Parsons Capital Management Inc. RI Sells 1,838 Shares of Shell plc (NYSE:SHEL)

Parsons Capital Management Inc. RI lowered its position in shares of Shell plc (NYSE:SHEL) by 25.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,283 shares of the energy company’s stock after selling 1,838 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in Shell were worth $331,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. FMR LLC raised its stake in Shell by 5.2% during the 3rd 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 raised its position in shares of Shell by 188.0% during the third quarter. Jennison Associates LLC now owns 3,014,199 shares of the energy company’s stock worth $198,786,000 after purchasing an additional 1,967,672 shares during the period. Holocene Advisors LP lifted its holdings in shares of Shell by 29.8% during the 3rd quarter. Holocene Advisors LP now owns 3,773,617 shares of the energy company’s stock valued at $248,870,000 after purchasing an additional 866,954 shares in the last quarter. Mediolanum International Funds Ltd bought a new stake in Shell during the 3rd quarter worth approximately $37,274,000. Finally, Fisher Asset Management LLC raised its holdings 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 worth $1,617,796,000 after buying an additional 507,311 shares during the period. 28.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Wolfe Research raised 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. Scotiabank dropped their price target on Shell from $90.00 to $80.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Wells Fargo & Company decreased their price objective on Shell from $87.00 to $86.00 and set an “overweight” rating for the company in a report on Friday, January 10th. Piper Sandler cut their target price on Shell from $82.00 to $72.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Finally, UBS Group raised shares of Shell from a “neutral” rating to a “buy” rating in a research note on Wednesday, January 8th. One 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, Shell currently has a consensus rating of “Buy” and a consensus target price of $79.69.

Shell Stock Performance

Shares of SHEL stock opened at $64.61 on Wednesday. The stock has a market cap of $197.53 billion, a P/E ratio of 13.29, a P/E/G ratio of 5.89 and a beta of 0.55. The company has a fifty day moving average price of $64.19 and a two-hundred day moving average price of $67.44. Shell plc has a one year low of $60.15 and a one year high of $74.61. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.40 and a quick ratio of 1.13.

Shell (NYSE:SHEL) last issued its earnings results on Thursday, October 31st. The energy company reported $1.92 EPS for the quarter, topping the consensus estimate of $1.72 by $0.20. Shell had a return on equity of 14.54% and a net margin of 5.17%. The company had revenue of $72.46 billion during the quarter, compared to the consensus estimate of $84.58 billion. During the same period in the previous year, the company posted $1.86 EPS. As a group, equities analysts predict that Shell plc will post 8.16 EPS for the current year.

Shell Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Friday, November 15th were paid a $0.688 dividend. The ex-dividend date was Friday, November 15th. This represents a $2.75 dividend on an annualized basis and a yield of 4.26%. Shell’s dividend payout ratio (DPR) is currently 56.58%.

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.