Shell plc (NYSE:SHEL) Shares Sold by NewEdge Wealth LLC

NewEdge Wealth LLC reduced its holdings in Shell plc (NYSE:SHEL) by 2.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 34,393 shares of the energy company’s stock after selling 906 shares during the period. NewEdge Wealth LLC’s holdings in Shell were worth $2,155,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Whipplewood Advisors LLC acquired a new stake in shares of Shell in the fourth quarter worth approximately $138,000. Bryn Mawr Capital Management LLC boosted its stake in shares of Shell by 3.5% in the fourth quarter. Bryn Mawr Capital Management LLC now owns 5,900 shares of the energy company’s stock worth $370,000 after acquiring an additional 200 shares during the last quarter. Argonautica Private Wealth Management Inc. boosted its stake in shares of Shell by 5.7% in the fourth quarter. Argonautica Private Wealth Management Inc. now owns 6,355 shares of the energy company’s stock worth $398,000 after acquiring an additional 342 shares during the last quarter. DMKC Advisory Services LLC acquired a new stake in shares of Shell in the fourth quarter worth approximately $1,899,000. Finally, Denali Advisors LLC boosted its stake in shares of Shell by 1.1% in the fourth quarter. Denali Advisors LLC now owns 17,001 shares of the energy company’s stock worth $1,065,000 after acquiring an additional 182 shares during the last quarter. 28.60% of the stock is owned by institutional investors and hedge funds.

Shell Price Performance

NYSE:SHEL opened at $67.42 on Friday. Shell plc has a 52 week low of $60.15 and a 52 week high of $74.61. The company has a quick ratio of 1.10, a current ratio of 1.35 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $205.03 billion, a P/E ratio of 13.43, a P/E/G ratio of 0.98 and a beta of 0.54. The stock’s fifty day moving average is $65.49 and its two-hundred day moving average is $66.67.

Shell (NYSE:SHEL) last posted its earnings results 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 expect that Shell plc will post 7.67 EPS for the current 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 represents a $2.86 annualized dividend and a dividend yield of 4.25%. The ex-dividend date of this dividend is Friday, February 14th. This is an increase from Shell’s previous quarterly dividend of $0.69. Shell’s payout ratio is currently 56.97%.

Analyst Ratings Changes

SHEL has been the topic of a number of research analyst reports. Wells Fargo & Company lowered their price target on Shell from $86.00 to $82.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. UBS Group upgraded Shell from a “neutral” rating to a “buy” rating in a research report on Wednesday, January 8th. Wolfe Research upgraded Shell from a “peer perform” rating to an “outperform” rating and set a $80.00 price objective on the stock in a research report on Friday, January 3rd. Piper Sandler reduced their price objective on Shell from $82.00 to $72.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Finally, Morgan Stanley upgraded Shell from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $66.50 to $79.80 in a research report on Tuesday, January 7th. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Shell has a consensus rating of “Buy” and a consensus target price of $79.11.

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.