66.44 and its two-hundred day moving average price is $66.21. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.35 and a quick ratio of 1.10. Shell plc has a one year low of $60.15 and a one year high of $74.61. The stock has a market capitalization of $209.17 billion, a PE ratio of 13.70, a price-to-earnings-growth ratio of 0.98 and a beta of 0.47.

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%. On average, equities analysts forecast that Shell plc will post 7.67 EPS for the current fiscal year.

Shell Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Friday, February 14th will be issued a $0.716 dividend. This represents a $2.86 dividend on an annualized basis and a dividend yield of 4.16%. This is a boost from Shell’s previous quarterly dividend of $0.69. The ex-dividend date is Friday, February 14th. Shell’s dividend payout ratio is presently 56.97%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on SHEL. Morgan Stanley raised shares of Shell from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $66.50 to $79.80 in a report on Tuesday, January 7th. Piper Sandler decreased their price target on shares of Shell from $82.00 to $72.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. 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 note on Friday, January 3rd. Wells Fargo & Company reduced their target price on shares of Shell from $86.00 to $82.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Finally, UBS Group raised shares of Shell from a “neutral” rating to a “buy” rating in a research note on Wednesday, January 8th. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $79.11.

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.