Shell plc (NYSE:SHEL) Shares Sold by Cullen Capital Management LLC

Cullen Capital Management LLC trimmed its stake in shares of Shell plc (NYSE:SHEL) by 0.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 443,854 shares of the energy company’s stock after selling 3,876 shares during the period. Cullen Capital Management LLC’s holdings in Shell were worth $27,807,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

A number of research firms recently weighed in on SHEL. Barclays restated an “overweight” rating on shares of Shell in a research report on Wednesday, March 26th. TD Cowen initiated coverage on Shell in a research report on Wednesday, March 19th. They issued a “buy” rating and a $81.00 price target for the company. 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. Royal Bank of Canada restated an “outperform” rating on shares of Shell in a report on Wednesday, March 26th. Finally, Wolfe Research raised shares of Shell from a “peer perform” rating to an “outperform” rating and set a $80.00 price target on the stock in a research report on Friday, January 3rd. One research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $80.10.

Shell Trading Down 8.1 %

Shares of SHEL stock opened at $64.13 on Friday. The company has a 50-day moving average of $68.12 and a two-hundred day moving average of $66.54. The firm has a market cap of $193.92 billion, a PE ratio of 12.78, a price-to-earnings-growth ratio of 0.98 and a beta of 0.27. Shell plc has a 1-year low of $60.15 and a 1-year high of $74.61. 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 (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 net margin of 5.57% and a return on equity of 12.75%. On average, analysts predict that Shell plc will post 7.67 EPS for the current 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 issued a dividend of $0.716 per share. This represents a $2.86 dividend on an annualized basis and a yield of 4.47%. This is a boost from Shell’s previous quarterly dividend of $0.69. The ex-dividend date was Friday, February 14th. 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.