Pzena Investment Management LLC Has $224.11 Million Stock Position in Shell plc (NYSE:SHEL)

Pzena Investment Management LLC reduced its holdings in Shell plc (NYSE:SHEL) by 3.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,577,175 shares of the energy company’s stock after selling 122,342 shares during the quarter. Pzena Investment Management LLC’s holdings in Shell were worth $224,110,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of SHEL. Valley National Advisers Inc. boosted its holdings in shares of Shell by 930.2% in the 4th quarter. Valley National Advisers Inc. now owns 443 shares of the energy company’s stock worth $27,000 after acquiring an additional 400 shares in the last quarter. Human Investing LLC acquired a new position in shares of Shell in the 4th quarter worth approximately $31,000. Valley Wealth Managers Inc. acquired a new position in shares of Shell in the 3rd quarter worth approximately $33,000. Brooklyn Investment Group acquired a new position in shares of Shell in the 3rd quarter worth approximately $35,000. Finally, Sierra Ocean LLC acquired a new position in shares of Shell in the 4th quarter worth approximately $39,000. 28.60% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. UBS Group upgraded shares of Shell from a “neutral” rating to a “buy” rating in a research report on Wednesday, January 8th. Piper Sandler dropped their price objective on shares of Shell from $82.00 to $72.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Wolfe Research upgraded shares of 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. Morgan Stanley upgraded shares of Shell from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $66.50 to $79.80 in a research report on Tuesday, January 7th. Finally, Wells Fargo & Company dropped their target price on shares of Shell from $86.00 to $82.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. One research 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 company’s stock. Based on data from MarketBeat, Shell presently has a consensus rating of “Buy” and a consensus target price of $79.11.

Shell Price Performance

Shares of SHEL stock opened at $66.81 on Tuesday. Shell plc has a 12-month low of $60.15 and a 12-month high of $74.61. The firm has a market capitalization of $203.17 billion, a price-to-earnings ratio of 13.31, a price-to-earnings-growth ratio of 0.98 and a beta of 0.47. The company has a quick ratio of 1.10, a current ratio of 1.35 and a debt-to-equity ratio of 0.36. The firm has a fifty day moving average of $66.08 and a 200-day moving average of $66.35.

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 the consensus estimate of $1.74 by ($0.54). Shell had a net margin of 5.57% and a return on equity of 12.75%. On average, equities research analysts forecast that Shell plc will post 7.67 earnings per share for the current year.

Shell Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Friday, February 14th will be paid a $0.716 dividend. The ex-dividend date of this dividend is Friday, February 14th. This is a positive change from Shell’s previous quarterly dividend of $0.69. This represents a $2.86 dividend on an annualized basis and a yield of 4.29%. Shell’s dividend payout ratio is presently 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.