Cullen Capital Management LLC Cuts Stock Holdings in Shell plc (NYSE:SHEL)

Cullen Capital Management LLC cut its stake in Shell plc (NYSE:SHEL) by 0.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 443,854 shares of the energy company’s stock after selling 3,876 shares during the period. Cullen Capital Management LLC’s holdings in Shell were worth $27,807,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. CoreFirst Bank & Trust acquired a new position in shares of Shell during the fourth quarter worth about $28,000. Valley National Advisers Inc. lifted its stake in Shell by 930.2% in the fourth 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. Human Investing LLC acquired a new position in Shell during the 4th quarter worth approximately $31,000. Millstone Evans Group LLC purchased a new stake in shares of Shell in the 4th quarter valued at approximately $36,000. Finally, Summit Securities Group LLC lifted its position in shares of Shell by 50.0% during the 4th quarter. Summit Securities Group LLC now owns 600 shares of the energy company’s stock worth $38,000 after purchasing an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 28.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on SHEL. Wolfe Research raised Shell from a “peer perform” rating to an “outperform” rating and set a $80.00 target price on the stock in a report on Friday, January 3rd. Royal Bank of Canada reissued an “outperform” rating on shares of Shell in a research report on Wednesday, March 26th. TD Securities upped their price target on Shell from $81.00 to $82.00 and gave the company a “buy” rating in a report on Wednesday, March 19th. TD Cowen initiated coverage on shares of Shell in a research report on Wednesday, March 19th. They set a “buy” rating and a $81.00 price objective for the company. Finally, Barclays reaffirmed an “overweight” rating on shares of Shell in a research report on Wednesday, March 26th. One analyst has rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $80.10.

Shell Trading Down 8.1 %

NYSE SHEL opened at $64.13 on Friday. Shell plc has a one year low of $60.15 and a one year high of $74.61. The firm has a market cap of $193.92 billion, a PE ratio of 12.78, a P/E/G ratio of 0.98 and a beta of 0.27. The firm’s fifty day moving average is $68.12 and its two-hundred day moving average is $66.54. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.10 and a current ratio of 1.35.

Shell (NYSE:SHEL) last posted its quarterly earnings data on Thursday, January 30th. The energy company reported $1.20 EPS 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%. Analysts expect that Shell plc will post 7.67 earnings per share for the current year.

Shell Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Friday, February 14th were paid a $0.716 dividend. This is a boost from Shell’s previous quarterly dividend of $0.69. This represents a $2.86 annualized dividend and a yield of 4.47%. The ex-dividend date of this dividend was Friday, February 14th. Shell’s payout ratio is currently 56.97%.

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.