Shell plc (NYSE:SHEL) Shares Sold by Eastover Investment Advisors LLC

Eastover Investment Advisors LLC lessened its stake in Shell plc (NYSE:SHEL) by 1.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 104,966 shares of the energy company’s stock after selling 1,786 shares during the period. Shell accounts for 3.1% of Eastover Investment Advisors LLC’s portfolio, making the stock its 19th biggest holding. Eastover Investment Advisors LLC’s holdings in Shell were worth $6,576,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Hilltop National Bank boosted its stake in Shell by 11.9% during the fourth quarter. Hilltop National Bank now owns 21,652 shares of the energy company’s stock valued at $1,356,000 after buying an additional 2,299 shares in the last quarter. First Hawaiian Bank boosted its position in shares of Shell by 6.6% during the 4th quarter. First Hawaiian Bank now owns 37,500 shares of the energy company’s stock valued at $2,349,000 after purchasing an additional 2,321 shares in the last quarter. InvesTrust acquired a new position in shares of Shell in the 4th quarter worth approximately $4,965,000. Doliver Advisors LP raised its holdings in shares of 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 purchasing an additional 180 shares in the last quarter. Finally, CWA Asset Management Group LLC boosted its holdings in Shell by 28.0% during the fourth quarter. CWA Asset Management Group LLC now owns 18,133 shares of the energy company’s stock worth $1,136,000 after buying an additional 3,970 shares in the last quarter. 28.60% of the stock is currently owned by institutional investors.

Shell Price Performance

NYSE SHEL opened at $65.02 on Monday. The firm has a market cap of $200.08 billion, a P/E ratio of 13.38, a price-to-earnings-growth ratio of 4.84 and a beta of 0.55. The stock’s 50-day moving average is $64.38 and its two-hundred day moving average is $68.01. Shell plc has a fifty-two week low of $60.15 and a fifty-two week high of $74.61. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.40 and a quick ratio of 1.13.

Shell Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Friday, November 15th were issued a dividend of $0.688 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $2.75 annualized dividend and a yield of 4.23%. Shell’s dividend payout ratio (DPR) is presently 56.58%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Wolfe Research upgraded Shell from a “peer perform” rating to an “outperform” rating and set a $80.00 price objective for the company in a research report on Friday, January 3rd. Barclays raised Shell to a “strong-buy” rating in a research note on Wednesday, October 2nd. Scotiabank decreased their target price on shares of Shell from $90.00 to $80.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. UBS Group upgraded shares of Shell from a “neutral” rating to a “buy” rating in a report on Wednesday, January 8th. Finally, Wells Fargo & Company decreased their price objective on shares of Shell from $87.00 to $86.00 and set an “overweight” rating for the company in a research note on Friday. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, Shell currently has an average rating of “Buy” and an average target price of $79.69.

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.