Legacy Capital Wealth Partners LLC Reduces Position in Shell plc (NYSE:SHEL)

Legacy Capital Wealth Partners LLC decreased its holdings in shares of Shell plc (NYSE:SHEL) by 10.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,981 shares of the energy company’s stock after selling 695 shares during the quarter. Legacy Capital Wealth Partners LLC’s holdings in Shell were worth $375,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Foster Group Inc. boosted its holdings in shares of Shell by 5.0% during the fourth quarter. Foster Group Inc. now owns 3,393 shares of the energy company’s stock worth $213,000 after purchasing an additional 162 shares during the last quarter. GHP Investment Advisors Inc. boosted its holdings in shares of Shell by 40.8% during the third quarter. GHP Investment Advisors Inc. now owns 563 shares of the energy company’s stock worth $37,000 after purchasing an additional 163 shares during the last quarter. Warther Private Wealth LLC boosted its holdings in shares of Shell by 5.5% during the fourth quarter. Warther Private Wealth LLC now owns 3,268 shares of the energy company’s stock worth $205,000 after purchasing an additional 169 shares during the last quarter. RHS Financial LLC boosted its holdings in shares of Shell by 3.1% during the fourth quarter. RHS Financial LLC now owns 5,667 shares of the energy company’s stock worth $355,000 after purchasing an additional 173 shares during the last quarter. Finally, Doliver Advisors LP boosted its holdings in Shell by 5.2% in the fourth quarter. Doliver Advisors LP now owns 3,632 shares of the energy company’s stock valued at $228,000 after acquiring an additional 180 shares during the last quarter. Institutional investors and hedge funds own 28.60% of the company’s stock.

Shell Stock Down 0.3 %

Shares of NYSE SHEL opened at $67.16 on Monday. Shell plc has a 1 year low of $60.15 and a 1 year high of $74.61. The firm has a market cap of $205.33 billion, a price-to-earnings ratio of 13.38, a PEG ratio of 0.98 and a beta of 0.54. 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 stock’s 50-day simple moving average is $64.56 and its 200-day simple moving average is $66.89.

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 return on equity of 12.75% and a net margin of 5.57%. As a group, equities analysts anticipate that Shell plc will post 7.46 earnings per share for the current fiscal year.

Shell Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Friday, February 14th will be issued a $0.716 dividend. This is a positive change from Shell’s previous quarterly dividend of $0.69. This represents a $2.86 annualized dividend and a yield of 4.26%. The ex-dividend date is Friday, February 14th. Shell’s payout ratio is currently 54.78%.

Analyst Ratings Changes

A number of research analysts recently weighed in on SHEL shares. Wolfe Research upgraded Shell from a “peer perform” rating to an “outperform” rating and set a $80.00 target price on the stock in a report on Friday, January 3rd. Morgan Stanley upgraded Shell from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $66.50 to $79.80 in a report on Tuesday, January 7th. Piper Sandler reduced their target price on Shell from $82.00 to $72.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. UBS Group upgraded Shell from a “neutral” rating to a “buy” rating in a report on Wednesday, January 8th. Finally, Wells Fargo & Company cut their price objective on Shell from $86.00 to $82.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. One analyst has rated the stock with a hold rating, eight have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target 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.