Wambolt & Associates LLC Cuts Stake in Shell plc (NYSE:SHEL)

Wambolt & Associates LLC cut its holdings in Shell plc (NYSE:SHEL) by 22.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 32,780 shares of the energy company’s stock after selling 9,384 shares during the period. Wambolt & Associates LLC’s holdings in Shell were worth $2,054,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Foster Group Inc. lifted its stake in Shell by 5.0% in 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. Warther Private Wealth LLC grew its stake in Shell by 5.5% in 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 in the last quarter. Klingman & Associates LLC raised its position in Shell by 5.2% during the 4th quarter. Klingman & Associates LLC now owns 3,421 shares of the energy company’s stock valued at $214,000 after purchasing an additional 170 shares in the last quarter. RHS Financial LLC lifted its holdings in shares of Shell by 3.1% in the 4th quarter. RHS Financial LLC now owns 5,667 shares of the energy company’s stock worth $355,000 after buying an additional 173 shares during the period. Finally, Doliver Advisors LP increased its stake in shares of Shell by 5.2% during the fourth quarter. Doliver Advisors LP now owns 3,632 shares of the energy company’s stock valued at $228,000 after buying an additional 180 shares during the period. 28.60% of the stock is currently owned by hedge funds and other institutional investors.

Shell Trading Up 0.5 %

NYSE:SHEL opened at $71.33 on Tuesday. Shell plc has a 12 month low of $60.15 and a 12 month high of $74.61. The firm has a fifty day simple moving average of $67.17 and a 200-day simple moving average of $66.24. The company has a current ratio of 1.35, a quick ratio of 1.10 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $215.69 billion, a P/E ratio of 14.21, a PEG ratio of 0.98 and a beta of 0.47.

Shell (NYSE:SHEL) last posted 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%. On average, equities research analysts anticipate that Shell plc will post 7.67 earnings per share for the current year.

Shell Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Friday, February 14th were given a dividend of $0.716 per share. The ex-dividend date of this dividend was Friday, February 14th. This is a positive change from Shell’s previous quarterly dividend of $0.69. This represents a $2.86 dividend on an annualized basis and a yield of 4.02%. Shell’s payout ratio is presently 56.97%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Piper Sandler dropped 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. 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 report on Friday, January 3rd. Morgan Stanley raised Shell from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $66.50 to $79.80 in a research report on Tuesday, January 7th. TD Securities upped their price objective on Shell from $81.00 to $82.00 and gave the stock a “buy” rating in a research note on Wednesday, March 19th. Finally, 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 report on Friday, January 31st. One research analyst has rated the stock with a hold rating, nine have issued a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Shell presently has an average rating of “Buy” and an average target price of $79.48.

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.