US Bancorp DE Trims Holdings in Shell plc (NYSE:SHEL)

US Bancorp DE cut its holdings in shares of Shell plc (NYSE:SHEL) by 3.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 415,889 shares of the energy company’s stock after selling 13,194 shares during the period. US Bancorp DE’s holdings in Shell were worth $27,365,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

A number of analysts have weighed in on SHEL shares. TheStreet upgraded shares of Shell from a “c” rating to a “b-” rating in a research note on Monday, January 29th. TD Securities raised their price target on shares of Shell from $74.00 to $81.00 and gave the company a “buy” rating in a report on Friday, May 3rd. Finally, Wells Fargo & Company boosted their price objective on shares of Shell from $88.00 to $91.00 and gave the company an “overweight” rating in a report on Friday, May 3rd. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $66.50.

Shell Price Performance

SHEL stock traded up $0.45 during trading on Friday, hitting $70.82. 2,352,149 shares of the company’s stock traded hands, compared to its average volume of 3,957,527. The business has a fifty day simple moving average of $70.95 and a 200 day simple moving average of $66.62. Shell plc has a 52 week low of $55.78 and a 52 week high of $74.61. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.14 and a current ratio of 1.42. The stock has a market capitalization of $226.29 billion, a price-to-earnings ratio of 13.07, a P/E/G ratio of 1.81 and a beta of 0.59.

Shell (NYSE:SHEL) last released its quarterly earnings results on Thursday, May 2nd. The energy company reported $2.38 earnings per share for the quarter, beating the consensus estimate of $1.87 by $0.51. The company had revenue of $74.70 billion for the quarter, compared to analyst estimates of $88.03 billion. Shell had a return on equity of 13.83% and a net margin of 5.83%. As a group, research analysts expect that Shell plc will post 8.37 EPS for the current fiscal year.

Shell Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 24th. Investors of record on Friday, May 17th will be issued a dividend of $0.688 per share. This is a positive change from Shell’s previous quarterly dividend of $0.66. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.75 dividend on an annualized basis and a yield of 3.89%. Shell’s dividend payout ratio (DPR) is presently 50.74%.

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.