Shell plc (NYSE:SHEL) Shares Sold by Cibc World Market Inc.

Cibc World Market Inc. decreased its position in shares of Shell plc (NYSE:SHEL) by 1.5% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 347,412 shares of the energy company’s stock after selling 5,352 shares during the period. Cibc World Market Inc.’s holdings in Shell were worth $21,765,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. FMR LLC increased its position in 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 purchasing an additional 3,255,347 shares during the last quarter. Jennison Associates LLC increased its holdings in shares of Shell by 188.0% during the 3rd quarter. Jennison Associates LLC now owns 3,014,199 shares of the energy company’s stock worth $198,786,000 after buying an additional 1,967,672 shares during the last quarter. Holocene Advisors LP raised its position 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 worth $248,870,000 after buying an additional 866,954 shares during the period. Mediolanum International Funds Ltd purchased a new stake in Shell during the third quarter valued at about $37,274,000. Finally, Fisher Asset Management LLC raised 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 worth $1,617,796,000 after purchasing an additional 507,311 shares during the period. 28.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on SHEL shares. Scotiabank dropped their target price on shares of Shell from $90.00 to $80.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Piper Sandler cut their target price on shares of Shell from $82.00 to $72.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Wells Fargo & Company lowered their price target on Shell from $86.00 to $82.00 and set an “overweight” rating for the company in a report on Friday. UBS Group raised Shell from a “neutral” rating to a “buy” rating in a research report on Wednesday, January 8th. Finally, Wolfe Research upgraded Shell from a “peer perform” rating to an “outperform” rating and set a $80.00 target price on the stock in a report on Friday, January 3rd. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $79.11.

Shell Stock Down 1.3 %

Shares of NYSE:SHEL opened at $65.82 on Friday. The firm has a market cap of $201.23 billion, a PE ratio of 13.54, a price-to-earnings-growth ratio of 6.46 and a beta of 0.55. The company has a fifty day simple moving average of $64.17 and a 200 day simple moving average of $67.36. The company has a current ratio of 1.40, a quick ratio of 1.13 and a debt-to-equity ratio of 0.34. Shell plc has a 12-month low of $60.15 and a 12-month high of $74.61.

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 net margin of 5.17% and a return on equity of 14.54%. On average, equities research analysts anticipate that Shell plc will post 8.11 EPS for the current fiscal year.

Shell Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Friday, February 14th will be given a dividend of $0.716 per share. This is a positive change from Shell’s previous quarterly dividend of $0.69. This represents a $2.86 annualized dividend and a dividend yield of 4.35%. The ex-dividend date of this dividend is Friday, February 14th. Shell’s dividend payout ratio is currently 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.