Trust Point Inc. Lowers Stake in Shell plc (NYSE:SHEL)

Trust Point Inc. trimmed its position in shares of Shell plc (NYSE:SHEL) by 4.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,057 shares of the energy company’s stock after selling 494 shares during the period. Trust Point Inc.’s holdings in Shell were worth $630,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. FMR LLC increased its stake 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 period. Jennison Associates LLC increased its stake in 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 period. Holocene Advisors LP boosted its position in 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 buying an additional 866,954 shares during the period. Mediolanum International Funds Ltd purchased a new stake in shares of Shell during the third quarter worth $37,274,000. Finally, Fisher Asset Management LLC raised its stake in shares of Shell by 2.1% in the third quarter. Fisher Asset Management LLC now owns 24,530,647 shares of the energy company’s stock valued at $1,617,796,000 after acquiring an additional 507,311 shares in the last quarter. 28.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Wells Fargo & Company reduced their price target on Shell from $86.00 to $82.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Scotiabank decreased their price target on shares of Shell from $90.00 to $80.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Sanford C. Bernstein upgraded shares of Shell to a “strong-buy” rating in a report on Friday, October 11th. Piper Sandler lowered their target price 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 raised their price target for the company from $66.50 to $79.80 in a research note on Tuesday, January 7th. 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 company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $79.11.

Shell Stock Up 2.3 %

SHEL stock opened at $66.66 on Wednesday. Shell plc has a one year low of $60.15 and a one year high of $74.61. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.10 and a current ratio of 1.35. The company has a fifty day moving average of $64.21 and a 200-day moving average of $67.19. The stock has a market capitalization of $203.80 billion, a PE ratio of 13.28, a price-to-earnings-growth ratio of 6.57 and a beta of 0.54.

Shell (NYSE:SHEL) last released its earnings results 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 return on equity of 12.75% and a net margin of 5.57%. As a group, analysts expect that Shell plc will post 7.27 EPS for the current year.

Shell Increases Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Friday, February 14th. This is a boost from Shell’s previous quarterly dividend of $0.69. This represents a $2.86 dividend on an annualized basis and a yield of 4.30%. Shell’s dividend payout ratio (DPR) is 54.78%.

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.