Pzena Investment Management LLC Decreases Position in Shell plc (NYSE:SHEL)

Pzena Investment Management LLC reduced its position in shares of Shell plc (NYSE:SHEL - Free Report) by 3.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. 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 owned 0.12% of Shell worth $224,110,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of SHEL. CWA Asset Management Group LLC purchased a new stake in shares of Shell during the 3rd quarter worth about $934,000. Verdence Capital Advisors LLC boosted its stake in shares of Shell by 6.7% during the 3rd quarter. Verdence Capital Advisors LLC now owns 9,595 shares of the energy company's stock worth $633,000 after acquiring an additional 603 shares in the last quarter. Baker Avenue Asset Management LP boosted its stake in shares of Shell by 0.4% during the 3rd quarter. Baker Avenue Asset Management LP now owns 58,644 shares of the energy company's stock worth $3,868,000 after acquiring an additional 227 shares in the last quarter. Peregrine Asset Advisers Inc. boosted its stake in shares of Shell by 19.8% during the 3rd quarter. Peregrine Asset Advisers Inc. now owns 6,819 shares of the energy company's stock worth $450,000 after acquiring an additional 1,125 shares in the last quarter. Finally, Nations Financial Group Inc. IA ADV raised its position in shares of Shell by 8.3% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 3,209 shares of the energy company's stock worth $212,000 after purchasing an additional 247 shares during the last quarter. 28.60% of the stock is owned by hedge funds and other institutional investors.

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Shell Trading Up 0.0 %

Shares of Shell stock traded up $0.02 during mid-day trading on Tuesday, hitting $66.81. The stock had a trading volume of 4,796,140 shares, compared to its average volume of 4,251,209. The firm has a 50-day moving average of $66.08 and a two-hundred day moving average of $66.35. Shell plc has a 12-month low of $60.15 and a 12-month high of $74.61. 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 market cap of $203.18 billion, a P/E ratio of 13.31, a price-to-earnings-growth ratio of 0.98 and a beta of 0.47.

Shell (NYSE:SHEL - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The energy company reported $1.20 earnings per share 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%. Sell-side analysts forecast that Shell plc will post 7.67 earnings per share for the current year.

Shell Increases Dividend

The business 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. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 4.29%. This is a boost from Shell's previous quarterly dividend of $0.69. Shell's dividend payout ratio (DPR) is presently 56.97%.

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 reduced their price target 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. Morgan Stanley upgraded shares of Shell from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $66.50 to $79.80 in a research report on Tuesday, January 7th. Wells Fargo & Company cut their price objective on shares of Shell from $86.00 to $82.00 and set an "overweight" rating for the company in a report on Friday, January 31st. Finally, 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 report on Friday, January 3rd. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus 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.