Principal Street Partners LLC Lowers Stock Holdings in Shell plc (NYSE:SHEL)

Principal Street Partners LLC lessened its holdings in Shell plc (NYSE:SHEL - Free Report) by 66.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,717 shares of the energy company's stock after selling 11,423 shares during the quarter. Principal Street Partners LLC's holdings in Shell were worth $358,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC lifted its holdings in shares of Shell by 51.7% in the 4th quarter. Brighton Jones LLC now owns 7,463 shares of the energy company's stock valued at $468,000 after purchasing an additional 2,545 shares during the last quarter. Private Advisor Group LLC boosted its holdings in shares of Shell by 0.9% in the fourth quarter. Private Advisor Group LLC now owns 33,168 shares of the energy company's stock valued at $2,078,000 after acquiring an additional 301 shares during the period. Barclays PLC grew its position in shares of Shell by 136.2% during the fourth quarter. Barclays PLC now owns 7,824 shares of the energy company's stock worth $490,000 after acquiring an additional 4,512 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Shell by 8.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 199,856 shares of the energy company's stock valued at $12,521,000 after purchasing an additional 14,937 shares during the last quarter. Finally, Lockheed Martin Investment Management Co. boosted its stake in Shell by 266.1% during the 4th quarter. Lockheed Martin Investment Management Co. now owns 122,030 shares of the energy company's stock worth $7,645,000 after purchasing an additional 88,700 shares during the period. 28.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on SHEL shares. Wells Fargo & Company lowered their target price on Shell from $83.00 to $80.00 and set an "overweight" rating on the stock in a research note on Monday, May 5th. Barclays reiterated an "overweight" rating on shares of Shell in a research report on Wednesday, March 26th. Hsbc Global Res upgraded shares of Shell to a "strong-buy" rating in a research report on Tuesday, May 13th. Scotiabank reduced their price objective on shares of Shell from $75.00 to $70.00 and set a "sector outperform" rating for the company in a research report on Friday, April 11th. Finally, TD Cowen cut their target price on Shell from $82.00 to $76.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. One investment analyst has rated the stock with a hold rating, eleven have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $78.35.

Shell Price Performance

Shares of Shell stock traded up $0.31 on Monday, hitting $66.26. The company's stock had a trading volume of 3,064,455 shares, compared to its average volume of 4,305,328. The company has a market capitalization of $199.31 billion, a P/E ratio of 13.20, a price-to-earnings-growth ratio of 0.98 and a beta of 0.38. Shell plc has a 52-week low of $58.55 and a 52-week high of $74.46. The firm has a fifty day moving average price of $66.53 and a 200-day moving average price of $65.81. The company has a quick ratio of 1.10, a current ratio of 1.35 and a debt-to-equity ratio of 0.36.

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

Shell Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 23rd. Stockholders of record on Friday, May 16th will be given a $0.716 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $2.86 annualized dividend and a dividend yield of 4.32%. Shell's dividend payout ratio is currently 65.90%.

Shell declared that its Board of Directors has authorized a stock repurchase plan on Friday, May 2nd that permits the company to repurchase $3.50 billion in shares. This repurchase authorization permits the energy company to buy up to 1.8% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's management believes its stock is undervalued.

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.