Principal Street Partners LLC Sells 11,423 Shares of Shell plc (NYSE:SHEL)

Principal Street Partners LLC reduced its position in shares of Shell plc (NYSE:SHEL) by 66.6% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 5,717 shares of the energy company’s stock after selling 11,423 shares during the quarter. Principal Street Partners LLC’s holdings in Shell were worth $358,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. CoreFirst Bank & Trust bought a new stake in shares of Shell during the 4th quarter worth $28,000. Valley National Advisers Inc. boosted its holdings in Shell by 930.2% in the 4th quarter. Valley National Advisers Inc. now owns 443 shares of the energy company’s stock valued at $27,000 after purchasing an additional 400 shares during the period. Human Investing LLC bought a new stake in Shell in the 4th quarter valued at $31,000. Transce3nd LLC bought a new stake in Shell in the 4th quarter valued at $34,000. Finally, Millstone Evans Group LLC bought a new stake in Shell in the 4th quarter valued at $36,000. 28.60% of the stock is owned by institutional investors.

Shell Trading Down 0.1%

Shares of SHEL stock opened at $66.59 on Wednesday. The stock has a market cap of $200.31 billion, a price-to-earnings ratio of 13.26, a P/E/G ratio of 0.98 and a beta of 0.38. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.10 and a current ratio of 1.35. The firm has a fifty day moving average of $66.76 and a 200-day moving average of $65.87. Shell plc has a 52-week low of $58.55 and a 52-week high of $74.46.

Shell (NYSE:SHEL) last announced its earnings results on Friday, May 2nd. The energy company reported $1.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.54 by $0.30. The business had revenue of $69.23 billion during the quarter, compared to analysts’ expectations of $79.18 billion. Shell had a net margin of 5.57% and a return on equity of 12.75%. During the same quarter last year, the company posted $2.40 EPS. On average, equities research analysts forecast that Shell plc will post 7.67 earnings per share for the current fiscal year.

Shell Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 23rd. Shareholders of record on Friday, May 16th will be given a $0.716 dividend. This represents a $2.86 annualized dividend and a yield of 4.30%. The ex-dividend date is Friday, May 16th. Shell’s payout ratio is presently 65.90%.

Shell announced that its board has authorized a stock repurchase plan on Friday, May 2nd that authorizes the company to repurchase $3.50 billion in shares. This repurchase authorization authorizes the energy company to reacquire up to 1.8% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Royal Bank of Canada reissued an “outperform” rating on shares of Shell in a report on Wednesday, March 26th. Wells Fargo & Company reduced their price target on shares of Shell from $83.00 to $80.00 and set an “overweight” rating for the company in a report on Monday, May 5th. Barclays reissued an “overweight” rating on shares of Shell in a report on Wednesday, March 26th. Piper Sandler increased their price target on shares of Shell from $72.00 to $80.00 and gave the company an “overweight” rating in a report on Tuesday, May 13th. Finally, TD Securities restated a “buy” rating on shares of Shell in a research note on Friday, April 4th. One research analyst has rated the stock with a hold rating, eleven have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $78.35.

Shell 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.