Gabelli Funds LLC Sells 400 Shares of Shell plc (NYSE:SHEL)

Gabelli Funds LLC lowered its stake in Shell plc (NYSE:SHEL) by 0.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 393,800 shares of the energy company’s stock after selling 400 shares during the quarter. Gabelli Funds LLC’s holdings in Shell were worth $24,672,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Valley National Advisers Inc. lifted its position in shares of Shell by 930.2% in the fourth quarter. Valley National Advisers Inc. now owns 443 shares of the energy company’s stock valued at $27,000 after acquiring an additional 400 shares in the last quarter. CoreFirst Bank & Trust bought a new stake in Shell during the 4th quarter valued at approximately $28,000. Human Investing LLC bought a new position in Shell in the 4th quarter worth approximately $31,000. Millstone Evans Group LLC purchased a new stake in Shell during the 4th quarter valued at approximately $36,000. Finally, Summit Securities Group LLC lifted its holdings in shares of Shell by 50.0% in the fourth quarter. Summit Securities Group LLC now owns 600 shares of the energy company’s stock worth $38,000 after buying an additional 200 shares in the last quarter. 28.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on SHEL shares. TD Securities reiterated a “buy” rating on shares of Shell in a report on Friday, April 4th. Piper Sandler decreased their target price on Shell from $82.00 to $72.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Wells Fargo & Company cut their price target on Shell from $87.00 to $83.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Barclays reissued an “overweight” rating on shares of Shell in a report on Wednesday, March 26th. Finally, Scotiabank lowered their price objective on shares of Shell from $75.00 to $70.00 and set a “sector outperform” rating for the company in a research report on Friday, April 11th. One analyst has rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Shell has a consensus rating of “Buy” and an average target price of $77.73.

Shell Stock Up 0.4 %

Shares of NYSE SHEL opened at $62.81 on Wednesday. The company has a market cap of $189.91 billion, a P/E ratio of 12.51, a PEG ratio of 0.98 and a beta of 0.27. The firm has a 50-day simple moving average of $67.41 and a two-hundred day simple moving average of $66.15. Shell plc has a 1 year low of $58.55 and a 1 year high of $74.61. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.35 and a quick ratio of 1.10.

Shell (NYSE:SHEL) last announced its quarterly earnings data on Thursday, January 30th. The energy company reported $1.20 EPS 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%. Research analysts anticipate that Shell plc will post 7.67 earnings per share for the current year.

Shell Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Friday, February 14th were given a $0.716 dividend. This represents a $2.86 annualized dividend and a yield of 4.56%. This is a boost from Shell’s previous quarterly dividend of $0.69. The ex-dividend date was Friday, February 14th. Shell’s payout ratio is 56.97%.

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.