Shell plc (NYSE:SHEL) Shares Sold by New England Asset Management Inc.

New England Asset Management Inc. trimmed its stake in shares of Shell plc (NYSE:SHEL) by 8.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 94,235 shares of the energy company’s stock after selling 9,250 shares during the quarter. New England Asset Management Inc.’s holdings in Shell were worth $6,201,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of SHEL. LM Advisors LLC purchased a new stake in shares of Shell in the fourth quarter valued at approximately $242,000. Advanced Portfolio Management LLC purchased a new position in Shell in the fourth quarter valued at about $1,974,000. Cresset Asset Management LLC lifted its position in shares of Shell by 2.8% during the 4th quarter. Cresset Asset Management LLC now owns 336,602 shares of the energy company’s stock valued at $22,148,000 after acquiring an additional 9,047 shares during the period. OLD Point Trust & Financial Services N A acquired a new stake in shares of Shell in the 4th quarter worth approximately $132,000. Finally, Personal CFO Solutions LLC increased its stake in Shell by 11.3% in the 4th quarter. Personal CFO Solutions LLC now owns 5,860 shares of the energy company’s stock valued at $386,000 after purchasing an additional 597 shares in the last quarter. Institutional investors and hedge funds own 28.60% of the company’s stock.

Shell Stock Up 0.2 %

Shares of Shell stock traded up $0.12 during midday trading on Wednesday, hitting $70.41. The company’s stock had a trading volume of 4,111,985 shares, compared to its average volume of 4,436,651. The firm has a market capitalization of $223.89 billion, a P/E ratio of 13.15, a PEG ratio of 1.82 and a beta of 0.60. Shell plc has a 1-year low of $58.14 and a 1-year high of $74.61. The company has a quick ratio of 1.14, a current ratio of 1.42 and a debt-to-equity ratio of 0.37. The stock has a 50-day simple moving average of $71.82 and a 200-day simple moving average of $67.07.

Shell (NYSE:SHEL) last posted its quarterly earnings results on Thursday, May 2nd. The energy company reported $2.38 EPS for the quarter, topping the consensus estimate of $1.87 by $0.51. The business had revenue of $74.70 billion during the quarter, compared to analysts’ expectations of $88.03 billion. Shell had a net margin of 5.83% and a return on equity of 13.83%. As a group, sell-side analysts expect that Shell plc will post 8.37 earnings per share for the current year.

Shell Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 24th. Shareholders of record on Friday, May 17th will be given a $0.688 dividend. This represents a $2.75 annualized dividend and a yield of 3.91%. This is an increase from Shell’s previous quarterly dividend of $0.66. The ex-dividend date is Thursday, May 16th. Shell’s payout ratio is currently 50.74%.

Wall Street Analyst Weigh In

SHEL has been the topic of several research reports. Argus increased their price target on shares of Shell from $77.00 to $79.00 and gave the company a “buy” rating in a research report on Thursday, June 6th. TD Securities boosted their price objective on shares of Shell from $74.00 to $81.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. Finally, Wells Fargo & Company boosted their price target on shares of Shell from $88.00 to $91.00 and gave the company an “overweight” rating in a report on Friday, May 3rd. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $69.00.

Shell 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.