Wealthspire Advisors LLC Cuts Stock Holdings in Shell plc (NYSE:SHEL)

Wealthspire Advisors LLC lowered its stake in shares of Shell plc (NYSE:SHEL) by 1.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,352 shares of the energy company’s stock after selling 175 shares during the period. Wealthspire Advisors LLC’s holdings in Shell were worth $1,076,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Barlow Wealth Partners Inc. purchased a new position in shares of Shell in the 4th quarter valued at $215,000. Palisade Asset Management LLC raised its stake in shares of Shell by 10.8% in the 4th quarter. Palisade Asset Management LLC now owns 4,345 shares of the energy company’s stock valued at $286,000 after acquiring an additional 424 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Shell by 37.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 98,706 shares of the energy company’s stock valued at $6,495,000 after acquiring an additional 26,729 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its stake in shares of Shell by 13.2% in the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 4,310 shares of the energy company’s stock valued at $284,000 after acquiring an additional 502 shares during the period. Finally, Apollon Wealth Management LLC increased its stake in Shell by 37.0% during the 4th quarter. Apollon Wealth Management LLC now owns 15,683 shares of the energy company’s stock worth $1,032,000 after buying an additional 4,232 shares during the period. Hedge funds and other institutional investors own 28.60% of the company’s stock.

Shell Stock Performance

SHEL traded up $0.50 on Friday, hitting $74.05. 340,300 shares of the company’s stock were exchanged, compared to its average volume of 4,620,492. The company has a current ratio of 1.42, a quick ratio of 1.14 and a debt-to-equity ratio of 0.37. The stock has a fifty day moving average of $69.23 and a two-hundred day moving average of $66.18. Shell plc has a twelve month low of $55.78 and a twelve month high of $74.26. The firm has a market cap of $238.26 billion, a PE ratio of 13.57, a P/E/G ratio of 1.70 and a beta of 0.59.

Shell Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 24th. Stockholders of record on Friday, May 17th will be issued a dividend of $0.688 per share. This is an increase from Shell’s previous quarterly dividend of $0.66. The ex-dividend date is Thursday, May 16th. This represents a $2.75 annualized dividend and a dividend yield of 3.72%. Shell’s payout ratio is 50.74%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on SHEL. Wells Fargo & Company lifted their price target on shares of Shell from $88.00 to $91.00 and gave the stock an “overweight” rating in a research note on Friday, May 3rd. TD Securities lifted 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, TheStreet raised shares of Shell from a “c” rating to a “b-” rating in a report on Monday, January 29th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company 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.