Norden Group LLC Sells 759 Shares of Shell plc (NYSE:SHEL)

Norden Group LLC trimmed its stake in Shell plc (NYSE:SHEL) by 6.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,154 shares of the energy company’s stock after selling 759 shares during the period. Norden Group LLC’s holdings in Shell were worth $699,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Valley National Advisers Inc. raised its position in shares of Shell by 930.2% in the 4th quarter. Valley National Advisers Inc. now owns 443 shares of the energy company’s stock worth $27,000 after acquiring an additional 400 shares in the last quarter. Human Investing LLC purchased a new stake in Shell in the fourth quarter valued at about $31,000. Valley Wealth Managers Inc. purchased a new stake in Shell in the third quarter valued at about $33,000. Brooklyn Investment Group purchased a new stake in Shell in the third quarter valued at about $35,000. Finally, Sierra Ocean LLC purchased a new stake in Shell in the fourth quarter valued at about $39,000. 28.60% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on SHEL shares. Wells Fargo & Company decreased their price target on Shell from $86.00 to $82.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Piper Sandler decreased their price target on Shell from $82.00 to $72.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Morgan Stanley raised Shell from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $66.50 to $79.80 in a report on Tuesday, January 7th. UBS Group raised Shell from a “neutral” rating to a “buy” rating in a report on Wednesday, January 8th. Finally, Wolfe Research raised Shell from a “peer perform” rating to an “outperform” rating and set a $80.00 price objective on the stock 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $79.11.

Shell Stock Performance

NYSE SHEL opened at $66.49 on Tuesday. The company has a market cap of $202.22 billion, a PE ratio of 13.25, a price-to-earnings-growth ratio of 0.98 and a beta of 0.54. The stock’s 50 day simple moving average is $65.49 and its 200-day simple moving average is $66.59. Shell plc has a 1-year low of $60.15 and a 1-year high of $74.61. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.35 and a quick ratio of 1.10.

Shell (NYSE:SHEL) last released its earnings results on Thursday, January 30th. The energy company reported $1.20 earnings per share for the quarter, missing the consensus estimate of $1.74 by ($0.54). Shell had a net margin of 5.57% and a return on equity of 12.75%. As a group, equities research analysts anticipate that Shell plc will post 7.67 EPS for the current fiscal year.

Shell Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Friday, February 14th will be given a dividend of $0.716 per share. This is an increase from Shell’s previous quarterly dividend of $0.69. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.86 dividend on an annualized basis and a yield of 4.31%. Shell’s dividend payout ratio (DPR) is presently 56.97%.

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.