Fifth Third Bancorp Has $6.11 Million Stock Holdings in Shell plc (NYSE:SHEL)

Fifth Third Bancorp lowered its holdings in shares of Shell plc (NYSE:SHEL) by 17.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 97,445 shares of the energy company’s stock after selling 20,235 shares during the period. Fifth Third Bancorp’s holdings in Shell were worth $6,105,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of SHEL. Fortitude Family Office LLC bought a new stake in shares of Shell in the 3rd quarter valued at $30,000. Valley Wealth Managers Inc. bought a new stake in Shell during the third quarter valued at $33,000. Brooklyn Investment Group bought a new position in shares of Shell in the 3rd quarter worth about $35,000. GHP Investment Advisors Inc. boosted its position in shares of Shell by 40.8% during the 3rd quarter. GHP Investment Advisors Inc. now owns 563 shares of the energy company’s stock valued at $37,000 after purchasing an additional 163 shares in the last quarter. Finally, Kieckhefer Group LLC acquired a new stake in Shell during the fourth quarter worth approximately $40,000. Institutional investors and hedge funds own 28.60% of the company’s stock.

Analyst Ratings Changes

SHEL has been the topic of a number of research analyst reports. Morgan Stanley upgraded Shell from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $66.50 to $79.80 in a report on Tuesday, January 7th. Citigroup upgraded shares of Shell to a “hold” rating in a report on Wednesday, October 2nd. Wells Fargo & Company dropped their price objective on shares of Shell from $87.00 to $86.00 and set an “overweight” rating on the stock in a report on Friday, January 10th. Sanford C. Bernstein raised Shell to a “strong-buy” rating in a research report on Friday, October 11th. Finally, UBS Group upgraded Shell from a “neutral” rating to a “buy” rating in a report on Wednesday, January 8th. One equities research analyst has rated the stock with a hold rating, eight have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $79.69.

Shell Trading Down 1.9 %

Shares of Shell stock opened at $65.39 on Monday. The company has a current ratio of 1.40, a quick ratio of 1.13 and a debt-to-equity ratio of 0.34. The stock has a fifty day simple moving average of $64.23 and a 200 day simple moving average of $67.55. Shell plc has a 12-month low of $60.15 and a 12-month high of $74.61. The company has a market capitalization of $199.92 billion, a P/E ratio of 13.45, a price-to-earnings-growth ratio of 5.89 and a beta of 0.55.

Shell (NYSE:SHEL) last released its quarterly earnings results on Thursday, October 31st. The energy company reported $1.92 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.20. Shell had a net margin of 5.17% and a return on equity of 14.54%. The company had revenue of $72.46 billion for the quarter, compared to analyst estimates of $84.58 billion. During the same period last year, the firm earned $1.86 earnings per share. On average, sell-side analysts anticipate that Shell plc will post 8.16 earnings per share for the current fiscal year.

Shell Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Friday, November 15th were issued a dividend of $0.688 per share. The ex-dividend date was Friday, November 15th. This represents a $2.75 dividend on an annualized basis and a yield of 4.21%. Shell’s dividend payout ratio (DPR) is currently 56.58%.

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.