Shell plc (NYSE:SHEL) Shares Sold by Legacy Capital Wealth Partners LLC

Legacy Capital Wealth Partners LLC trimmed its position in Shell plc (NYSE:SHEL) by 10.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,981 shares of the energy company’s stock after selling 695 shares during the quarter. Legacy Capital Wealth Partners LLC’s holdings in Shell were worth $375,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of SHEL. SG Americas Securities LLC purchased a new position in shares of Shell in the 3rd quarter valued at $121,000. Creative Planning grew its position in shares of Shell by 4.8% in the 3rd quarter. Creative Planning now owns 306,491 shares of the energy company’s stock valued at $20,213,000 after buying an additional 13,904 shares during the last quarter. Good Life Advisors LLC grew its position in shares of Shell by 11.9% in the 3rd quarter. Good Life Advisors LLC now owns 4,368 shares of the energy company’s stock valued at $288,000 after buying an additional 463 shares during the last quarter. Blue Trust Inc. grew its position in shares of Shell by 58.3% in the 3rd quarter. Blue Trust Inc. now owns 31,015 shares of the energy company’s stock valued at $2,239,000 after buying an additional 11,428 shares during the last quarter. Finally, First Citizens Bank & Trust Co. purchased a new position in shares of Shell in the 3rd quarter valued at $207,000. 28.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Shell Stock Performance

Shares of SHEL stock opened at $67.16 on Monday. The company has a market cap of $205.33 billion, a price-to-earnings ratio of 13.38, a price-to-earnings-growth ratio of 0.98 and a beta of 0.54. The stock has a 50 day simple moving average of $64.56 and a 200-day simple moving average of $66.89. Shell plc has a 12-month low of $60.15 and a 12-month high of $74.61. The company has a current ratio of 1.35, a quick ratio of 1.10 and a debt-to-equity ratio of 0.36.

Shell (NYSE:SHEL) last issued 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 return on equity of 12.75% and a net margin of 5.57%. On average, equities analysts forecast that Shell plc will post 7.46 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 paid a $0.716 dividend. This is an increase from Shell’s previous quarterly dividend of $0.69. This represents a $2.86 annualized dividend and a yield of 4.26%. The ex-dividend date of this dividend is Friday, February 14th. Shell’s dividend payout ratio (DPR) is presently 54.78%.

Shell Company 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.