Shell plc (NYSE:SHEL) Shares Sold by First Horizon Advisors Inc.

First Horizon Advisors Inc. decreased its position in Shell plc (NYSE:SHEL) by 3.5% in the 4th quarter, HoldingsChannel reports. The firm owned 11,022 shares of the energy company’s stock after selling 403 shares during the period. First Horizon Advisors Inc.’s holdings in Shell were worth $691,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in SHEL. Valley National Advisers Inc. raised its stake in Shell by 930.2% in the 4th quarter. Valley National Advisers Inc. now owns 443 shares of the energy company’s stock valued at $27,000 after purchasing an additional 400 shares during the last quarter. Fortitude Family Office LLC acquired a new position in Shell in the 3rd quarter valued at about $30,000. Human Investing LLC acquired a new position in Shell in the 4th quarter valued at about $31,000. Valley Wealth Managers Inc. acquired a new position in shares of Shell during the 3rd quarter valued at about $33,000. Finally, Brooklyn Investment Group acquired a new position in shares of Shell during the 3rd quarter valued at about $35,000. Institutional investors and hedge funds own 28.60% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Shell Stock Up 0.3 %

NYSE SHEL opened at $66.90 on Tuesday. The stock has a market cap of $203.47 billion, a PE ratio of 13.33, a P/E/G ratio of 0.98 and a beta of 0.54. Shell plc has a fifty-two week low of $60.15 and a fifty-two week high of $74.61. The business has a 50 day moving average price of $64.99 and a two-hundred day moving average price of $66.73. The company has a quick ratio of 1.10, a current ratio of 1.35 and a debt-to-equity ratio of 0.36.

Shell (NYSE:SHEL) last released its quarterly earnings results on Thursday, January 30th. The energy company reported $1.20 earnings per share 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%. As a group, sell-side analysts predict that Shell plc will post 7.67 EPS for the current fiscal year.

Shell Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Friday, February 14th will be issued a $0.716 dividend. This represents a $2.86 dividend on an annualized basis and a yield of 4.28%. The ex-dividend date is Friday, February 14th. This is a boost from Shell’s previous quarterly dividend of $0.69. Shell’s dividend payout ratio is currently 56.97%.

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.