Shell plc (NYSE:SHEL) Stock Position Reduced by Douglas Lane & Associates LLC

Douglas Lane & Associates LLC lowered its stake in shares of Shell plc (NYSE:SHEL) by 13.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 618,316 shares of the energy company’s stock after selling 96,226 shares during the period. Douglas Lane & Associates LLC’s holdings in Shell were worth $38,737,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. InvesTrust purchased a new position in Shell in the fourth quarter valued at about $4,965,000. Doliver Advisors LP raised its position in Shell by 5.2% during the fourth quarter. Doliver Advisors LP now owns 3,632 shares of the energy company’s stock valued at $228,000 after acquiring an additional 180 shares in the last quarter. CWA Asset Management Group LLC grew its position in Shell by 28.0% in the fourth quarter. CWA Asset Management Group LLC now owns 18,133 shares of the energy company’s stock worth $1,136,000 after acquiring an additional 3,970 shares in the last quarter. Old Port Advisors raised its holdings in shares of Shell by 8.5% during the 4th quarter. Old Port Advisors now owns 4,149 shares of the energy company’s stock valued at $260,000 after purchasing an additional 325 shares in the last quarter. Finally, Birmingham Capital Management Co. Inc. AL boosted its holdings in Shell by 11.2% in the third quarter. Birmingham Capital Management Co. Inc. AL now owns 11,078 shares of the energy company’s stock worth $731,000 after purchasing an additional 1,113 shares in the last quarter. 28.60% of the stock is currently owned by hedge funds and other institutional investors.

Shell Stock Performance

Shell stock traded down $1.52 on Wednesday, hitting $64.41. The company’s stock had a trading volume of 3,908,626 shares, compared to its average volume of 4,355,674. The company has a fifty day moving average price of $64.50 and a 200-day moving average price of $68.15. The firm has a market cap of $198.21 billion, a P/E ratio of 13.25, a price-to-earnings-growth ratio of 4.84 and a beta of 0.55. Shell plc has a one year low of $60.15 and a one year high of $74.61. The company has a quick ratio of 1.13, a current ratio of 1.40 and a debt-to-equity ratio of 0.34.

Shell Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Friday, November 15th were issued a dividend of $0.688 per share. This represents a $2.75 dividend on an annualized basis and a yield of 4.27%. The ex-dividend date was Friday, November 15th. Shell’s payout ratio is 56.58%.

Wall Street Analyst Weigh In

SHEL has been the subject of a number of analyst reports. Scotiabank reduced their price target on Shell from $90.00 to $80.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Citigroup upgraded Shell to a “hold” rating in a report on Wednesday, October 2nd. Morgan Stanley raised shares of Shell from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $66.50 to $79.80 in a report on Tuesday. Piper Sandler dropped their target price on shares of Shell from $82.00 to $72.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Finally, Wells Fargo & Company lowered their price target on Shell from $88.00 to $87.00 and set an “overweight” rating on the stock in a research report on Monday, December 9th. One research analyst has rated the stock with a hold rating, eight have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, Shell presently has an average rating of “Buy” and a consensus price target of $79.83.

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.