US Bancorp DE Sells 10,700 Shares of Shell plc (NYSE:SHEL)

US Bancorp DE trimmed its stake in shares of Shell plc (NYSE:SHEL) by 2.8% during the 4th quarter, Holdings Channel.com reports. The fund owned 367,239 shares of the energy company’s stock after selling 10,700 shares during the quarter. US Bancorp DE’s holdings in Shell were worth $23,008,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Brighton Jones LLC grew its position in Shell by 51.7% during the 4th 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. Private Advisor Group LLC grew its position in Shell by 0.9% during the 4th quarter. Private Advisor Group LLC now owns 33,168 shares of the energy company’s stock worth $2,078,000 after acquiring an additional 301 shares during the last quarter. HF Advisory Group LLC lifted its holdings in Shell by 15.8% in the 4th quarter. HF Advisory Group LLC now owns 29,560 shares of the energy company’s stock worth $1,852,000 after buying an additional 4,028 shares during the period. Rockefeller Capital Management L.P. lifted its holdings in Shell by 1.5% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 3,125,284 shares of the energy company’s stock worth $206,116,000 after buying an additional 46,293 shares during the period. Finally, Lockheed Martin Investment Management Co. lifted its holdings in Shell by 266.1% in the 4th quarter. Lockheed Martin Investment Management Co. now owns 122,030 shares of the energy company’s stock worth $7,645,000 after buying an additional 88,700 shares during the period. 28.60% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on SHEL. Morgan Stanley upgraded Shell from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $66.50 to $79.80 in a report on Tuesday, January 7th. UBS Group upgraded Shell from a “neutral” rating to a “buy” rating in a report on Wednesday, January 8th. 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. Wolfe Research upgraded Shell from a “peer perform” rating to an “outperform” rating and set a $80.00 price objective for the company in a report on Friday, January 3rd. Finally, Piper Sandler lowered their target price on Shell from $82.00 to $72.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $79.11.

Shell Stock Up 0.2 %

SHEL stock opened at $67.42 on Monday. Shell plc has a twelve month low of $60.15 and a twelve month high of $74.61. The company has a quick ratio of 1.10, a current ratio of 1.35 and a debt-to-equity ratio of 0.36. The firm has a market cap of $205.03 billion, a PE ratio of 13.43, a price-to-earnings-growth ratio of 0.98 and a beta of 0.54. The business has a 50 day moving average of $65.49 and a 200 day moving average of $66.63.

Shell (NYSE:SHEL) last posted its quarterly earnings data on Thursday, January 30th. The energy company reported $1.20 earnings per share for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.54). Shell had a net margin of 5.57% and a return on equity of 12.75%. On average, research analysts forecast that Shell plc will post 7.67 EPS for the current fiscal year.

Shell Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Friday, February 14th will be given a dividend of $0.716 per share. This represents a $2.86 dividend on an annualized basis and a yield of 4.25%. The ex-dividend date of this dividend is Friday, February 14th. This is a positive change from Shell’s previous quarterly dividend of $0.69. Shell’s dividend payout ratio (DPR) is 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.