Wedge Capital Management L L P NC Trims Stock Position in Shell plc (NYSE:SHEL)

Wedge Capital Management L L P NC cut its holdings in Shell plc (NYSE:SHEL) by 0.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 262,003 shares of the energy company’s stock after selling 1,890 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Shell were worth $17,240,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Private Trust Co. NA increased its position in shares of Shell by 14.7% during the 4th quarter. Private Trust Co. NA now owns 10,532 shares of the energy company’s stock valued at $693,000 after purchasing an additional 1,348 shares during the last quarter. FMR LLC raised its holdings in Shell by 29.1% in the 3rd quarter. FMR LLC now owns 29,087,703 shares of the energy company’s stock worth $1,872,666,000 after purchasing an additional 6,554,340 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Shell by 5.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 109,843 shares of the energy company’s stock valued at $7,228,000 after acquiring an additional 6,138 shares during the period. LPL Financial LLC boosted its position in shares of Shell by 11.0% in the third quarter. LPL Financial LLC now owns 633,287 shares of the energy company’s stock worth $40,771,000 after purchasing an additional 62,792 shares during the period. Finally, Synovus Financial Corp boosted its position in shares of Shell by 16.2% in the third quarter. Synovus Financial Corp now owns 71,350 shares of the energy company’s stock worth $4,594,000 after purchasing an additional 9,924 shares during the period. Institutional investors own 28.60% of the company’s stock.

Shell Price Performance

Shell stock remained flat at $72.39 during mid-day trading on Tuesday. 706,487 shares of the company were exchanged, compared to its average volume of 4,725,300. The stock has a market capitalization of $232.92 billion, a P/E ratio of 12.79, a price-to-earnings-growth ratio of 2.22 and a beta of 0.62. The firm’s 50-day moving average price is $66.85 and its 200 day moving average price is $65.66. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.13 and a current ratio of 1.40. Shell plc has a 52 week low of $55.78 and a 52 week high of $73.94.

Shell (NYSE:SHEL) last released its quarterly earnings results on Thursday, February 1st. The energy company reported $2.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.94 by $0.28. The company had revenue of $80.13 billion for the quarter, compared to the consensus estimate of $89.59 billion. Shell had a net margin of 5.99% and a return on equity of 14.69%. During the same quarter in the prior year, the firm earned $2.76 earnings per share. As a group, sell-side analysts forecast that Shell plc will post 8.12 earnings per share for the current year.

Shell Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Friday, February 16th were paid a $0.662 dividend. This represents a $2.65 annualized dividend and a dividend yield of 3.66%. The ex-dividend date was Thursday, February 15th. Shell’s dividend payout ratio is currently 48.59%.

Analysts Set New Price Targets

Separately, TheStreet raised shares of Shell from a “c” rating to a “b-” rating in a report on Monday, January 29th.

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.