Forvis Mazars Wealth Advisors LLC Reduces Holdings in Shell plc (NYSE:SHEL)

Forvis Mazars Wealth Advisors LLC lessened its position in shares of Shell plc (NYSE:SHEL) by 29.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,526 shares of the energy company’s stock after selling 3,084 shares during the period. Forvis Mazars Wealth Advisors LLC’s holdings in Shell were worth $471,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Valley National Advisers Inc. grew 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 purchasing an additional 400 shares in the last quarter. Fortitude Family Office LLC bought a new position in Shell in the 3rd quarter worth about $30,000. Human Investing LLC purchased a new position in Shell during the 4th quarter valued at about $31,000. Valley Wealth Managers Inc. purchased a new stake in shares of Shell in the third quarter worth about $33,000. Finally, Brooklyn Investment Group bought a new position in shares of Shell in the third quarter valued at approximately $35,000. Hedge funds and other institutional investors own 28.60% of the company’s stock.

Shell Stock Up 0.3 %

Shares of NYSE SHEL opened at $66.90 on Tuesday. The stock has a market capitalization of $203.47 billion, a P/E ratio of 13.33, a PEG ratio of 0.98 and a beta of 0.54. 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 plc has a one year low of $60.15 and a one year high of $74.61. The firm’s 50 day simple moving average is $64.99 and its two-hundred day simple moving average is $66.73.

Shell (NYSE:SHEL) last issued its earnings results on Thursday, January 30th. The energy company reported $1.20 EPS for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.54). Shell had a return on equity of 12.75% and a net margin of 5.57%. As a group, analysts expect that Shell plc will post 7.67 EPS for the current fiscal year.

Shell Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Friday, February 14th will be given a dividend of $0.716 per share. This represents a $2.86 annualized dividend and a yield of 4.28%. This is a positive change from Shell’s previous quarterly dividend of $0.69. The ex-dividend date of this dividend is Friday, February 14th. Shell’s dividend payout ratio (DPR) is presently 56.97%.

Analysts Set New Price Targets

SHEL has been the topic of several recent analyst reports. UBS Group upgraded shares of Shell from a “neutral” rating to a “buy” rating in a research note on Wednesday, January 8th. Morgan Stanley raised Shell from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $66.50 to $79.80 in a research note on Tuesday, January 7th. Wells Fargo & Company decreased their target price on Shell from $86.00 to $82.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Wolfe Research raised Shell from a “peer perform” rating to an “outperform” rating and set a $80.00 price objective for the company in a report on Friday, January 3rd. Finally, Piper Sandler lowered their target price on shares of Shell from $82.00 to $72.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. One research analyst has rated the stock with a hold rating, eight have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $79.11.

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.