Alhambra Investment Management LLC Cuts Stake in Shell plc (NYSE:SHEL)

Alhambra Investment Management LLC decreased its holdings in Shell plc (NYSE:SHEL) by 19.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 12,749 shares of the energy company’s stock after selling 3,007 shares during the quarter. Alhambra Investment Management LLC’s holdings in Shell were worth $799,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. FMR LLC increased its holdings in Shell by 5.2% during 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 purchased a new stake in shares of Shell during the second quarter worth approximately $151,578,000. Jennison Associates LLC lifted its stake in Shell by 188.0% in the third quarter. Jennison Associates LLC now owns 3,014,199 shares of the energy company’s stock worth $198,786,000 after acquiring an additional 1,967,672 shares during the last quarter. Holocene Advisors LP grew its holdings in Shell by 29.8% during the 3rd 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 in the last quarter. Finally, Mediolanum International Funds Ltd acquired a new stake in shares of Shell in the 3rd quarter valued at $37,274,000. 28.60% of the stock is currently owned by institutional investors and hedge funds.

Shell Price Performance

Shares of NYSE:SHEL opened at $66.74 on Friday. Shell plc has a 52 week low of $60.15 and a 52 week high of $74.61. The company has a 50-day moving average price of $64.19 and a 200 day moving average price of $67.86. The company has a market cap of $205.36 billion, a P/E ratio of 13.73, a PEG ratio of 5.60 and a beta of 0.55. The company has a quick ratio of 1.13, a current ratio of 1.40 and a debt-to-equity ratio of 0.34.

Shell Dividend Announcement

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 yield of 4.12%. The ex-dividend date of this dividend was Friday, November 15th. Shell’s dividend payout ratio (DPR) is currently 56.58%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on SHEL shares. Sanford C. Bernstein upgraded Shell to a “strong-buy” rating in a research note on Friday, October 11th. Barclays upgraded Shell to a “strong-buy” rating in a research note on Wednesday, October 2nd. Morgan Stanley raised shares of Shell from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $66.50 to $79.80 in a report on Tuesday, January 7th. Wells Fargo & Company dropped their target price 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. Finally, Piper Sandler decreased their price objective on shares of Shell from $82.00 to $72.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, Shell has a consensus rating of “Buy” and a consensus target price of $79.69.

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.