Van ECK Associates Corp Trims Stake in Shell plc (NYSE:SHEL)

Van ECK Associates Corp lessened its stake in shares of Shell plc (NYSE:SHEL) by 4.1% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 932,050 shares of the energy company’s stock after selling 39,410 shares during the period. Van ECK Associates Corp’s holdings in Shell were worth $61,329,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in SHEL. FMR LLC raised its holdings in Shell by 29.1% during the third quarter. FMR LLC now owns 29,087,703 shares of the energy company’s stock valued at $1,872,666,000 after acquiring an additional 6,554,340 shares during the period. Morgan Stanley lifted its holdings in Shell by 4.3% in the 3rd quarter. Morgan Stanley now owns 9,356,191 shares of the energy company’s stock worth $602,352,000 after purchasing an additional 384,967 shares in the last quarter. Wellington Management Group LLP grew its holdings in Shell by 10.7% during the 3rd quarter. Wellington Management Group LLP now owns 8,742,878 shares of the energy company’s stock valued at $562,866,000 after buying an additional 848,104 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Shell by 10.2% during the third quarter. Bank of New York Mellon Corp now owns 4,435,003 shares of the energy company’s stock valued at $285,526,000 after buying an additional 409,016 shares during the last quarter. Finally, Pzena Investment Management LLC boosted its position in shares of Shell by 1.6% during the third quarter. Pzena Investment Management LLC now owns 3,939,739 shares of the energy company’s stock worth $253,640,000 after acquiring an additional 61,583 shares during the last quarter. Institutional investors own 28.60% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, TheStreet upgraded shares of Shell from a “c” rating to a “b-” rating in a research note on Monday, January 29th.

Shell Price Performance

SHEL traded down $0.92 during trading hours on Tuesday, hitting $72.20. The company’s stock had a trading volume of 1,160,067 shares, compared to its average volume of 4,678,941. Shell plc has a 12 month low of $55.78 and a 12 month high of $73.94. The stock has a market cap of $232.31 billion, a price-to-earnings ratio of 12.92, a P/E/G ratio of 1.74 and a beta of 0.62. The business’s 50-day moving average price is $67.81 and its 200-day moving average price is $65.91. The company has a current ratio of 1.40, a quick ratio of 1.13 and a debt-to-equity ratio of 0.38.

Shell (NYSE:SHEL) last issued its quarterly earnings data on Thursday, February 1st. The energy company reported $2.22 earnings per share for the quarter, topping the consensus estimate of $1.94 by $0.28. Shell had a return on equity of 14.69% and a net margin of 5.99%. The company had revenue of $80.13 billion for the quarter, compared to analysts’ expectations of $89.59 billion. During the same period in the previous year, the firm posted $2.76 earnings per share. Sell-side analysts expect that Shell plc will post 8.16 earnings per share for the current fiscal year.

Shell Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Friday, February 16th were paid a dividend of $0.662 per share. The ex-dividend date was Thursday, February 15th. This represents a $2.65 dividend on an annualized basis and a dividend yield of 3.67%. Shell’s dividend payout ratio is presently 48.59%.

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.