Alhambra Investment Management LLC Lowers Stock Position in Shell plc (NYSE:SHEL)

Alhambra Investment Management LLC reduced its position in shares of Shell plc (NYSE:SHEL) by 19.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,749 shares of the energy company’s stock after selling 3,007 shares during the quarter. Alhambra Investment Management LLC’s holdings in Shell were worth $799,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of SHEL. FMR LLC increased its position in shares of Shell by 5.2% in the third quarter. FMR LLC now owns 65,298,943 shares of the energy company’s stock valued at $4,306,465,000 after buying an additional 3,255,347 shares in the last quarter. Empyrean Capital Partners LP purchased a new position in Shell during the second quarter valued at $151,578,000. Jennison Associates LLC raised its position in shares of Shell by 188.0% during the 3rd quarter. Jennison Associates LLC now owns 3,014,199 shares of the energy company’s stock worth $198,786,000 after purchasing an additional 1,967,672 shares during the last quarter. Holocene Advisors LP lifted its stake in Shell by 29.8% in the 3rd quarter. Holocene Advisors LP now owns 3,773,617 shares of the energy company’s stock valued at $248,870,000 after buying an additional 866,954 shares in the last quarter. Finally, Mediolanum International Funds Ltd purchased a new stake in Shell during the 3rd quarter worth approximately $37,274,000. Hedge funds and other institutional investors own 28.60% of the company’s stock.

Shell Stock Up 0.4 %

Shares of NYSE:SHEL opened at $66.74 on Friday. The company has a current ratio of 1.40, a quick ratio of 1.13 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $205.36 billion, a price-to-earnings ratio of 13.73, a PEG ratio of 5.60 and a beta of 0.55. The business has a 50-day moving average price of $64.19 and a 200 day moving average price of $67.86. Shell plc has a 12-month low of $60.15 and a 12-month high of $74.61.

Shell Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Friday, November 15th were issued a $0.688 dividend. The ex-dividend date was Friday, November 15th. This represents a $2.75 annualized dividend and a yield of 4.12%. Shell’s dividend payout ratio (DPR) is presently 56.58%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on SHEL. Sanford C. Bernstein upgraded Shell to a “strong-buy” rating in a research report on Friday, October 11th. Citigroup upgraded shares of Shell to a “hold” rating in a research report on Wednesday, October 2nd. Scotiabank dropped their price objective on shares of Shell from $90.00 to $80.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Barclays upgraded Shell to a “strong-buy” rating in a report on Wednesday, October 2nd. Finally, UBS Group upgraded Shell from a “neutral” rating to a “buy” rating in a research report on Wednesday, January 8th. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Shell currently has an average rating of “Buy” and an average target price of $79.69.

About Shell

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.