Naviter Wealth LLC Decreases Stake in Shell plc (NYSE:SHEL)

Naviter Wealth LLC reduced its stake in Shell plc (NYSE:SHEL) by 25.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 61,755 shares of the energy company’s stock after selling 20,748 shares during the quarter. Naviter Wealth LLC’s holdings in Shell were worth $3,869,000 as of its most recent SEC filing.

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

Shell Price Performance

Shares of NYSE SHEL opened at $66.80 on Friday. The firm’s 50 day simple moving average is $65.98 and its 200-day simple moving average is $66.45. Shell plc has a 12 month low of $60.15 and a 12 month high of $74.61. The stock has a market capitalization of $203.16 billion, a price-to-earnings ratio of 13.31, a PEG ratio of 0.98 and a beta of 0.47. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.35 and a quick ratio of 1.10.

Shell (NYSE:SHEL) last released its quarterly earnings results 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 5.57% and a return on equity of 12.75%. Analysts expect that Shell plc will post 7.67 EPS for the current year.

Shell Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Friday, February 14th will be issued a dividend of $0.716 per share. This represents a $2.86 annualized dividend and a dividend yield of 4.29%. The ex-dividend date is Friday, February 14th. This is a positive change from Shell’s previous quarterly dividend of $0.69. Shell’s payout ratio is currently 56.97%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on SHEL. Piper Sandler cut their price target on shares of Shell from $82.00 to $72.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. UBS Group upgraded shares of Shell from a “neutral” rating to a “buy” rating in a report on Wednesday, January 8th. Wolfe Research upgraded 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. Wells Fargo & Company cut their price target on shares of Shell from $86.00 to $82.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Finally, Morgan Stanley raised shares of Shell from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $66.50 to $79.80 in a research note on Tuesday, January 7th. One 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. According to data from MarketBeat, Shell currently has a consensus 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.