Gateway Wealth Partners LLC Trims Stock Holdings in Shell plc (NYSE:SHEL)

Gateway Wealth Partners LLC cut its holdings in Shell plc (NYSE:SHEL) by 5.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,113 shares of the energy company’s stock after selling 248 shares during the period. Gateway Wealth Partners LLC’s holdings in Shell were worth $258,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of SHEL. Coronation Fund Managers Ltd. lifted 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 buying an additional 1,068 shares in the last quarter. AQR Capital Management LLC boosted its holdings in Shell by 42.7% in the 2nd quarter. AQR Capital Management LLC now owns 21,701 shares of the energy company’s stock valued at $1,566,000 after purchasing an additional 6,495 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of Shell by 2.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 17,165 shares of the energy company’s stock valued at $1,239,000 after purchasing an additional 337 shares in the last quarter. NewEdge Advisors LLC raised its position in shares of Shell by 131.4% in the second quarter. NewEdge Advisors LLC now owns 81,982 shares of the energy company’s stock worth $5,917,000 after buying an additional 46,557 shares in the last quarter. Finally, Truist Financial Corp boosted its stake in Shell by 2.5% during the second quarter. Truist Financial Corp now owns 305,661 shares of the energy company’s stock valued at $22,063,000 after buying an additional 7,327 shares during the period. 28.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Morgan Stanley upgraded Shell from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $66.50 to $79.80 in a research report on Tuesday, January 7th. Citigroup raised shares of Shell to a “hold” rating in a research note on Wednesday, October 2nd. UBS Group raised shares of Shell from a “neutral” rating to a “buy” rating in a report on Wednesday, January 8th. Sanford C. Bernstein upgraded Shell to a “strong-buy” rating in a research report on Friday, October 11th. Finally, Wells Fargo & Company cut their price objective on Shell from $87.00 to $86.00 and set an “overweight” rating for the company in a report on Friday, January 10th. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $79.69.

Shell Price Performance

SHEL opened at $64.68 on Thursday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.40 and a quick ratio of 1.13. Shell plc has a 1 year low of $60.15 and a 1 year high of $74.61. The stock’s 50 day simple moving average is $64.17 and its 200 day simple moving average is $67.42. The firm has a market cap of $197.76 billion, a price-to-earnings ratio of 13.31, a PEG ratio of 5.89 and a beta of 0.55.

Shell (NYSE:SHEL) last issued its earnings results on Thursday, October 31st. The energy company reported $1.92 EPS for the quarter, topping the consensus estimate of $1.72 by $0.20. The company had revenue of $72.46 billion for the quarter, compared to the consensus estimate of $84.58 billion. Shell had a net margin of 5.17% and a return on equity of 14.54%. During the same period in the previous year, the firm earned $1.86 earnings per share. As a group, analysts predict that Shell plc will post 8.16 earnings per share for the current year.

Shell Announces Dividend

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

About Shell

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.