Edgemoor Investment Advisors Inc. Has $9.74 Million Stake in Shell plc (NYSE:SHEL)

Edgemoor Investment Advisors Inc. decreased its stake in shares of Shell plc (NYSE:SHEL) by 1.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 155,418 shares of the energy company’s stock after selling 2,371 shares during the period. Shell accounts for about 0.9% of Edgemoor Investment Advisors Inc.’s investment portfolio, making the stock its 29th biggest holding. Edgemoor Investment Advisors Inc.’s holdings in Shell were worth $9,737,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Cozad Asset Management Inc. grew its position in Shell by 17.8% in the 4th quarter. Cozad Asset Management Inc. now owns 9,094 shares of the energy company’s stock valued at $570,000 after purchasing an additional 1,373 shares during the period. Van Hulzen Asset Management LLC grew its position in Shell by 1.9% in the 4th quarter. Van Hulzen Asset Management LLC now owns 189,310 shares of the energy company’s stock valued at $11,860,000 after purchasing an additional 3,533 shares during the period. Patten & Patten Inc. TN grew its position in Shell by 15.2% in the 4th quarter. Patten & Patten Inc. TN now owns 4,818 shares of the energy company’s stock valued at $302,000 after purchasing an additional 635 shares during the period. one8zero8 LLC acquired a new stake in Shell in the 4th quarter valued at $207,000. Finally, Choate Investment Advisors grew its position in Shell by 119.0% in the 4th quarter. Choate Investment Advisors now owns 7,500 shares of the energy company’s stock valued at $470,000 after purchasing an additional 4,076 shares during the period. Institutional investors and hedge funds own 28.60% of the company’s stock.

Analysts Set New Price Targets

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

Shell Trading Up 1.5 %

NYSE SHEL opened at $68.78 on Monday. The stock has a market capitalization of $209.17 billion, a price-to-earnings ratio of 13.70, a PEG ratio of 0.98 and a beta of 0.47. Shell plc has a one year low of $60.15 and a one 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. The business’s fifty day moving average is $66.44 and its 200-day moving average is $66.21.

Shell (NYSE:SHEL) last announced its quarterly earnings data on Thursday, January 30th. The energy company reported $1.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.54). Shell had a net margin of 5.57% and a return on equity of 12.75%. Equities research analysts predict that Shell plc will post 7.67 EPS for the current year.

Shell Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Friday, February 14th will be paid a $0.716 dividend. This is a boost from Shell’s previous quarterly dividend of $0.69. This represents a $2.86 dividend on an annualized basis and a yield of 4.16%. The ex-dividend date of this dividend is Friday, February 14th. Shell’s payout ratio is currently 56.97%.

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.