Shell plc (NYSE:SHEL) Shares Sold by Drive Wealth Management LLC

Drive Wealth Management LLC lessened its position in Shell plc (NYSE:SHEL) by 9.7% in the 4th quarter, Holdings Channel reports. The fund owned 6,135 shares of the energy company’s stock after selling 662 shares during the period. Drive Wealth Management LLC’s holdings in Shell were worth $384,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Fortitude Family Office LLC acquired a new stake in shares of Shell during the 3rd quarter valued at approximately $30,000. Valley Wealth Managers Inc. acquired a new stake in shares of Shell during the 3rd quarter valued at approximately $33,000. Brooklyn Investment Group acquired a new stake in shares of Shell during the 3rd quarter valued at approximately $35,000. GHP Investment Advisors Inc. lifted its position 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 valued at $37,000 after acquiring an additional 163 shares during the period. Finally, Kieckhefer Group LLC acquired a new stake in shares of Shell during the 4th quarter valued at approximately $40,000. 28.60% of the stock is currently owned by institutional investors and hedge funds.

Shell Stock Down 0.4 %

Shares of NYSE SHEL opened at $65.12 on Tuesday. Shell plc has a 52-week low of $60.15 and a 52-week high of $74.61. The firm has a fifty day moving average of $64.21 and a 200-day moving average of $67.50. The stock has a market capitalization of $199.11 billion, a PE ratio of 13.40, a P/E/G ratio of 5.89 and a beta of 0.55. The company has a quick ratio of 1.13, a current ratio of 1.40 and a debt-to-equity ratio of 0.34.

Shell (NYSE:SHEL) last announced its quarterly earnings data on Thursday, October 31st. The energy company reported $1.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.20. Shell had a net margin of 5.17% and a return on equity of 14.54%. The company had revenue of $72.46 billion during the quarter, compared to analysts’ expectations of $84.58 billion. During the same period in the previous year, the company earned $1.86 EPS. On average, analysts anticipate that Shell plc will post 8.16 EPS for the current year.

Shell Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Friday, November 15th were paid a dividend of $0.688 per share. The ex-dividend date was Friday, November 15th. This represents a $2.75 annualized dividend and a dividend yield of 4.23%. Shell’s dividend payout ratio is presently 56.58%.

Analyst Ratings Changes

A number of research firms have recently issued reports on SHEL. Piper Sandler reduced their price target on shares of Shell from $82.00 to $72.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Scotiabank cut their price objective on Shell from $90.00 to $80.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Wells Fargo & Company cut their price objective on Shell from $87.00 to $86.00 and set an “overweight” rating for the company in a research report on Friday, January 10th. Citigroup upgraded Shell to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Barclays upgraded Shell to a “strong-buy” rating in a research report on Wednesday, October 2nd. One equities research 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, the company currently has a consensus rating of “Buy” and a consensus price target of $79.69.

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.