Shell plc (NYSE:SHEL) Position Trimmed by Manning & Napier Advisors LLC

Manning & Napier Advisors LLC cut its holdings in Shell plc (NYSE:SHEL) by 3.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 147,271 shares of the energy company’s stock after selling 5,224 shares during the period. Manning & Napier Advisors LLC’s holdings in Shell were worth $9,227,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. FMR LLC boosted its holdings in shares of Shell by 5.2% during the third quarter. FMR LLC now owns 65,298,943 shares of the energy company’s stock valued at $4,306,465,000 after acquiring an additional 3,255,347 shares during the period. Jennison Associates LLC boosted its stake in Shell by 188.0% during the 3rd 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 period. Holocene Advisors LP increased its stake in shares of Shell by 29.8% in the third quarter. Holocene Advisors LP now owns 3,773,617 shares of the energy company’s stock valued at $248,870,000 after purchasing an additional 866,954 shares during the period. Mediolanum International Funds Ltd bought a new stake in shares of Shell during the third quarter valued at approximately $37,274,000. Finally, Fisher Asset Management LLC boosted its position in shares of Shell by 2.1% during the third quarter. Fisher Asset Management LLC now owns 24,530,647 shares of the energy company’s stock worth $1,617,796,000 after buying an additional 507,311 shares during the period. Institutional investors own 28.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Morgan Stanley upgraded Shell from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $66.50 to $79.80 in a research report on Tuesday, January 7th. UBS Group upgraded shares of Shell from a “neutral” rating to a “buy” rating in a research report on Wednesday, January 8th. Wells Fargo & Company dropped their price target on shares of Shell from $87.00 to $86.00 and set an “overweight” rating on the stock in a research report on Friday, January 10th. Piper Sandler lowered their price objective on shares of Shell from $82.00 to $72.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. 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 research report on Friday, January 3rd. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Shell currently has an average rating of “Buy” and a consensus target price of $79.69.

Shell Price Performance

NYSE SHEL opened at $64.68 on Thursday. The stock has a market capitalization of $197.76 billion, a P/E ratio of 13.31, a P/E/G ratio of 5.89 and a beta of 0.55. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.13 and a current ratio of 1.40. The business’s fifty day moving average is $64.17 and its two-hundred day moving average is $67.42. Shell plc has a 1 year low of $60.15 and a 1 year high of $74.61.

Shell (NYSE:SHEL) last released its quarterly earnings results on Thursday, October 31st. The energy company reported $1.92 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.20. The business had revenue of $72.46 billion during the quarter, compared to analyst estimates of $84.58 billion. Shell had a return on equity of 14.54% and a net margin of 5.17%. During the same quarter last year, the company posted $1.86 EPS. On average, research analysts forecast that Shell plc will post 8.16 earnings per share for the current fiscal year.

Shell Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Friday, November 15th were given a $0.688 dividend. This represents a $2.75 annualized dividend and a dividend yield of 4.25%. The ex-dividend date of this dividend was Friday, November 15th. Shell’s dividend payout ratio (DPR) is currently 56.58%.

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.