CIBC Private Wealth Group LLC Sells 5,321 Shares of Shell plc (NYSE:SHEL)

CIBC Private Wealth Group LLC lowered its holdings in shares of Shell plc (NYSE:SHEL) by 0.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 929,488 shares of the energy company’s stock after selling 5,321 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Shell were worth $60,156,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. CoreFirst Bank & Trust acquired a new position in Shell in the fourth quarter worth about $28,000. Valley National Advisers Inc. lifted its position in shares of Shell by 930.2% during the 4th quarter. Valley National Advisers Inc. now owns 443 shares of the energy company’s stock worth $27,000 after buying an additional 400 shares during the period. Human Investing LLC acquired a new stake in Shell in the 4th quarter valued at $31,000. Millstone Evans Group LLC acquired a new position in Shell during the fourth quarter worth $36,000. Finally, Summit Securities Group LLC boosted its stake in shares of Shell by 50.0% in the 4th quarter. Summit Securities Group LLC now owns 600 shares of the energy company’s stock valued at $38,000 after purchasing an additional 200 shares in the last quarter. Institutional investors and hedge funds own 28.60% of the company’s stock.

Shell Price Performance

SHEL opened at $72.74 on Monday. The company has a fifty day moving average price of $67.68 and a two-hundred day moving average price of $66.42. 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 has a market capitalization of $219.95 billion, a PE ratio of 14.49, a P/E/G ratio of 0.98 and a beta of 0.47. Shell plc has a 52 week low of $60.15 and a 52 week high of $74.61.

Shell (NYSE:SHEL) last released its quarterly earnings data 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 net margin of 5.57% and a return on equity of 12.75%. As a group, analysts anticipate that Shell plc will post 7.67 earnings per share for the current year.

Shell Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Friday, February 14th were paid a $0.716 dividend. This represents a $2.86 dividend on an annualized basis and a yield of 3.94%. This is a boost from Shell’s previous quarterly dividend of $0.69. The ex-dividend date was Friday, February 14th. Shell’s payout ratio is presently 56.97%.

Analyst Ratings Changes

Several brokerages recently issued reports on SHEL. Wells Fargo & Company lifted their price target on shares of Shell from $81.00 to $87.00 and gave the company an “overweight” rating in a report on Wednesday, March 26th. UBS Group raised Shell from a “neutral” rating to a “buy” rating in a report on Wednesday, January 8th. Piper Sandler decreased their target price on Shell from $82.00 to $72.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. TD Securities upped their price target on shares of Shell from $81.00 to $82.00 and gave the stock a “buy” rating in a research report on Wednesday, March 19th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating on shares of Shell in a research note on Wednesday. One research analyst has rated the stock with a hold rating, ten have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $80.10.

Shell 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.