Peregrine Asset Advisers Inc. Sells 959 Shares of Shell plc (NYSE:SHEL)

Peregrine Asset Advisers Inc. cut its holdings in shares of Shell plc (NYSE:SHEL) by 14.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,860 shares of the energy company’s stock after selling 959 shares during the quarter. Peregrine Asset Advisers Inc.’s holdings in Shell were worth $367,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of SHEL. Valley National Advisers Inc. boosted its holdings in Shell by 930.2% in the 4th quarter. Valley National Advisers Inc. now owns 443 shares of the energy company’s stock worth $27,000 after buying an additional 400 shares during the period. Fortitude Family Office LLC bought a new position in shares of Shell in the third quarter worth $30,000. Human Investing LLC purchased a new position in shares of Shell in the fourth quarter valued at $31,000. Valley Wealth Managers Inc. purchased a new stake in Shell during the 3rd quarter worth about $33,000. Finally, Brooklyn Investment Group bought a new position in Shell in the 3rd quarter worth about $35,000. Hedge funds and other institutional investors own 28.60% of the company’s stock.

Shell Stock Down 2.5 %

SHEL opened at $66.67 on Friday. 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 business’s fifty day simple moving average is $64.89 and its 200 day simple moving average is $66.81. Shell plc has a 52 week low of $60.15 and a 52 week high of $74.61. The stock has a market cap of $202.75 billion, a PE ratio of 13.28, a P/E/G ratio of 0.98 and a beta of 0.54.

Shell (NYSE:SHEL) last announced 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%. As a group, research analysts expect that Shell plc will post 7.67 earnings per share for the current fiscal year.

Shell Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Friday, February 14th will be issued a dividend of $0.716 per share. The ex-dividend date is Friday, February 14th. This represents a $2.86 annualized dividend and a dividend yield of 4.30%. This is a positive change from Shell’s previous quarterly dividend of $0.69. Shell’s dividend payout ratio (DPR) is currently 56.97%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on SHEL shares. Wells Fargo & Company lowered their price target on shares of Shell from $86.00 to $82.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Piper Sandler lowered their target price on shares of 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 shares of Shell from a “peer perform” rating to an “outperform” rating and set a $80.00 price target for the company in a research report on Friday, January 3rd. 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 research report on Tuesday, January 7th. Finally, UBS Group upgraded Shell from a “neutral” rating to a “buy” rating in a research report on Wednesday, January 8th. One research 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’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $79.11.

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.