HB Wealth Management LLC Reduces Position in Shell plc (NYSE:SHEL)

HB Wealth Management LLC decreased its stake in Shell plc (NYSE:SHEL) by 5.5% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 34,130 shares of the energy company’s stock after selling 1,994 shares during the period. HB Wealth Management LLC’s holdings in Shell were worth $2,138,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. NorthCrest Asset Manangement LLC boosted its holdings in shares of Shell by 6.4% in the 3rd quarter. NorthCrest Asset Manangement LLC now owns 3,741 shares of the energy company’s stock valued at $247,000 after buying an additional 225 shares in the last quarter. Rockefeller Capital Management L.P. boosted its holdings in shares of Shell by 1.5% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 3,125,284 shares of the energy company’s stock valued at $206,116,000 after buying an additional 46,293 shares in the last quarter. Creative Planning boosted its holdings in shares of Shell by 11.3% in the 2nd quarter. Creative Planning now owns 292,587 shares of the energy company’s stock valued at $21,119,000 after buying an additional 29,677 shares in the last quarter. Mawer Investment Management Ltd. boosted its stake in Shell by 8.7% during the 3rd quarter. Mawer Investment Management Ltd. now owns 5,282,868 shares of the energy company’s stock worth $348,405,000 after purchasing an additional 422,329 shares during the period. Finally, Inspire Trust Co. N.A. boosted its stake in Shell by 26.9% during the 3rd quarter. Inspire Trust Co. N.A. now owns 52,439 shares of the energy company’s stock worth $3,458,000 after purchasing an additional 11,105 shares during the period. Institutional investors and hedge funds own 28.60% of the company’s stock.

Shell Stock Performance

Shares of SHEL opened at $66.74 on Monday. The company has a 50-day simple moving average of $64.19 and a 200-day simple moving average of $67.78. The company has a quick ratio of 1.13, a current ratio of 1.40 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $205.36 billion, a PE ratio of 13.73, a P/E/G ratio of 5.60 and a beta of 0.55. Shell plc has a 52-week low of $60.15 and a 52-week high of $74.61.

Shell Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Friday, November 15th were issued a $0.688 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $2.75 dividend on an annualized basis and a dividend yield of 4.12%. Shell’s dividend payout ratio is presently 56.58%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on SHEL. Barclays upgraded shares of Shell to a “strong-buy” rating in a research note on Wednesday, October 2nd. Wolfe Research upgraded shares of Shell from a “peer perform” rating to an “outperform” rating and set a $80.00 price target for the company in a research note on Friday, January 3rd. Sanford C. Bernstein upgraded shares of Shell to a “strong-buy” rating in a research note on Friday, October 11th. UBS Group upgraded shares of Shell from a “neutral” rating to a “buy” rating in a research note on Wednesday, January 8th. Finally, Wells Fargo & Company reduced their target price on shares of Shell from $87.00 to $86.00 and set an “overweight” rating for the company in a research note on Friday, January 10th. One investment 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 company’s stock. According to data from MarketBeat.com, Shell presently has an average rating of “Buy” and a consensus target price of $79.69.

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.