Frank Rimerman Advisors LLC Sells 32,732 Shares of Shell plc (NYSE:SHEL)

Frank Rimerman Advisors LLC cut its stake in shares of Shell plc (NYSE:SHEL) by 86.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,246 shares of the energy company’s stock after selling 32,732 shares during the period. Frank Rimerman Advisors LLC’s holdings in Shell were worth $329,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of SHEL. FMR LLC increased its position in shares of Shell by 5.2% during the third quarter. FMR LLC now owns 65,298,943 shares of the energy company’s stock valued at $4,306,465,000 after buying an additional 3,255,347 shares during the period. Jennison Associates LLC increased its position in shares of Shell by 188.0% during the third quarter. Jennison Associates LLC now owns 3,014,199 shares of the energy company’s stock valued at $198,786,000 after buying an additional 1,967,672 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Shell during the fourth quarter worth about $91,716,000. Holocene Advisors LP raised its stake in Shell by 29.8% in the third quarter. Holocene Advisors LP now owns 3,773,617 shares of the energy company’s stock valued at $248,870,000 after purchasing an additional 866,954 shares in the last quarter. Finally, Fisher Asset Management LLC raised its stake in Shell by 2.1% in the third quarter. Fisher Asset Management LLC now owns 24,530,647 shares of the energy company’s stock valued at $1,617,796,000 after purchasing an additional 507,311 shares in the last quarter. 28.60% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on SHEL shares. UBS Group raised shares of Shell from a “neutral” rating to a “buy” rating in a research note on Wednesday, January 8th. Wolfe Research raised shares of Shell from a “peer perform” rating to an “outperform” rating and set a $80.00 target price on the stock in a research note on Friday, January 3rd. Wells Fargo & Company lowered their target price on shares of Shell from $86.00 to $82.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Morgan Stanley upgraded shares of Shell from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $66.50 to $79.80 in a research report on Tuesday, January 7th. Finally, Piper Sandler reduced their price target on shares of Shell from $82.00 to $72.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Shell has an average rating of “Buy” and an average target price of $79.11.

Shell Stock Up 1.5 %

Shares of Shell stock opened at $68.78 on Monday. 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 plc has a 52-week low of $60.15 and a 52-week high of $74.61. The stock has a market capitalization of $209.17 billion, a price-to-earnings ratio of 13.70, a P/E/G ratio of 0.98 and a beta of 0.47. The company’s 50 day moving average price is $66.44 and its 200-day moving average price is $66.21.

Shell (NYSE:SHEL) last issued its earnings results on Thursday, January 30th. The energy company reported $1.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.74 by ($0.54). Shell had a return on equity of 12.75% and a net margin of 5.57%. Equities research 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 paid a $0.716 dividend. This is a positive change from Shell’s previous quarterly dividend of $0.69. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.86 dividend on an annualized basis and a yield of 4.16%. Shell’s dividend payout ratio (DPR) is presently 56.97%.

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.