Sanibel Captiva Trust Company Inc. Sells 1,132 Shares of Shell plc (NYSE:SHEL)

Sanibel Captiva Trust Company Inc. reduced its position in Shell plc (NYSE:SHEL) by 2.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 39,386 shares of the energy company’s stock after selling 1,132 shares during the period. Sanibel Captiva Trust Company Inc.’s holdings in Shell were worth $2,886,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently bought and sold shares of the company. Brighton Jones LLC increased its stake in Shell by 51.7% during the fourth quarter. Brighton Jones LLC now owns 7,463 shares of the energy company’s stock worth $468,000 after acquiring an additional 2,545 shares during the last quarter. Golden State Wealth Management LLC purchased a new stake in Shell during the fourth quarter worth $69,000. Kingsview Wealth Management LLC lifted its holdings in shares of Shell by 1.4% during the 4th quarter. Kingsview Wealth Management LLC now owns 16,325 shares of the energy company’s stock valued at $1,023,000 after purchasing an additional 220 shares during the last quarter. Entropy Technologies LP acquired a new position in shares of Shell in the 4th quarter valued at $1,023,000. Finally, Kestra Private Wealth Services LLC increased its position in shares of Shell by 30.1% in the 4th quarter. Kestra Private Wealth Services LLC now owns 36,920 shares of the energy company’s stock valued at $2,313,000 after acquiring an additional 8,539 shares during the period. 28.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on SHEL. Scotiabank dropped their target price on Shell from $75.00 to $70.00 and set a “sector outperform” rating on the stock in a research report on Friday, April 11th. TD Cowen reduced their price target on shares of Shell from $82.00 to $76.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. Piper Sandler boosted their price target on shares of Shell from $72.00 to $80.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 13th. Hsbc Global Res raised shares of Shell to a “strong-buy” rating in a research report on Tuesday, May 13th. Finally, TD Securities reissued a “buy” rating on shares of Shell in a research report on Friday, April 4th. One analyst has rated the stock with a hold rating, ten have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $78.26.

Shell Stock Performance

Shares of SHEL stock opened at $70.05 on Wednesday. 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 52 week low of $58.55 and a 52 week high of $74.46. The company has a market capitalization of $209.35 billion, a P/E ratio of 13.95, a price-to-earnings-growth ratio of 0.98 and a beta of 0.39. The company’s 50 day moving average price is $65.37 and its two-hundred day moving average price is $65.92.

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

Shell Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 23rd. Investors of record on Friday, May 16th will be given a $0.716 dividend. This represents a $2.86 dividend on an annualized basis and a yield of 4.09%. The ex-dividend date of this dividend is Friday, May 16th. Shell’s payout ratio is currently 65.90%.

Shell announced that its Board of Directors has initiated a share buyback plan on Friday, May 2nd that allows the company to buyback $3.50 billion in shares. This buyback authorization allows the energy company to reacquire up to 1.8% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

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.