Traynor Capital Management Inc. Decreases Holdings in Shell plc (NYSE:SHEL)

Traynor Capital Management Inc. reduced its stake in shares of Shell plc (NYSE:SHEL) by 2.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,874 shares of the energy company’s stock after selling 366 shares during the quarter. Traynor Capital Management Inc.’s holdings in Shell were worth $1,057,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. FMR LLC boosted its position in shares of Shell by 5.2% during the third 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. Empyrean Capital Partners LP purchased a new position in Shell during the 2nd quarter valued at $151,578,000. Jennison Associates LLC grew its position in 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 acquiring an additional 1,967,672 shares during the last quarter. Holocene Advisors LP lifted its position in shares of Shell by 29.8% during the third 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 last quarter. Finally, Mediolanum International Funds Ltd bought a new position in shares of Shell in the third quarter worth about $37,274,000. Hedge funds and other institutional investors own 28.60% of the company’s stock.

Shell Stock Down 1.2 %

NYSE:SHEL opened at $65.96 on Thursday. Shell plc has a fifty-two week low of $60.15 and a fifty-two week high of $74.61. The company’s 50-day simple moving average is $64.22 and its 200-day simple moving average is $67.68. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.13 and a current ratio of 1.40. The stock has a market capitalization of $201.69 billion, a P/E ratio of 13.57, a P/E/G ratio of 5.96 and a beta of 0.55.

Shell (NYSE:SHEL) last announced its earnings results on Thursday, October 31st. The energy company reported $1.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.20. The company had revenue of $72.46 billion for the quarter, compared to analyst estimates of $84.58 billion. Shell had a return on equity of 14.54% and a net margin of 5.17%. During the same period in the prior year, the company posted $1.86 EPS. On average, equities analysts anticipate that Shell plc will post 8.16 earnings per share for the current fiscal year.

Shell Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Friday, November 15th were given a dividend of $0.688 per share. This represents a $2.75 annualized dividend and a yield of 4.17%. The ex-dividend date was Friday, November 15th. Shell’s dividend payout ratio is presently 56.58%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on SHEL. Piper Sandler lowered their price objective 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. Scotiabank dropped their price objective on Shell from $90.00 to $80.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Sanford C. Bernstein raised Shell to a “strong-buy” rating in a research report on Friday, October 11th. Morgan Stanley upgraded Shell from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $66.50 to $79.80 in a research note on Tuesday, January 7th. Finally, UBS Group raised shares of Shell from a “neutral” rating to a “buy” rating in a research note on Wednesday, January 8th. One 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 company. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $79.69.

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.