Naviter Wealth LLC Sells 20,748 Shares of Shell plc (NYSE:SHEL)

Naviter Wealth LLC decreased its holdings in Shell plc (NYSE:SHEL - Free Report) by 25.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 61,755 shares of the energy company's stock after selling 20,748 shares during the period. Naviter Wealth LLC's holdings in Shell were worth $3,869,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. FMR LLC increased 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 buying an additional 3,255,347 shares during the period. Jennison Associates LLC increased its position in shares of Shell by 188.0% in the third quarter. Jennison Associates LLC now owns 3,014,199 shares of the energy company's stock valued at $198,786,000 after acquiring an additional 1,967,672 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Shell during the fourth quarter worth about $91,716,000. Holocene Advisors LP grew its stake in shares of 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 purchasing an additional 866,954 shares during the last quarter. Finally, Fisher Asset Management LLC raised its position in Shell by 2.1% during the 3rd quarter. Fisher Asset Management LLC now owns 24,530,647 shares of the energy company's stock valued at $1,617,796,000 after purchasing an additional 507,311 shares during the last quarter. Hedge funds and other institutional investors own 28.60% of the company's stock.

Shell Stock Up 0.9 %

Shares of NYSE SHEL traded up $0.61 during trading on Wednesday, reaching $67.42. The company had a trading volume of 5,154,935 shares, compared to its average volume of 4,268,833. The business's 50-day moving average is $66.16 and its 200 day moving average is $66.31. 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 stock has a market cap of $205.04 billion, a PE ratio of 13.43, a P/E/G ratio of 0.98 and a beta of 0.47. Shell plc has a 12-month low of $60.15 and a 12-month high of $74.61.

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Shell (NYSE:SHEL - Get Free Report) last issued its 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 return on equity of 12.75% and a net margin of 5.57%. As a group, equities analysts forecast that Shell plc will post 7.67 earnings per share for the current fiscal year.

Shell Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Friday, February 14th will be given a dividend of $0.716 per share. This represents a $2.86 dividend on an annualized basis and a yield of 4.25%. The ex-dividend date is Friday, February 14th. This is a boost from Shell's previous quarterly dividend of $0.69. Shell's dividend payout ratio is 56.97%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on SHEL shares. Wells Fargo & Company reduced their target price on Shell from $86.00 to $82.00 and set an "overweight" rating on the stock in a research note on Friday, January 31st. Morgan Stanley raised shares of Shell from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $66.50 to $79.80 in a research report on Tuesday, January 7th. 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. UBS Group upgraded shares of Shell from a "neutral" rating to a "buy" rating in a report on Wednesday, January 8th. Finally, Piper Sandler reduced their target price on Shell from $82.00 to $72.00 and set an "overweight" rating on the stock in a report 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 stock. According to data from MarketBeat.com, Shell presently has an average rating of "Buy" and an average price target of $79.11.

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.