Cullinan Associates Inc. Has $320,000 Position in Shell plc (NYSE:SHEL)

Cullinan Associates Inc. lowered its holdings in shares of Shell plc (NYSE:SHEL) by 29.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,100 shares of the energy company’s stock after selling 2,100 shares during the quarter. Cullinan Associates Inc.’s holdings in Shell were worth $320,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of SHEL. Procyon Advisors LLC grew its holdings in shares of Shell by 3.2% during the third quarter. Procyon Advisors LLC now owns 5,074 shares of the energy company’s stock worth $335,000 after buying an additional 159 shares in the last quarter. Foster Group Inc. grew its holdings in shares of Shell by 5.0% during the fourth quarter. Foster Group Inc. now owns 3,393 shares of the energy company’s stock worth $213,000 after buying an additional 162 shares in the last quarter. GHP Investment Advisors Inc. grew its holdings in shares of Shell by 40.8% during the third quarter. GHP Investment Advisors Inc. now owns 563 shares of the energy company’s stock worth $37,000 after buying an additional 163 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 buying an additional 173 shares in the last quarter. Finally, Doliver Advisors LP grew its stake in Shell by 5.2% in the fourth quarter. Doliver Advisors LP now owns 3,632 shares of the energy company’s stock valued at $228,000 after purchasing an additional 180 shares in the last quarter. Institutional investors and hedge funds own 28.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on SHEL. Wells Fargo & Company decreased their price target on Shell from $86.00 to $82.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Piper Sandler decreased their price target on Shell from $82.00 to $72.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Sanford C. Bernstein upgraded Shell to a “strong-buy” rating in a research note on Friday, October 11th. Scotiabank decreased their price target 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. Finally, UBS Group upgraded Shell from a “neutral” rating to a “buy” rating in a research note on Wednesday, January 8th. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $79.11.

Shell Stock Performance

NYSE:SHEL opened at $66.66 on Wednesday. The stock has a market cap of $203.80 billion, a P/E ratio of 13.28, a PEG ratio of 6.57 and a beta of 0.54. The stock has a 50 day simple moving average of $64.21 and a 200 day simple moving average of $67.19. The company has a current ratio of 1.35, a quick ratio of 1.10 and a debt-to-equity ratio of 0.36. Shell plc has a 1-year low of $60.15 and a 1-year high of $74.61.

Shell (NYSE:SHEL) last released its quarterly earnings results on Thursday, January 30th. The energy company reported $1.20 earnings per share 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%. Research analysts anticipate that Shell plc will post 7.27 earnings per share for the current year.

Shell Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Friday, February 14th will be given a dividend of $0.716 per share. The ex-dividend date is Friday, February 14th. This represents a $2.86 dividend on an annualized basis and a yield of 4.30%. This is a positive change from Shell’s previous quarterly dividend of $0.69. Shell’s payout ratio is currently 54.78%.

About Shell

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.