Cullen Frost Bankers Inc. Reduces Stake in Shell plc (NYSE:SHEL)

Cullen Frost Bankers Inc. decreased its position in Shell plc (NYSE:SHEL) by 38.5% during the 4th quarter, Holdings Channel reports. The firm owned 39,495 shares of the energy company’s stock after selling 24,762 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Shell were worth $2,599,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Provence Wealth Management Group acquired a new position in shares of Shell in the third quarter valued at approximately $26,000. VisionPoint Advisory Group LLC purchased a new stake in Shell in the 3rd quarter worth approximately $26,000. Rise Advisors LLC lifted its stake in shares of Shell by 84.4% during the 4th quarter. Rise Advisors LLC now owns 413 shares of the energy company’s stock worth $27,000 after purchasing an additional 189 shares during the period. Valley National Advisers Inc. boosted its holdings in shares of Shell by 217.7% during the fourth quarter. Valley National Advisers Inc. now owns 413 shares of the energy company’s stock worth $27,000 after purchasing an additional 283 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new stake in shares of Shell in the third quarter valued at $32,000. Hedge funds and other institutional investors own 28.60% of the company’s stock.

Shell Price Performance

SHEL opened at $73.08 on Thursday. Shell plc has a 52-week low of $55.78 and a 52-week high of $73.94. The company has a 50 day moving average of $69.01 and a two-hundred day moving average of $66.13. The company has a market cap of $235.14 billion, a P/E ratio of 13.40, a P/E/G ratio of 1.70 and a beta of 0.59. The company has a quick ratio of 1.14, a current ratio of 1.42 and a debt-to-equity ratio of 0.37.

Shell Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 24th. Shareholders of record on Friday, May 17th will be paid a dividend of $0.688 per share. This represents a $2.75 dividend on an annualized basis and a dividend yield of 3.77%. The ex-dividend date of this dividend is Thursday, May 16th. This is a boost from Shell’s previous quarterly dividend of $0.66. Shell’s payout ratio is currently 50.74%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on SHEL shares. TheStreet upgraded shares of Shell from a “c” rating to a “b-” rating in a report on Monday, January 29th. TD Securities increased their price target on shares of Shell from $74.00 to $81.00 and gave the stock a “buy” rating in a research note on Friday, May 3rd. Finally, Wells Fargo & Company upped their price objective on Shell from $88.00 to $91.00 and gave the stock an “overweight” rating in a report on Friday, May 3rd. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $66.50.

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.