Thornburg Investment Management Inc. Sells 31,025 Shares of Shell plc (NYSE:SHEL)

Thornburg Investment Management Inc. decreased its holdings in shares of Shell plc (NYSE:SHEL - Free Report) by 24.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 98,088 shares of the energy company's stock after selling 31,025 shares during the quarter. Thornburg Investment Management Inc.'s holdings in Shell were worth $6,434,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Personalized Indexing Management LLC increased its position in Shell by 24.9% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 85,263 shares of the energy company's stock valued at $5,610,000 after purchasing an additional 16,975 shares during the period. Altman Advisors Inc. increased its holdings in Shell by 1.5% during the fourth quarter. Altman Advisors Inc. now owns 22,388 shares of the energy company's stock valued at $1,473,000 after buying an additional 333 shares during the period. Vise Technologies Inc. lifted its holdings in Shell by 5.9% during the fourth quarter. Vise Technologies Inc. now owns 18,500 shares of the energy company's stock worth $1,217,000 after buying an additional 1,024 shares during the period. Quotient Wealth Partners LLC bought a new stake in Shell during the 4th quarter valued at $301,000. Finally, Advisor OS LLC raised its position in shares of Shell by 8.5% in the 4th quarter. Advisor OS LLC now owns 4,829 shares of the energy company's stock worth $318,000 after acquiring an additional 379 shares in the last quarter. Institutional investors own 28.60% of the company's stock.

Shell Stock Down 1.0 %

Shares of SHEL traded down $0.75 during mid-day trading on Wednesday, hitting $73.32. 4,724,520 shares of the company traded hands, compared to its average volume of 4,640,670. Shell plc has a 1-year low of $55.78 and a 1-year high of $74.61. The company has a quick ratio of 1.14, a current ratio of 1.42 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $234.26 billion, a PE ratio of 13.53, a price-to-earnings-growth ratio of 1.90 and a beta of 0.59. The business has a 50 day moving average of $70.08 and a 200 day moving average of $66.39.

Shell Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 24th. Stockholders of record on Friday, May 17th will be issued a dividend of $0.688 per share. The ex-dividend date is Thursday, May 16th. This represents a $2.75 annualized dividend and a dividend yield of 3.75%. This is an increase from Shell's previous quarterly dividend of $0.66. Shell's dividend payout ratio is 50.74%.

Wall Street Analyst Weigh In

Several research firms have issued reports on SHEL. TD Securities lifted their target price on Shell from $74.00 to $81.00 and gave the company a "buy" rating in a research note on Friday, May 3rd. TheStreet upgraded shares of Shell from a "c" rating to a "b-" rating in a research note on Monday, January 29th. Finally, Wells Fargo & Company raised their target price on shares of Shell from $88.00 to $91.00 and gave the company an "overweight" rating in a research note on Friday, May 3rd. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Shell presently has an average rating of "Moderate Buy" and an average price target of $66.50.

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.

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