Signaturefd LLC Reduces Stock Holdings in Shell plc (NYSE:SHEL)

Signaturefd LLC trimmed its holdings in Shell plc (NYSE:SHEL) by 4.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 53,506 shares of the energy company’s stock after selling 2,570 shares during the period. Signaturefd LLC’s holdings in Shell were worth $3,352,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SHEL. Van Hulzen Asset Management LLC increased its position in Shell by 1.9% during the 4th quarter. Van Hulzen Asset Management LLC now owns 189,310 shares of the energy company’s stock worth $11,860,000 after purchasing an additional 3,533 shares in the last quarter. Patten & Patten Inc. TN grew its holdings in shares of Shell by 15.2% during the fourth quarter. Patten & Patten Inc. TN now owns 4,818 shares of the energy company’s stock worth $302,000 after buying an additional 635 shares in the last quarter. one8zero8 LLC acquired a new position in shares of Shell in the fourth quarter valued at approximately $207,000. Choate Investment Advisors boosted its position in Shell by 119.0% during the fourth quarter. Choate Investment Advisors now owns 7,500 shares of the energy company’s stock worth $470,000 after acquiring an additional 4,076 shares during the last quarter. Finally, Harbour Investment Management LLC raised its holdings in Shell by 1.9% in the 4th quarter. Harbour Investment Management LLC now owns 31,298 shares of the energy company’s stock valued at $1,961,000 after acquiring an additional 583 shares during the last quarter. Institutional investors and hedge funds own 28.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on SHEL. UBS Group upgraded Shell from a “neutral” rating to a “buy” rating in a report on Wednesday, January 8th. Piper Sandler lowered their price target on Shell from $82.00 to $72.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. 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 report on Friday, January 3rd. Finally, Wells Fargo & Company dropped their price objective on Shell from $86.00 to $82.00 and set an “overweight” rating for the company in a report on Friday, January 31st. One research analyst has rated the stock with a hold rating, eight have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $79.11.

Shell Stock Performance

Shares of NYSE:SHEL opened at $68.78 on Monday. The business’s 50-day simple moving average is $66.44 and its 200 day simple moving average is $66.21. The company has a market cap of $209.17 billion, a P/E ratio of 13.70, a PEG ratio of 0.98 and a beta of 0.47. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.10 and a current ratio of 1.35. Shell plc has a one year low of $60.15 and a one year high of $74.61.

Shell (NYSE:SHEL) last announced its 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%. On average, sell-side analysts forecast that Shell plc will post 7.67 earnings per share for the current fiscal year.

Shell Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Friday, February 14th will be issued a $0.716 dividend. The ex-dividend date is Friday, February 14th. This represents a $2.86 dividend on an annualized basis and a yield of 4.16%. This is an increase from Shell’s previous quarterly dividend of $0.69. Shell’s dividend payout ratio is currently 56.97%.

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.