Avidian Wealth Enterprises LLC Cuts Stock Holdings in Shell plc (NYSE:SHEL)

Avidian Wealth Enterprises LLC trimmed its position in shares of Shell plc (NYSE:SHEL) by 20.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,743 shares of the energy company’s stock after selling 5,575 shares during the quarter. Avidian Wealth Enterprises LLC’s holdings in Shell were worth $1,362,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of SHEL. Valley National Advisers Inc. boosted its holdings in Shell by 930.2% during the 4th quarter. Valley National Advisers Inc. now owns 443 shares of the energy company’s stock worth $27,000 after acquiring an additional 400 shares during the last quarter. Fortitude Family Office LLC purchased a new position in Shell during the 3rd quarter worth $30,000. Valley Wealth Managers Inc. purchased a new position in Shell during the 3rd quarter worth $33,000. Brooklyn Investment Group purchased a new position in Shell during the 3rd quarter worth $35,000. Finally, GHP Investment Advisors Inc. raised its stake in shares of Shell by 40.8% during the 3rd quarter. GHP Investment Advisors Inc. now owns 563 shares of the energy company’s stock worth $37,000 after purchasing an additional 163 shares during the period. 28.60% of the stock is owned by hedge funds and other institutional investors.

Shell Trading Down 0.9 %

Shares of SHEL opened at $66.75 on Thursday. The business’s 50-day moving average price is $64.42 and its 200-day moving average price is $67.00. Shell plc has a twelve month low of $60.15 and a twelve month high of $74.61. The stock has a market cap of $204.09 billion, a PE ratio of 13.30, a P/E/G ratio of 0.98 and a beta of 0.54. The company has a quick ratio of 1.10, a current ratio of 1.35 and a debt-to-equity ratio of 0.36.

Shell (NYSE:SHEL) last announced its quarterly 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, equities analysts forecast that Shell plc will post 7.46 EPS for the current fiscal year.

Shell Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Friday, February 14th will be given a dividend of $0.716 per share. The ex-dividend date is Friday, February 14th. This is a boost from Shell’s previous quarterly dividend of $0.69. This represents a $2.86 annualized dividend and a dividend yield of 4.29%. Shell’s dividend payout ratio is currently 54.78%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on SHEL shares. Piper Sandler lowered 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. Wolfe Research upgraded Shell from a “peer perform” rating to an “outperform” rating and set a $80.00 target price on the stock in a research note on Friday, January 3rd. Wells Fargo & Company lowered their target price on Shell from $86.00 to $82.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Morgan Stanley upgraded Shell from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $66.50 to $79.80 in a research note on Tuesday, January 7th. Finally, UBS Group upgraded Shell from a “neutral” rating to a “buy” rating in a research note on Wednesday, January 8th. One investment 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 company. According to MarketBeat.com, Shell has an average rating of “Buy” and a consensus price target of $79.11.

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.