FineMark National Bank & Trust Reduces Stock Position in Shell plc (NYSE:SHEL)

FineMark National Bank & Trust reduced its position in shares of Shell plc (NYSE:SHEL) by 1.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 174,614 shares of the energy company’s stock after selling 2,238 shares during the period. FineMark National Bank & Trust’s holdings in Shell were worth $10,940,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. increased its stake in Shell by 60.9% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,482 shares of the energy company’s stock valued at $889,000 after purchasing an additional 5,104 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Shell by 11.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 184,919 shares of the energy company’s stock valued at $12,195,000 after buying an additional 18,725 shares during the period. Eagle Asset Management Inc. lifted its holdings in shares of Shell by 10.6% during the 3rd quarter. Eagle Asset Management Inc. now owns 11,708 shares of the energy company’s stock worth $785,000 after acquiring an additional 1,125 shares during the period. Meridian Wealth Management LLC acquired a new stake in shares of Shell in the third quarter worth approximately $678,000. Finally, Cerity Partners LLC grew its holdings in Shell by 21.2% in the third quarter. Cerity Partners LLC now owns 384,392 shares of the energy company’s stock valued at $25,351,000 after purchasing an additional 67,297 shares during the period. 28.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SHEL. Wells Fargo & Company decreased 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. TD Securities lifted their target price on Shell from $81.00 to $82.00 and gave the company a “buy” rating in a report on Wednesday, March 19th. UBS Group upgraded Shell from a “neutral” rating to a “buy” rating in a research note on Wednesday, January 8th. Wolfe Research raised Shell from a “peer perform” rating to an “outperform” rating and set a $80.00 price objective on the stock in a research note on Friday, January 3rd. Finally, TD Cowen initiated coverage on shares of Shell in a research report on Wednesday, March 19th. They set a “buy” rating and a $81.00 target price for the company. One investment analyst has rated the stock with a hold rating, nine have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $79.48.

Shell Trading Up 0.5 %

NYSE SHEL opened at $71.33 on Tuesday. The company’s fifty day simple moving average is $67.17 and its 200-day simple moving average is $66.24. The stock has a market cap of $215.69 billion, a P/E ratio of 14.21, a PEG ratio of 0.98 and a beta of 0.47. Shell plc has a 52 week low of $60.15 and a 52 week high of $74.61. The company has a current ratio of 1.35, a quick ratio of 1.10 and a debt-to-equity ratio of 0.36.

Shell (NYSE:SHEL) last announced its earnings results on Thursday, January 30th. The energy company reported $1.20 earnings per share for the quarter, missing the consensus estimate of $1.74 by ($0.54). Shell had a net margin of 5.57% and a return on equity of 12.75%. Equities research analysts predict that Shell plc will post 7.67 EPS for the current fiscal year.

Shell Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Friday, February 14th were paid a dividend of $0.716 per share. This is a boost from Shell’s previous quarterly dividend of $0.69. This represents a $2.86 annualized dividend and a dividend yield of 4.02%. The ex-dividend date of this dividend was Friday, February 14th. Shell’s dividend payout ratio is 56.97%.

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.