Wrapmanager Inc. Reduces Position in Shell plc (NYSE:SHEL)

Wrapmanager Inc. reduced its position in shares of Shell plc (NYSE:SHEL) by 7.6% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 7,896 shares of the energy company’s stock after selling 649 shares during the quarter. Wrapmanager Inc.’s holdings in Shell were worth $495,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. FMR LLC grew its stake in shares of Shell by 5.2% in 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 stake in shares of Shell by 188.0% during the third quarter. Jennison Associates LLC now owns 3,014,199 shares of the energy company’s stock valued at $198,786,000 after buying an additional 1,967,672 shares during the period. Holocene Advisors LP lifted its stake in Shell by 29.8% in the third quarter. Holocene Advisors LP now owns 3,773,617 shares of the energy company’s stock worth $248,870,000 after acquiring an additional 866,954 shares during the period. Fisher Asset Management LLC boosted its holdings in 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. Finally, Merewether Investment Management LP raised its holdings in Shell by 41.0% in the 3rd quarter. Merewether Investment Management LP now owns 1,544,764 shares of the energy company’s stock worth $101,877,000 after purchasing an additional 449,000 shares in the last quarter. Institutional investors own 28.60% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Wolfe Research upgraded shares of Shell from a “peer perform” rating to an “outperform” rating and set a $80.00 price target on the stock in a research report on Friday, January 3rd. Morgan Stanley raised Shell from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $66.50 to $79.80 in a research report on Tuesday, January 7th. UBS Group raised Shell from a “neutral” rating to a “buy” rating in a research note on Wednesday, January 8th. Piper Sandler lowered 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. Finally, Wells Fargo & Company decreased their price target on shares of Shell from $86.00 to $82.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $79.11.

Shell Stock Up 0.3 %

NYSE:SHEL opened at $66.90 on Tuesday. The firm has a 50-day simple moving average of $64.99 and a two-hundred day simple moving average of $66.73. The firm has a market cap of $203.47 billion, a P/E ratio of 13.33, a P/E/G ratio of 0.98 and a beta of 0.54. Shell plc has a fifty-two week low of $60.15 and a fifty-two week 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.

Shell (NYSE:SHEL) last announced its quarterly 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 5.57% and a return on equity of 12.75%. Analysts predict that Shell plc will post 7.67 earnings per share for the current fiscal year.

Shell Increases Dividend

The company 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. This is an increase from Shell’s previous quarterly dividend of $0.69. The ex-dividend date is Friday, February 14th. This represents a $2.86 dividend on an annualized basis and a yield of 4.28%. Shell’s dividend payout ratio is currently 56.97%.

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.