Cullen Investment Group LTD. Sells 202 Shares of Shell plc (NYSE:SHEL)

Cullen Investment Group LTD. decreased its holdings in shares of Shell plc (NYSE:SHEL) by 1.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,944 shares of the energy company’s stock after selling 202 shares during the quarter. Cullen Investment Group LTD.’s holdings in Shell were worth $1,312,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. FMR LLC boosted its stake in Shell by 5.2% in the 3rd quarter. FMR LLC now owns 65,298,943 shares of the energy company’s stock worth $4,306,465,000 after purchasing an additional 3,255,347 shares during the period. Empyrean Capital Partners LP acquired a new stake in Shell in the 2nd quarter valued at about $151,578,000. Jennison Associates LLC increased its holdings in shares of Shell by 188.0% in the third quarter. Jennison Associates LLC now owns 3,014,199 shares of the energy company’s stock valued at $198,786,000 after purchasing an additional 1,967,672 shares during the last quarter. Holocene Advisors LP lifted its position in Shell by 29.8% during the third quarter. Holocene Advisors LP now owns 3,773,617 shares of the energy company’s stock worth $248,870,000 after acquiring an additional 866,954 shares during the last quarter. Finally, Mediolanum International Funds Ltd acquired a new position in Shell in the 3rd quarter valued at $37,274,000. Institutional investors own 28.60% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Scotiabank cut their target price on Shell from $90.00 to $80.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Piper Sandler lowered their price target on shares of Shell from $82.00 to $72.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Barclays raised shares of Shell to a “strong-buy” rating in a research note on Wednesday, October 2nd. Wells Fargo & Company reduced their price objective on shares of Shell from $87.00 to $86.00 and set an “overweight” rating on the stock in a research note on Friday. Finally, Wolfe Research upgraded Shell from a “peer perform” rating to an “outperform” rating and set a $80.00 target price for the company in a report on Friday, January 3rd. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $79.69.

Shell Stock Up 0.1 %

SHEL stock opened at $64.99 on Tuesday. Shell plc has a fifty-two week low of $60.15 and a fifty-two week high of $74.61. The company has a market capitalization of $199.99 billion, a price-to-earnings ratio of 13.37, a price-to-earnings-growth ratio of 4.84 and a beta of 0.55. The business’s 50 day moving average price is $64.32 and its two-hundred day moving average price is $67.96. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.13 and a current ratio of 1.40.

Shell Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Friday, November 15th were issued a $0.688 dividend. This represents a $2.75 dividend on an annualized basis and a dividend yield of 4.23%. The ex-dividend date of this dividend was Friday, November 15th. Shell’s payout ratio is 56.58%.

Shell Company 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.