Wellington Shields Capital Management LLC Sells 1,175 Shares of Shell plc (NYSE:SHEL)

Wellington Shields Capital Management LLC reduced its stake in Shell plc (NYSE:SHEL) by 4.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,450 shares of the energy company’s stock after selling 1,175 shares during the period. Wellington Shields Capital Management LLC’s holdings in Shell were worth $1,532,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Foster Group Inc. increased its holdings in shares of Shell by 5.0% in the fourth quarter. Foster Group Inc. now owns 3,393 shares of the energy company’s stock worth $213,000 after purchasing an additional 162 shares during the period. Warther Private Wealth LLC increased its stake in Shell by 5.5% in the 4th quarter. Warther Private Wealth LLC now owns 3,268 shares of the energy company’s stock worth $205,000 after acquiring an additional 169 shares during the last quarter. Klingman & Associates LLC raised its holdings in shares of Shell by 5.2% in the 4th quarter. Klingman & Associates LLC now owns 3,421 shares of the energy company’s stock valued at $214,000 after acquiring an additional 170 shares in the last quarter. RHS Financial LLC grew its holdings in shares of Shell by 3.1% during the fourth quarter. RHS Financial LLC now owns 5,667 shares of the energy company’s stock worth $355,000 after purchasing an additional 173 shares in the last quarter. Finally, Doliver Advisors LP increased its position in shares of Shell by 5.2% in the fourth quarter. Doliver Advisors LP now owns 3,632 shares of the energy company’s stock worth $228,000 after purchasing an additional 180 shares during the last quarter. 28.60% of the stock is currently owned by institutional investors.

Shell Price Performance

Shares of Shell stock opened at $67.78 on Friday. The stock has a market capitalization of $206.13 billion, a P/E ratio of 13.50, a price-to-earnings-growth ratio of 0.98 and a beta of 0.47. Shell plc has a one year low of $60.15 and a one year high of $74.61. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.35 and a quick ratio of 1.10. The business’s 50 day simple moving average is $66.35 and its two-hundred day simple moving average is $66.32.

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

Shell Increases Dividend

The firm also recently declared 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. This represents a $2.86 dividend on an annualized basis and a yield of 4.23%. The ex-dividend date is Friday, February 14th. This is an increase from Shell’s previous quarterly dividend of $0.69. Shell’s payout ratio is currently 56.97%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Wolfe Research raised shares of Shell from a “peer perform” rating to an “outperform” rating and set a $80.00 price target on the stock in a report on Friday, January 3rd. Piper Sandler lowered their price target on Shell from $82.00 to $72.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Wells Fargo & Company cut 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. UBS Group raised Shell from a “neutral” rating to a “buy” rating in a report on Wednesday, January 8th. Finally, Morgan Stanley raised Shell from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $66.50 to $79.80 in a research note on Tuesday, January 7th. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, Shell currently has a consensus rating of “Buy” and an average target price 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.