Keudell Morrison Wealth Management Cuts Stock Position in Shell plc (NYSE:SHEL)

Keudell Morrison Wealth Management cut its stake in shares of Shell plc (NYSE:SHEL) by 18.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,595 shares of the energy company’s stock after selling 839 shares during the quarter. Keudell Morrison Wealth Management’s holdings in Shell were worth $225,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of SHEL. AQR Capital Management LLC grew its position in Shell by 42.7% during the 2nd quarter. AQR Capital Management LLC now owns 21,701 shares of the energy company’s stock worth $1,566,000 after acquiring an additional 6,495 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Shell by 2.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 17,165 shares of the energy company’s stock worth $1,239,000 after acquiring an additional 337 shares during the last quarter. Truist Financial Corp grew its position in Shell by 2.5% during the 2nd quarter. Truist Financial Corp now owns 305,661 shares of the energy company’s stock worth $22,063,000 after acquiring an additional 7,327 shares during the last quarter. Clearbridge Investments LLC grew its position in shares of Shell by 0.7% in the 2nd quarter. Clearbridge Investments LLC now owns 90,242 shares of the energy company’s stock worth $6,514,000 after buying an additional 610 shares during the last quarter. Finally, Sanctuary Advisors LLC bought a new stake in shares of Shell in the 2nd quarter worth approximately $10,505,000. 28.60% of the stock is currently owned by institutional investors.

Shell Stock Down 1.3 %

Shares of NYSE:SHEL opened at $65.82 on Friday. The stock has a fifty day simple moving average of $64.17 and a two-hundred day simple moving average of $67.36. The stock has a market capitalization of $201.23 billion, a price-to-earnings ratio of 13.54, a PEG ratio of 6.46 and a beta of 0.55. Shell plc has a 12-month low of $60.15 and a 12-month high of $74.61. The company has a current ratio of 1.40, a quick ratio of 1.13 and a debt-to-equity ratio of 0.34.

Shell (NYSE:SHEL) last announced its quarterly earnings data on Thursday, January 30th. The energy company reported $1.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.54). Shell had a net margin of 5.17% and a return on equity of 14.54%. On average, research analysts anticipate that Shell plc will post 8.11 earnings per share for the current fiscal year.

Shell Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Friday, February 14th will be paid a $0.716 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.86 annualized dividend and a dividend yield of 4.35%. This is a boost from Shell’s previous quarterly dividend of $0.69. Shell’s payout ratio is currently 56.58%.

Analyst Upgrades and Downgrades

SHEL has been the topic of a number of recent analyst reports. Sanford C. Bernstein upgraded Shell to a “strong-buy” rating in a research report on Friday, October 11th. Morgan Stanley upgraded Shell from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $66.50 to $79.80 in a research report on Tuesday, January 7th. UBS Group upgraded Shell from a “neutral” rating to a “buy” rating in a research report on Wednesday, January 8th. Piper Sandler lowered their target price on Shell from $82.00 to $72.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Finally, Scotiabank lowered their target price on Shell from $90.00 to $80.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. One 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 has an average rating of “Buy” and a consensus price target 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.