Shell plc (NYSE:SHEL) Holdings Trimmed by Fiduciary Trust Co

Fiduciary Trust Co trimmed its holdings in Shell plc (NYSE:SHEL) by 2.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 64,916 shares of the energy company’s stock after selling 1,844 shares during the quarter. Fiduciary Trust Co’s holdings in Shell were worth $4,067,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. Clark Capital Management Group Inc. boosted its position in shares of Shell by 14,434.6% in the 4th quarter. Clark Capital Management Group Inc. now owns 556,239 shares of the energy company’s stock valued at $34,848,000 after purchasing an additional 552,412 shares during the period. Cornerstone Select Advisors LLC acquired a new stake in shares of Shell during the fourth quarter valued at approximately $1,905,000. Bridgefront Capital LLC purchased a new stake in shares of Shell in the 4th quarter valued at approximately $225,000. Cary Street Partners Financial LLC purchased a new position in Shell during the 4th quarter worth approximately $5,047,000. Finally, Baird Financial Group Inc. raised its stake in Shell by 3.3% during the 4th quarter. Baird Financial Group Inc. now owns 123,284 shares of the energy company’s stock valued at $7,724,000 after purchasing an additional 3,884 shares during the period. Institutional investors and hedge funds own 28.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Royal Bank of Canada reiterated 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 research report on Monday, May 5th. Barclays reaffirmed an “overweight” rating on shares of Shell in a research report on Wednesday, March 26th. Scotiabank decreased their target price on shares of Shell from $75.00 to $70.00 and set a “sector outperform” rating for the company in a research note on Friday, April 11th. Finally, TD Securities reaffirmed 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 assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Shell has an average rating of “Buy” and a consensus target price of $77.35.

Shell Stock Performance

Shares of NYSE SHEL opened at $66.16 on Friday. The business’s 50-day simple moving average is $66.74 and its 200-day simple moving average is $65.85. Shell plc has a 52 week low of $58.55 and a 52 week high of $74.61. 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 market cap of $199.01 billion, a price-to-earnings ratio of 13.18, a P/E/G ratio of 0.98 and a beta of 0.38.

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

Shell declared that its Board of Directors has approved a stock buyback program on Friday, May 2nd that allows the company to repurchase $3.50 billion in outstanding shares. This repurchase authorization allows the energy company to repurchase up to 1.8% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

Shell Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 23rd. Stockholders of record on Friday, May 16th will be paid a $0.716 dividend. The ex-dividend date is Friday, May 16th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 4.33%. Shell’s payout ratio is presently 65.90%.

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.