PNC Financial Services Group Inc. trimmed its position in shares of Shell plc (NYSE:SHEL - Free Report) by 0.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 884,892 shares of the energy company's stock after selling 5,288 shares during the period. PNC Financial Services Group Inc.'s holdings in Shell were worth $55,438,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Valley National Advisers Inc. grew its stake in shares of Shell by 930.2% in the fourth 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 purchased a new stake in Shell during the 4th quarter worth about $31,000. Valley Wealth Managers Inc. acquired a new stake in Shell in the 3rd quarter valued at about $33,000. Brooklyn Investment Group acquired a new position in shares of Shell during the third quarter worth about $35,000. Finally, Sierra Ocean LLC acquired a new stake in Shell in the fourth quarter valued at approximately $39,000. 28.60% of the stock is currently owned by hedge funds and other institutional investors.
Shell Price Performance
NYSE SHEL traded up $0.40 during mid-day trading on Thursday, hitting $67.78. The stock had a trading volume of 8,864,021 shares, compared to its average volume of 4,366,168. 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 company has a market cap of $206.13 billion, a price-to-earnings ratio of 13.50, a P/E/G ratio of 0.98 and a beta of 0.47. Shell plc has a 52-week low of $60.15 and a 52-week high of $74.61. The company has a 50 day simple moving average of $66.26 and a 200 day simple moving average of $66.31.
Shell (NYSE:SHEL - Get Free Report) 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%. Equities analysts forecast that Shell plc will post 7.67 EPS for the current fiscal year.
Shell Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Friday, February 14th will be given a $0.716 dividend. The ex-dividend date is Friday, February 14th. This represents a $2.86 annualized dividend and a dividend yield of 4.23%. This is a positive change from Shell's previous quarterly dividend of $0.69. Shell's dividend payout ratio is presently 56.97%.
Analyst Ratings Changes
SHEL has been the topic of several recent analyst reports. Wells Fargo & Company dropped their target price on Shell from $86.00 to $82.00 and set an "overweight" rating on the stock in a report on Friday, January 31st. Morgan Stanley raised Shell from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $66.50 to $79.80 in a report on Tuesday, January 7th. UBS Group raised shares of Shell from a "neutral" rating to a "buy" rating in a report on Wednesday, January 8th. Wolfe Research upgraded Shell from a "peer perform" rating to an "outperform" rating and set a $80.00 target price on the stock in a research report on Friday, January 3rd. Finally, Piper Sandler decreased their price objective on Shell from $82.00 to $72.00 and set an "overweight" rating for the company in a report on Thursday, December 19th. One investment 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 MarketBeat.com, Shell has an average rating of "Buy" and an average target price of $79.11.
Check Out Our Latest Stock Analysis on Shell
About Shell
(
Free Report)
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.
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