Wedge Capital Management L L P NC Trims Stock Position in Shell plc (NYSE:SHEL)

Wedge Capital Management L L P NC lowered its stake in Shell plc (NYSE:SHEL) by 0.7% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 262,003 shares of the energy company’s stock after selling 1,890 shares during the period. Wedge Capital Management L L P NC’s holdings in Shell were worth $17,240,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Provence Wealth Management Group purchased a new position in Shell during the third quarter worth about $26,000. VisionPoint Advisory Group LLC purchased a new position in Shell during the third quarter worth about $26,000. Rise Advisors LLC lifted its position in Shell by 84.4% during the fourth quarter. Rise Advisors LLC now owns 413 shares of the energy company’s stock worth $27,000 after buying an additional 189 shares during the period. Valley National Advisers Inc. increased its stake in Shell by 217.7% during the fourth quarter. Valley National Advisers Inc. now owns 413 shares of the energy company’s stock worth $27,000 after acquiring an additional 283 shares during the last quarter. Finally, Headlands Technologies LLC acquired a new stake in Shell during the third quarter worth about $32,000. 28.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, TheStreet upgraded Shell from a “c” rating to a “b-” rating in a research note on Monday, January 29th.

Shell Stock Performance

Shares of SHEL stock remained flat at $72.39 during mid-day trading on Tuesday. The stock had a trading volume of 706,487 shares, compared to its average volume of 4,725,300. The company has a current ratio of 1.40, a quick ratio of 1.13 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $232.92 billion, a price-to-earnings ratio of 12.79, a price-to-earnings-growth ratio of 2.22 and a beta of 0.62. The stock’s fifty day simple moving average is $66.85 and its 200-day simple moving average is $65.66. Shell plc has a one year low of $55.78 and a one year high of $73.94.

Shell (NYSE:SHEL) last issued its earnings results on Thursday, February 1st. The energy company reported $2.22 EPS for the quarter, topping the consensus estimate of $1.94 by $0.28. The business had revenue of $80.13 billion during the quarter, compared to analysts’ expectations of $89.59 billion. Shell had a return on equity of 14.69% and a net margin of 5.99%. During the same quarter last year, the firm posted $2.76 earnings per share. Analysts forecast that Shell plc will post 8.12 earnings per share for the current year.

Shell Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Friday, February 16th were given a $0.662 dividend. The ex-dividend date was Thursday, February 15th. This represents a $2.65 dividend on an annualized basis and a dividend yield of 3.66%. Shell’s dividend payout ratio is currently 48.59%.

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.