Shell plc (NYSE:SHEL) Shares Sold by Pinnacle Financial Partners Inc

Pinnacle Financial Partners Inc reduced its stake in shares of Shell plc (NYSE:SHEL) by 37.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 89,934 shares of the energy company’s stock after selling 53,745 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in Shell were worth $5,634,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Valley National Advisers Inc. raised its position in Shell by 930.2% during the fourth quarter. Valley National Advisers Inc. now owns 443 shares of the energy company’s stock valued at $27,000 after acquiring an additional 400 shares in the last quarter. Fortitude Family Office LLC purchased a new position in Shell during the third quarter valued at approximately $30,000. Human Investing LLC purchased a new position in Shell during the fourth quarter valued at approximately $31,000. Valley Wealth Managers Inc. purchased a new stake in shares of Shell in the third quarter valued at approximately $33,000. Finally, Brooklyn Investment Group purchased a new stake in shares of Shell in the third quarter valued at approximately $35,000. 28.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Wells Fargo & Company cut their price objective on Shell from $86.00 to $82.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. UBS Group upgraded Shell from a “neutral” rating to a “buy” rating in a research report on Wednesday, January 8th. Piper Sandler cut their price objective on Shell from $82.00 to $72.00 and set an “overweight” rating for the company in a research report 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 report on Tuesday, January 7th. Finally, Wolfe Research upgraded Shell from a “peer perform” rating to an “outperform” rating and set a $80.00 price objective for the company in a research report on Friday, January 3rd. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $79.11.

Shell Stock Down 2.5 %

Shares of SHEL opened at $66.67 on Friday. 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 plc has a one year low of $60.15 and a one year high of $74.61. The stock has a market capitalization of $202.75 billion, a price-to-earnings ratio of 13.28, a PEG ratio of 0.98 and a beta of 0.54. The stock has a 50 day moving average price of $64.89 and a 200 day moving average price of $66.79.

Shell (NYSE:SHEL) last released its quarterly earnings data on Thursday, January 30th. The energy company reported $1.20 earnings per share for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.54). Shell had a return on equity of 12.75% and a net margin of 5.57%. Equities research analysts forecast 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 will be paid on Monday, March 24th. Shareholders of record on Friday, February 14th will be paid a dividend of $0.716 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.86 dividend on an annualized basis and a yield of 4.30%. This is a positive change from Shell’s previous quarterly dividend of $0.69. Shell’s payout ratio is 56.97%.

Shell Company 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.