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

Cullen Investment Group LTD. reduced its stake in shares of Shell plc (NYSE:SHEL) by 1.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,944 shares of the energy company’s stock after selling 202 shares during the period. Cullen Investment Group LTD.’s holdings in Shell were worth $1,312,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SHEL. Coronation Fund Managers Ltd. increased its holdings in shares of Shell by 7.6% in the second quarter. Coronation Fund Managers Ltd. now owns 15,201 shares of the energy company’s stock worth $1,097,000 after purchasing an additional 1,068 shares during the last quarter. Rhumbline Advisers raised its position in shares of Shell by 9.8% during the 2nd quarter. Rhumbline Advisers now owns 35,107 shares of the energy company’s stock valued at $2,534,000 after buying an additional 3,143 shares in the last quarter. American Century Companies Inc. increased its stake in Shell by 7.3% during the second quarter. American Century Companies Inc. now owns 787,069 shares of the energy company’s stock worth $56,811,000 after acquiring an additional 53,209 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of Shell by 6.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 2,248,366 shares of the energy company’s stock worth $162,287,000 after purchasing an additional 136,139 shares during the period. Finally, J.W. Cole Advisors Inc. increased its holdings in Shell by 7.4% during the second quarter. J.W. Cole Advisors Inc. now owns 12,861 shares of the energy company’s stock valued at $928,000 after buying an additional 887 shares during the period. Institutional investors own 28.60% of the company’s stock.

Shell Trading Up 0.1 %

SHEL opened at $64.99 on Tuesday. Shell plc has a 1-year low of $60.15 and a 1-year high of $74.61. The firm 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 company has a debt-to-equity ratio of 0.34, a current ratio of 1.40 and a quick ratio of 1.13. The company’s 50 day simple moving average is $64.32 and its two-hundred day simple moving average is $67.96.

Shell Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Investors 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 4.23%. The ex-dividend date of this dividend was Friday, November 15th. Shell’s dividend payout ratio is presently 56.58%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on SHEL shares. Citigroup raised Shell to a “hold” rating in a research report on Wednesday, October 2nd. UBS Group upgraded shares of Shell from a “neutral” rating to a “buy” rating in a research note on Wednesday, January 8th. Barclays upgraded shares of Shell to a “strong-buy” rating in a research note on Wednesday, October 2nd. Morgan Stanley upgraded Shell from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $66.50 to $79.80 in a research note on Tuesday, January 7th. Finally, Wells Fargo & Company reduced their price objective on Shell from $87.00 to $86.00 and set an “overweight” rating for the company in a research note on Friday. One research analyst has rated the stock with a hold rating, eight have given a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average 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.