Chevy Chase Trust Holdings LLC Has $109.54 Million Stake in Shell plc (NYSE:SHEL)

Chevy Chase Trust Holdings LLC decreased its stake in Shell plc (NYSE:SHEL) by 3.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,748,486 shares of the energy company’s stock after selling 65,883 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Shell were worth $109,543,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Procyon Advisors LLC lifted its position in Shell by 3.2% in the 3rd quarter. Procyon Advisors LLC now owns 5,074 shares of the energy company’s stock worth $335,000 after buying an additional 159 shares in the last quarter. Foster Group Inc. raised its holdings in shares of Shell by 5.0% during the 4th quarter. Foster Group Inc. now owns 3,393 shares of the energy company’s stock valued at $213,000 after purchasing an additional 162 shares in the last quarter. GHP Investment Advisors Inc. raised its holdings in shares of Shell by 40.8% during the 3rd quarter. GHP Investment Advisors Inc. now owns 563 shares of the energy company’s stock valued at $37,000 after purchasing an additional 163 shares in the last quarter. Warther Private Wealth LLC raised its holdings in shares of Shell by 5.5% during the 4th quarter. Warther Private Wealth LLC now owns 3,268 shares of the energy company’s stock valued at $205,000 after purchasing an additional 169 shares in the last quarter. Finally, RHS Financial LLC raised its holdings in shares of Shell by 3.1% during the 4th quarter. RHS Financial LLC now owns 5,667 shares of the energy company’s stock valued at $355,000 after purchasing an additional 173 shares in the last quarter. Hedge funds and other institutional investors own 28.60% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on SHEL. Wells Fargo & Company dropped their target price on shares of Shell from $86.00 to $82.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Piper Sandler dropped their target price on shares of Shell from $82.00 to $72.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Wolfe Research upgraded shares of Shell from a “peer perform” rating to an “outperform” rating and set a $80.00 target price on the stock in a report on Friday, January 3rd. Morgan Stanley upgraded shares of Shell from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $66.50 to $79.80 in a report on Tuesday, January 7th. Finally, UBS Group upgraded shares of Shell from a “neutral” rating to a “buy” rating in a report on Wednesday, January 8th. One equities research analyst has rated the stock with a hold rating, eight have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $79.11.

Shell Price Performance

Shares of Shell stock opened at $67.34 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.10 and a current ratio of 1.35. The firm’s 50-day simple moving average is $64.42 and its 200-day simple moving average is $67.00. Shell plc has a twelve month low of $60.15 and a twelve month high of $74.61. The firm has a market cap of $205.91 billion, a P/E ratio of 13.42, a price-to-earnings-growth ratio of 0.98 and a beta of 0.54.

Shell (NYSE:SHEL) last issued its earnings results on Thursday, January 30th. The energy company reported $1.20 earnings per share 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%. As a group, research analysts expect that Shell plc will post 7.46 EPS for the current fiscal year.

Shell Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Friday, February 14th will be given a $0.716 dividend. The ex-dividend date is Friday, February 14th. This is a positive change from Shell’s previous quarterly dividend of $0.69. This represents a $2.86 dividend on an annualized basis and a yield of 4.25%. Shell’s payout ratio is 54.78%.

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.