Shell plc (NYSE:SHEL) Shares Sold by NorthCrest Asset Manangement LLC

NorthCrest Asset Manangement LLC reduced its holdings in Shell plc (NYSE:SHEL) by 4.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,573 shares of the energy company’s stock after selling 168 shares during the period. NorthCrest Asset Manangement LLC’s holdings in Shell were worth $224,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of SHEL. Brighton Jones LLC boosted its stake in Shell by 51.7% during the fourth quarter. Brighton Jones LLC now owns 7,463 shares of the energy company’s stock worth $468,000 after buying an additional 2,545 shares during the last quarter. Private Advisor Group LLC boosted its stake in Shell by 0.9% during the fourth quarter. Private Advisor Group LLC now owns 33,168 shares of the energy company’s stock worth $2,078,000 after buying an additional 301 shares during the last quarter. Barclays PLC boosted its stake in Shell by 136.2% during the fourth quarter. Barclays PLC now owns 7,824 shares of the energy company’s stock worth $490,000 after buying an additional 4,512 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Shell by 8.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 199,856 shares of the energy company’s stock worth $12,521,000 after buying an additional 14,937 shares during the last quarter. Finally, Lockheed Martin Investment Management Co. boosted its stake in Shell by 266.1% during the fourth quarter. Lockheed Martin Investment Management Co. now owns 122,030 shares of the energy company’s stock worth $7,645,000 after buying an additional 88,700 shares during the last quarter. 28.60% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Royal Bank of Canada restated an “outperform” rating on shares of Shell in a research report on Wednesday, March 26th. TD Cowen reduced their target price on Shell from $82.00 to $76.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. Hsbc Global Res upgraded Shell to a “strong-buy” rating in a research report on Tuesday, May 13th. Barclays restated an “overweight” rating on shares of Shell in a research report on Wednesday, March 26th. Finally, Wells Fargo & Company reduced their target price on Shell from $83.00 to $80.00 and set an “overweight” rating on the stock in a research report on Monday, May 5th. One analyst has rated the stock with a hold rating, eleven have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, Shell currently has an average rating of “Buy” and an average price target of $78.35.

Shell Trading Down 0.3%

SHEL opened at $66.24 on Friday. Shell plc has a 12 month low of $58.55 and a 12 month high of $74.46. The stock has a market capitalization of $197.98 billion, a price-to-earnings ratio of 13.20, a PEG ratio of 0.98 and a beta of 0.38. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.35 and a quick ratio of 1.10. The business has a fifty day moving average price of $66.01 and a 200 day moving average price of $65.81.

Shell (NYSE:SHEL) last released its earnings results on Friday, May 2nd. The energy company reported $1.84 EPS for the quarter, topping the consensus estimate of $1.54 by $0.30. Shell had a return on equity of 12.75% and a net margin of 5.57%. The firm had revenue of $69.23 billion during the quarter, compared to analysts’ expectations of $79.18 billion. During the same period in the previous year, the firm posted $2.40 EPS. Sell-side analysts expect that Shell plc will post 7.67 earnings per share for the current fiscal year.

Shell Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 23rd. Investors of record on Friday, May 16th will be paid a dividend of $0.716 per share. The ex-dividend date is Friday, May 16th. This represents a $2.86 annualized dividend and a yield of 4.32%. Shell’s payout ratio is 65.90%.

Shell announced that its Board of Directors has initiated a share buyback program on Friday, May 2nd that allows the company to buyback $3.50 billion in shares. This buyback authorization allows the energy company to purchase up to 1.8% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

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.