Douglas Lane & Associates LLC Sells 103,839 Shares of Shell plc (NYSE:SHEL)

Douglas Lane & Associates LLC decreased its holdings in Shell plc (NYSE:SHEL - Free Report) by 16.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 514,477 shares of the energy company's stock after selling 103,839 shares during the quarter. Douglas Lane & Associates LLC's holdings in Shell were worth $37,701,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. FMR LLC boosted its holdings in shares of Shell by 32.3% in the fourth quarter. FMR LLC now owns 86,417,177 shares of the energy company's stock worth $5,414,036,000 after buying an additional 21,118,234 shares during the period. Fisher Asset Management LLC boosted its position in shares of Shell by 1.7% in the fourth quarter. Fisher Asset Management LLC now owns 24,938,735 shares of the energy company's stock worth $1,562,412,000 after buying an additional 408,088 shares during the period. Wellington Management Group LLP raised its position in Shell by 3.1% during the fourth quarter. Wellington Management Group LLP now owns 7,982,817 shares of the energy company's stock valued at $500,123,000 after buying an additional 238,705 shares during the period. Franklin Resources Inc. lifted its position in shares of Shell by 0.8% in the fourth quarter. Franklin Resources Inc. now owns 6,023,173 shares of the energy company's stock worth $377,352,000 after purchasing an additional 50,228 shares in the last quarter. Finally, Voloridge Investment Management LLC grew its holdings in shares of Shell by 170.3% during the 4th quarter. Voloridge Investment Management LLC now owns 3,463,372 shares of the energy company's stock valued at $216,980,000 after acquiring an additional 2,182,253 shares in the last quarter. Institutional investors and hedge funds own 28.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. TD Cowen lowered their price target on Shell from $82.00 to $76.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Wells Fargo & Company cut their price objective on Shell from $83.00 to $80.00 and set an "overweight" rating for the company in a research report on Monday, May 5th. Scotiabank dropped their price target on Shell from $75.00 to $70.00 and set a "sector outperform" rating on the stock in a research report on Friday, April 11th. TD Securities reissued a "buy" rating on shares of Shell in a research report on Friday, April 4th. Finally, Piper Sandler upped their target price on shares of Shell from $72.00 to $80.00 and gave the company an "overweight" rating in a research note on Tuesday, May 13th. One equities research analyst has rated the stock with a hold rating, eleven have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $78.35.

Shell Trading Up 0.8%

Shell stock traded up $0.51 during midday trading on Thursday, hitting $67.78. 2,239,378 shares of the stock were exchanged, compared to its average volume of 4,761,214. The company has a fifty day simple moving average of $65.68 and a two-hundred day simple moving average of $65.85. 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 stock has a market capitalization of $202.59 billion, a PE ratio of 13.50, a P/E/G ratio of 0.98 and a beta of 0.38. Shell plc has a 52 week low of $58.54 and a 52 week high of $74.46.

Shell (NYSE:SHEL - Get Free Report) last posted its earnings results on Friday, May 2nd. The energy company reported $1.84 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.54 by $0.30. Shell had a return on equity of 12.75% and a net margin of 5.57%. The firm had revenue of $69.23 billion during the quarter, compared to analysts' expectations of $79.18 billion. During the same period in the previous year, the firm earned $2.40 earnings per share. Equities research analysts anticipate that Shell plc will post 7.67 EPS for the current fiscal year.

Shell Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 23rd. Investors of record on Friday, May 16th will be issued a dividend of $0.716 per share. The ex-dividend date is Friday, May 16th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 4.23%. Shell's payout ratio is 65.90%.

Shell announced that its board has initiated a stock buyback plan on Friday, May 2nd that permits the company to repurchase $3.50 billion in outstanding shares. This repurchase authorization permits the energy company to reacquire up to 1.8% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board of directors believes its stock is undervalued.

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.