Shell plc (NYSE:SHEL) Shares Sold by Brookmont Capital Management

Brookmont Capital Management cut its holdings in shares of Shell plc (NYSE:SHEL) by 0.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 63,915 shares of the energy company’s stock after selling 445 shares during the quarter. Shell comprises 2.1% of Brookmont Capital Management’s investment portfolio, making the stock its 13th biggest position. Brookmont Capital Management’s holdings in Shell were worth $4,004,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in SHEL. FMR LLC increased its stake in shares of Shell by 5.2% during the third quarter. FMR LLC now owns 65,298,943 shares of the energy company’s stock worth $4,306,465,000 after buying an additional 3,255,347 shares during the period. Fisher Asset Management LLC lifted its holdings in shares of Shell by 2.1% in the 3rd quarter. Fisher Asset Management LLC now owns 24,530,647 shares of the energy company’s stock valued at $1,617,796,000 after purchasing an additional 507,311 shares during the last quarter. Franklin Resources Inc. grew its position in shares of Shell by 0.9% during the third quarter. Franklin Resources Inc. now owns 5,972,945 shares of the energy company’s stock worth $408,430,000 after acquiring an additional 55,637 shares during the last quarter. Mawer Investment Management Ltd. raised its holdings in shares of Shell by 8.7% in the third quarter. Mawer Investment Management Ltd. now owns 5,282,868 shares of the energy company’s stock valued at $348,405,000 after buying an additional 422,329 shares during the last quarter. Finally, Holocene Advisors LP grew its stake in shares of 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 purchasing an additional 866,954 shares during the last quarter. Hedge funds and other institutional investors own 28.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on SHEL shares. Piper Sandler reduced their price objective on shares of Shell from $82.00 to $72.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Barclays upgraded shares of Shell to a “strong-buy” rating in a research report on Wednesday, October 2nd. Morgan Stanley upgraded shares of Shell from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $66.50 to $79.80 in a report on Tuesday, January 7th. UBS Group upgraded Shell from a “neutral” rating to a “buy” rating in a report on Wednesday, January 8th. Finally, Wells Fargo & Company dropped their price target on Shell from $87.00 to $86.00 and set an “overweight” rating for the company in a research note on Friday, January 10th. One analyst has rated the stock with a hold rating, eight have issued a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $79.69.

Shell Stock Performance

Shares of NYSE SHEL opened at $66.74 on Tuesday. Shell plc has a one year low of $60.15 and a one year high of $74.61. 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 business has a fifty day simple moving average of $64.19 and a 200 day simple moving average of $67.74. The firm has a market capitalization of $204.04 billion, a price-to-earnings ratio of 13.73, a PEG ratio of 5.96 and a beta of 0.55.

Shell Announces Dividend

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

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.