Congress Wealth Management LLC DE Cuts Position in Shell plc (NYSE:SHEL)

Congress Wealth Management LLC DE trimmed its holdings in shares of Shell plc (NYSE:SHEL) by 4.7% in the fourth quarter, HoldingsChannel.com reports. The fund owned 13,633 shares of the energy company’s stock after selling 673 shares during the period. Congress Wealth Management LLC DE’s holdings in Shell were worth $854,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of SHEL. Foster Group Inc. increased its position in shares of Shell by 5.0% during the 4th quarter. Foster Group Inc. now owns 3,393 shares of the energy company’s stock valued at $213,000 after purchasing an additional 162 shares during the last quarter. Warther Private Wealth LLC increased its holdings in Shell by 5.5% during the fourth quarter. Warther Private Wealth LLC now owns 3,268 shares of the energy company’s stock worth $205,000 after buying an additional 169 shares during the last quarter. Klingman & Associates LLC raised its position in Shell by 5.2% in the fourth quarter. Klingman & Associates LLC now owns 3,421 shares of the energy company’s stock worth $214,000 after acquiring an additional 170 shares during the period. RHS Financial LLC boosted its stake in Shell by 3.1% in the fourth quarter. RHS Financial LLC now owns 5,667 shares of the energy company’s stock valued at $355,000 after acquiring an additional 173 shares during the last quarter. Finally, Doliver Advisors LP increased its stake in shares of Shell by 5.2% during the 4th quarter. Doliver Advisors LP now owns 3,632 shares of the energy company’s stock worth $228,000 after purchasing an additional 180 shares during the last quarter. Hedge funds and other institutional investors own 28.60% of the company’s stock.

Shell Stock Performance

NYSE SHEL opened at $73.35 on Friday. The company’s 50 day simple moving average is $67.56 and its two-hundred day simple moving average is $66.38. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.35 and a quick ratio of 1.10. Shell plc has a 1 year low of $60.15 and a 1 year high of $74.61. The stock has a market capitalization of $221.80 billion, a PE ratio of 14.61, a P/E/G ratio of 0.98 and a beta of 0.47.

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

Shell Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Friday, February 14th were issued a $0.716 dividend. This is a positive change from Shell’s previous quarterly dividend of $0.69. The ex-dividend date was Friday, February 14th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 3.90%. Shell’s dividend payout ratio is presently 56.97%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on SHEL shares. TD Cowen assumed coverage on Shell in a research note on Wednesday, March 19th. They issued a “buy” rating and a $81.00 price objective on the stock. Piper Sandler cut their price target on Shell from $82.00 to $72.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Morgan Stanley upgraded Shell from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $66.50 to $79.80 in a research note on Tuesday, January 7th. Wolfe Research upgraded shares of Shell from a “peer perform” rating to an “outperform” rating and set a $80.00 target price for the company in a research report on Friday, January 3rd. Finally, UBS Group upgraded shares of Shell from a “neutral” rating to a “buy” rating in a research note on Wednesday, January 8th. One investment analyst has rated the stock with a hold rating, nine have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $80.10.

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.