Equity Investment Corp Decreases Stake in Shell plc (NYSE:SHEL)

Equity Investment Corp lowered its holdings in Shell plc (NYSE:SHEL - Free Report) by 3.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 917,207 shares of the energy company's stock after selling 35,218 shares during the quarter. Equity Investment Corp's holdings in Shell were worth $60,352,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in SHEL. Allworth Financial LP increased its position in Shell by 9.1% during the 3rd quarter. Allworth Financial LP now owns 8,231 shares of the energy company's stock valued at $530,000 after purchasing an additional 684 shares during the period. McAdam LLC raised its holdings in shares of Shell by 9.9% in the 3rd quarter. McAdam LLC now owns 4,650 shares of the energy company's stock valued at $299,000 after acquiring an additional 417 shares in the last quarter. 180 Wealth Advisors LLC boosted its stake in Shell by 3.8% in the third quarter. 180 Wealth Advisors LLC now owns 9,042 shares of the energy company's stock worth $582,000 after buying an additional 328 shares in the last quarter. Genus Capital Management Inc. purchased a new position in shares of Shell in the third quarter worth $227,000. Finally, Baron Wealth Management LLC lifted its stake in Shell by 12.5% in the third quarter. Baron Wealth Management LLC now owns 6,235 shares of the energy company's stock worth $401,000 after acquiring an additional 694 shares during the period. Institutional investors and hedge funds own 28.60% of the company's stock.

Shell Trading Up 0.3 %

SHEL stock traded up $0.18 during trading on Friday, reaching $71.92. 4,790,547 shares of the stock traded hands, compared to its average volume of 4,116,791. The business's 50 day moving average price is $70.38 and its 200-day moving average price is $66.46. The firm has a market capitalization of $229.81 billion, a PE ratio of 13.27, a P/E/G ratio of 1.86 and a beta of 0.59. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.42 and a quick ratio of 1.14. Shell plc has a 52-week low of $55.78 and a 52-week high of $74.61.

Shell Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 24th. Shareholders of record on Friday, May 17th will be paid a $0.688 dividend. This represents a $2.75 annualized dividend and a yield of 3.83%. The ex-dividend date is Thursday, May 16th. This is a positive change from Shell's previous quarterly dividend of $0.66. Shell's dividend payout ratio is currently 50.74%.

Wall Street Analysts Forecast Growth

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

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.