TIAA Trust National Association Sells 1,134 Shares of Shell plc (NYSE:SHEL)

TIAA Trust National Association cut its stake in shares of Shell plc (NYSE:SHEL) by 8.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,709 shares of the energy company’s stock after selling 1,134 shares during the period. TIAA Trust National Association’s holdings in Shell were worth $734,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Brighton Jones LLC boosted its stake in Shell by 51.7% during the fourth quarter. Brighton Jones LLC now owns 7,463 shares of the energy company’s stock worth $468,000 after buying an additional 2,545 shares during the period. Private Advisor Group LLC lifted its holdings in shares of Shell by 0.9% in the 4th quarter. Private Advisor Group LLC now owns 33,168 shares of the energy company’s stock worth $2,078,000 after acquiring an additional 301 shares during the last quarter. HF Advisory Group LLC grew its holdings in Shell by 15.8% during the 4th quarter. HF Advisory Group LLC now owns 29,560 shares of the energy company’s stock valued at $1,852,000 after purchasing an additional 4,028 shares during the last quarter. Rockefeller Capital Management L.P. raised its position in Shell by 1.5% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 3,125,284 shares of the energy company’s stock worth $206,116,000 after purchasing an additional 46,293 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Shell by 8.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 199,856 shares of the energy company’s stock valued at $12,521,000 after buying an additional 14,937 shares during the period. Hedge funds and other institutional investors own 28.60% of the company’s stock.

Shell Stock Performance

Shares of NYSE:SHEL opened at $73.35 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.35 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $221.80 billion, a price-to-earnings ratio of 14.61, a price-to-earnings-growth ratio of 0.98 and a beta of 0.47. The firm has a 50 day moving average of $67.56 and a 200 day moving average of $66.38. Shell plc has a 52 week low of $60.15 and a 52 week high of $74.61.

Shell (NYSE:SHEL) last issued its quarterly earnings data on Thursday, January 30th. The energy company reported $1.20 earnings per share 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%. On average, sell-side analysts predict that Shell plc will post 7.67 earnings per share for the current fiscal year.

Shell Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Friday, February 14th were paid a dividend of $0.716 per share. This represents a $2.86 annualized dividend and a dividend yield of 3.90%. The ex-dividend date of this dividend was Friday, February 14th. This is a positive change from Shell’s previous quarterly dividend of $0.69. Shell’s payout ratio is 56.97%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on SHEL shares. TD Securities raised their price target on Shell from $81.00 to $82.00 and gave the stock a “buy” rating in a research note on Wednesday, March 19th. TD Cowen started coverage on shares of Shell in a research note on Wednesday, March 19th. They set a “buy” rating and a $81.00 target price for the company. Morgan Stanley raised shares of Shell from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $66.50 to $79.80 in a research note on Tuesday, January 7th. 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 research note on Thursday, December 19th. Finally, UBS Group raised shares of Shell from a “neutral” rating to a “buy” rating in a research note on Wednesday, January 8th. One investment analyst has rated the stock with a hold rating, nine have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $80.10.

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.