Estabrook Capital Management Sells 469 Shares of Shell plc (NYSE:SHEL)

Estabrook Capital Management lowered its holdings in shares of Shell plc (NYSE:SHEL) by 5.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,655 shares of the energy company’s stock after selling 469 shares during the period. Estabrook Capital Management’s holdings in Shell were worth $480,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Cutler Capital Management LLC raised its holdings in shares of Shell by 0.8% in the 4th quarter. Cutler Capital Management LLC now owns 110,826 shares of the energy company’s stock worth $6,943,000 after buying an additional 894 shares in the last quarter. Advisory Services Network LLC grew its position in Shell by 6.4% during the 4th quarter. Advisory Services Network LLC now owns 33,765 shares of the energy company’s stock worth $2,115,000 after acquiring an additional 2,033 shares during the last quarter. Elgethun Capital Management raised its position in Shell by 15.2% in the 4th quarter. Elgethun Capital Management now owns 3,553 shares of the energy company’s stock valued at $223,000 after purchasing an additional 470 shares during the last quarter. Rathbones Group PLC grew its holdings in shares of Shell by 231.5% during the fourth quarter. Rathbones Group PLC now owns 130,889 shares of the energy company’s stock worth $8,125,000 after purchasing an additional 91,411 shares during the last quarter. Finally, Bank of Montreal Can raised its holdings in shares of Shell by 3.6% in the fourth quarter. Bank of Montreal Can now owns 707,033 shares of the energy company’s stock valued at $44,296,000 after buying an additional 24,888 shares during the last quarter. 28.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Royal Bank of Canada reaffirmed an “outperform” rating on shares of Shell in a report on Wednesday, March 26th. UBS Group upgraded shares of Shell from a “neutral” rating to a “buy” rating in a research report on Wednesday, January 8th. Barclays restated an “overweight” rating on shares of Shell in a research report on Wednesday, March 26th. TD Cowen cut their target price on Shell from $82.00 to $76.00 and set a “buy” rating on the stock in a research note on Tuesday. Finally, Wells Fargo & Company lowered their price target on Shell from $87.00 to $83.00 and set an “overweight” rating for the company in a research note on Tuesday. One research analyst has rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Shell presently has an average rating of “Buy” and an average price target of $78.98.

Shell Stock Down 4.3 %

Shares of Shell stock opened at $59.62 on Wednesday. The firm has a market cap of $180.26 billion, a PE ratio of 11.88, a P/E/G ratio of 0.98 and a beta of 0.27. Shell plc has a 52-week low of $58.79 and a 52-week high of $74.61. The business’s 50 day simple moving average is $67.86 and its 200 day simple moving average is $66.36. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.10 and a current ratio of 1.35.

Shell (NYSE:SHEL) last announced its earnings results on Thursday, January 30th. The energy company reported $1.20 EPS for the quarter, missing the consensus estimate of $1.74 by ($0.54). Shell had a return on equity of 12.75% and a net margin of 5.57%. On average, analysts predict that Shell plc will post 7.67 earnings per share for the current fiscal year.

Shell Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Friday, February 14th were issued a $0.716 dividend. This represents a $2.86 annualized dividend and a dividend yield of 4.80%. The ex-dividend date was Friday, February 14th. This is an increase from Shell’s previous quarterly dividend of $0.69. Shell’s dividend payout ratio is presently 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.