Delta Asset Management LLC TN Reduces Position in Shell plc (NYSE:SHEL)

Delta Asset Management LLC TN reduced its position in Shell plc (NYSE:SHEL) by 30.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,480 shares of the energy company’s stock after selling 1,065 shares during the quarter. Delta Asset Management LLC TN’s holdings in Shell were worth $155,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of SHEL. Fisher Asset Management LLC increased its stake in Shell by 1.7% in the fourth quarter. Fisher Asset Management LLC now owns 24,938,735 shares of the energy company’s stock valued at $1,562,412,000 after purchasing an additional 408,088 shares during the period. Franklin Resources Inc. increased its holdings in shares of Shell by 0.9% in the third quarter. Franklin Resources Inc. now owns 5,972,945 shares of the energy company’s stock valued at $408,430,000 after purchasing an additional 55,637 shares during the period. Holocene Advisors LP raised its stake 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. Rockefeller Capital Management L.P. grew its position in Shell by 1.5% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 3,125,284 shares of the energy company’s stock valued at $206,116,000 after buying an additional 46,293 shares during the last quarter. Finally, Jennison Associates LLC increased its stake in Shell by 1.0% in the 4th quarter. Jennison Associates LLC now owns 3,045,043 shares of the energy company’s stock valued at $190,772,000 after buying an additional 30,844 shares during the period. 28.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SHEL. UBS Group upgraded shares of Shell from a “neutral” rating to a “buy” rating in a research note on Wednesday, January 8th. TD Securities increased their target price on Shell from $81.00 to $82.00 and gave the stock a “buy” rating in a research note on Wednesday, March 19th. Morgan Stanley upgraded Shell from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $66.50 to $79.80 in a research note on Tuesday, January 7th. Wolfe Research raised Shell from a “peer perform” rating to an “outperform” rating and set a $80.00 target price for the company in a report on Friday, January 3rd. Finally, Piper Sandler cut 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. One investment 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. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $80.10.

Shell Trading Up 1.3 %

Shares of SHEL opened at $73.00 on Thursday. The firm has a 50 day simple moving average of $67.43 and a 200-day simple moving average of $66.33. The stock has a market cap of $220.73 billion, a price-to-earnings ratio of 14.54, a price-to-earnings-growth ratio of 0.98 and a beta of 0.47. 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 1-year low of $60.15 and a 1-year high of $74.61.

Shell (NYSE:SHEL) last posted its quarterly earnings data on Thursday, January 30th. The energy company reported $1.20 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 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 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 represents a $2.86 dividend on an annualized basis and a yield of 3.92%. This is a positive change from Shell’s previous quarterly dividend of $0.69. Shell’s dividend payout ratio (DPR) 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.