Capital Research Global Investors Cuts Position in Shell plc (NYSE:SHEL)

Capital Research Global Investors lessened its position in shares of Shell plc (NYSE:SHEL) by 0.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 765,650 shares of the energy company’s stock after selling 1,720 shares during the period. Capital Research Global Investors’ holdings in Shell were worth $47,968,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of SHEL. Valley National Advisers Inc. raised its stake in Shell by 930.2% in the fourth quarter. Valley National Advisers Inc. now owns 443 shares of the energy company’s stock valued at $27,000 after buying an additional 400 shares in the last quarter. CoreFirst Bank & Trust acquired a new stake in shares of Shell during the 4th quarter worth about $28,000. Human Investing LLC purchased a new stake in Shell during the fourth quarter worth approximately $31,000. Millstone Evans Group LLC purchased a new position in Shell in the fourth quarter valued at approximately $36,000. Finally, Summit Securities Group LLC raised its holdings in Shell by 50.0% during the fourth quarter. Summit Securities Group LLC now owns 600 shares of the energy company’s stock worth $38,000 after purchasing an additional 200 shares in the last quarter. 28.60% of the stock is currently owned by institutional investors and hedge funds.

Shell Trading Down 0.6 %

Shares of SHEL opened at $64.67 on Tuesday. The firm has a market capitalization of $195.55 billion, a P/E ratio of 12.88, a PEG ratio of 0.98 and a beta of 0.27. 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 firm’s 50-day moving average is $67.27 and its two-hundred day moving average is $66.06. Shell plc has a twelve month low of $58.55 and a twelve month high of $74.61.

Shell (NYSE:SHEL) last released its quarterly earnings results on Thursday, January 30th. The energy company reported $1.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.74 by ($0.54). Shell had a return on equity of 12.75% and a net margin of 5.57%. On average, research analysts predict that Shell plc will post 7.67 earnings per share 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 paid a $0.716 dividend. This is an increase from Shell’s previous quarterly dividend of $0.69. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.86 annualized dividend and a yield of 4.43%. Shell’s payout ratio is presently 56.97%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on SHEL shares. TD Cowen dropped their target price on shares of Shell from $82.00 to $76.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. UBS Group upgraded Shell from a “neutral” rating to a “buy” rating in a research note on Wednesday, January 8th. Wolfe Research upgraded shares of Shell from a “peer perform” rating to an “outperform” rating and set a $80.00 price target for the company in a research note on Friday, January 3rd. Morgan Stanley raised Shell from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $66.50 to $79.80 in a report on Tuesday, January 7th. Finally, Royal Bank of Canada restated an “outperform” rating on shares of Shell in a research note on Wednesday, March 26th. One investment analyst has rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $77.73.

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.