Shell plc (NYSE:SHEL) Shares Sold by Pinnacle Financial Partners Inc

Pinnacle Financial Partners Inc lessened its holdings in Shell plc (NYSE:SHEL) by 37.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 89,934 shares of the energy company’s stock after selling 53,745 shares during the period. Pinnacle Financial Partners Inc’s holdings in Shell were worth $5,634,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of SHEL. FMR LLC raised its holdings in shares of Shell by 5.2% in the 3rd quarter. FMR LLC now owns 65,298,943 shares of the energy company’s stock valued at $4,306,465,000 after buying an additional 3,255,347 shares during the period. Jennison Associates LLC raised 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. Holocene Advisors LP increased its holdings in Shell by 29.8% during the 3rd quarter. Holocene Advisors LP now owns 3,773,617 shares of the energy company’s stock worth $248,870,000 after purchasing an additional 866,954 shares during the period. Fisher Asset Management LLC increased its holdings in Shell by 2.1% during the 3rd quarter. Fisher Asset Management LLC now owns 24,530,647 shares of the energy company’s stock worth $1,617,796,000 after purchasing an additional 507,311 shares during the period. Finally, Merewether Investment Management LP increased its holdings in Shell by 41.0% during the 3rd quarter. Merewether Investment Management LP now owns 1,544,764 shares of the energy company’s stock worth $101,877,000 after purchasing an additional 449,000 shares during the period. Hedge funds and other institutional investors own 28.60% of the company’s stock.

Wall Street Analyst Weigh In

SHEL has been the topic of several recent research reports. Wells Fargo & Company cut their price target on Shell from $86.00 to $82.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Morgan Stanley upgraded Shell from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $66.50 to $79.80 in a report on Tuesday, January 7th. UBS Group upgraded Shell from a “neutral” rating to a “buy” rating in a report on Wednesday, January 8th. Wolfe Research upgraded Shell from a “peer perform” rating to an “outperform” rating and set a $80.00 price target on the stock in a report on Friday, January 3rd. Finally, Piper Sandler dropped their price objective on Shell from $82.00 to $72.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $79.11.

Shell Stock Down 2.5 %

Shares of NYSE SHEL opened at $66.67 on Friday. The stock has a market cap of $202.75 billion, a PE ratio of 13.28, a price-to-earnings-growth ratio of 0.98 and a beta of 0.54. The company has a quick ratio of 1.10, a current ratio of 1.35 and a debt-to-equity ratio of 0.36. Shell plc has a 52-week low of $60.15 and a 52-week high of $74.61. The business has a 50-day moving average price of $64.89 and a 200 day moving average price of $66.79.

Shell (NYSE:SHEL) last announced its earnings results on Thursday, January 30th. The energy company reported $1.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 forecast that Shell plc will post 7.67 earnings per share for the current year.

Shell Increases Dividend

The company 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 $0.716 dividend. The ex-dividend date of this dividend is Friday, February 14th. This is a boost from Shell’s previous quarterly dividend of $0.69. This represents a $2.86 dividend on an annualized basis and a dividend yield of 4.30%. 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.