Shell plc (NYSE:SHEL) Shares Sold by Hennessy Advisors Inc.

Hennessy Advisors Inc. cut its holdings in shares of Shell plc (NYSE:SHEL) by 3.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 78,100 shares of the energy company’s stock after selling 2,800 shares during the period. Hennessy Advisors Inc.’s holdings in Shell were worth $4,893,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Fairscale Capital LLC acquired a new position in Shell in the second quarter valued at $33,000. Fortitude Family Office LLC acquired a new position in Shell in the 3rd quarter valued at about $30,000. Valley Wealth Managers Inc. purchased a new stake in Shell during the 3rd quarter valued at approximately $33,000. Brooklyn Investment Group acquired a new stake in Shell during the 3rd quarter worth approximately $35,000. Finally, GHP Investment Advisors Inc. increased its holdings in shares of Shell by 40.8% in the third quarter. GHP Investment Advisors Inc. now owns 563 shares of the energy company’s stock valued at $37,000 after purchasing an additional 163 shares during the period. Hedge funds and other institutional investors own 28.60% of the company’s stock.

Shell Stock Up 0.4 %

Shell stock opened at $66.74 on Friday. The firm has a market capitalization of $205.36 billion, a price-to-earnings ratio of 13.73, a price-to-earnings-growth ratio of 5.60 and a beta of 0.55. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.13 and a current ratio of 1.40. Shell plc has a fifty-two week low of $60.15 and a fifty-two week high of $74.61. The stock’s fifty day moving average is $64.19 and its two-hundred day moving average is $67.86.

Shell Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Friday, November 15th were given a dividend of $0.688 per share. This represents a $2.75 dividend on an annualized basis and a yield of 4.12%. The ex-dividend date of this dividend was Friday, November 15th. Shell’s payout ratio is currently 56.58%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on SHEL shares. Wells Fargo & Company lowered their price objective on shares of Shell from $87.00 to $86.00 and set an “overweight” rating on the stock in a research report on Friday, January 10th. Morgan Stanley upgraded shares of Shell from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $66.50 to $79.80 in a research note on Tuesday, January 7th. Sanford C. Bernstein raised Shell to a “strong-buy” rating in a report on Friday, October 11th. Barclays raised Shell to a “strong-buy” rating in a research note on Wednesday, October 2nd. Finally, Piper Sandler decreased their price target on Shell from $82.00 to $72.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, Shell has an average rating of “Buy” and a consensus price target of $79.69.

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.