Wedge Capital Management L L P NC Sells 5,602 Shares of Shell plc (NYSE:SHEL)

Wedge Capital Management L L P NC lessened its stake in Shell plc (NYSE:SHEL - Free Report) by 1.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 300,740 shares of the energy company's stock after selling 5,602 shares during the quarter. Wedge Capital Management L L P NC's holdings in Shell were worth $18,841,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Fairscale Capital LLC bought a new position in shares of Shell in the second quarter worth $33,000. Fortitude Family Office LLC bought a new position in Shell in the 3rd quarter worth about $30,000. Valley Wealth Managers Inc. bought a new stake in shares of Shell during the third quarter valued at about $33,000. Brooklyn Investment Group purchased a new stake in shares of Shell in the third quarter worth about $35,000. Finally, GHP Investment Advisors Inc. increased its holdings in Shell by 40.8% during the 3rd quarter. GHP Investment Advisors Inc. now owns 563 shares of the energy company's stock worth $37,000 after acquiring an additional 163 shares during the period. 28.60% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

SHEL has been the subject of a number of recent analyst reports. Barclays upgraded shares of Shell to a "strong-buy" rating in a research report on Wednesday, October 2nd. Sanford C. Bernstein upgraded Shell to a "strong-buy" rating in a research note on Friday, October 11th. Morgan Stanley raised 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 report on Tuesday, January 7th. Piper Sandler lowered their target price on shares of Shell from $82.00 to $72.00 and set an "overweight" rating on the stock in a research note on Thursday, December 19th. Finally, Wells Fargo & Company cut their price target on shares of Shell from $87.00 to $86.00 and set an "overweight" rating for the company in a research note on Friday, January 10th. 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. According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $79.69.

Shell Trading Up 0.4 %

NYSE:SHEL traded up $0.29 during midday trading on Friday, reaching $66.74. 3,486,045 shares of the stock traded hands, compared to its average volume of 3,512,029. The stock has a market capitalization of $205.36 billion, a P/E ratio of 13.73, a PEG ratio of 5.60 and a beta of 0.55. Shell plc has a 12 month low of $60.15 and a 12 month high of $74.61. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.13 and a current ratio of 1.40. The company has a fifty day moving average of $64.19 and a 200 day moving average of $67.82.

Shell Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Friday, November 15th were given a dividend of $0.688 per share. This represents a $2.75 dividend on an annualized basis and a yield of 4.12%. The ex-dividend date of this dividend was Friday, November 15th. Shell's payout ratio is 56.58%.

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.