PNC Financial Services Group Inc. Has $55.44 Million Position in Shell plc (NYSE:SHEL)

PNC Financial Services Group Inc. reduced its holdings in Shell plc (NYSE:SHEL) by 0.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 884,892 shares of the energy company’s stock after selling 5,288 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Shell were worth $55,438,000 as of its most recent filing with the SEC.

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

Shell Stock Up 1.2 %

Shares of SHEL opened at $66.80 on Monday. The company has a market capitalization of $203.16 billion, a P/E ratio of 13.31, a PEG ratio of 0.98 and a beta of 0.47. 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 plc has a one year low of $60.15 and a one year high of $74.61. The business’s 50 day simple moving average is $65.98 and its 200-day simple moving average is $66.38.

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

Shell Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Friday, February 14th will be issued 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 annualized dividend and a yield of 4.29%. Shell’s dividend payout ratio is currently 56.97%.

Wall Street Analysts Forecast Growth

SHEL has been the topic of a number of recent research reports. Morgan Stanley raised Shell from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $66.50 to $79.80 in a research report on Tuesday, January 7th. Piper Sandler decreased their price objective on Shell from $82.00 to $72.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. 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. UBS Group raised Shell from a “neutral” rating to a “buy” rating in a report on Wednesday, January 8th. Finally, Wells Fargo & Company decreased their price objective on Shell from $86.00 to $82.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. One 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 presently has a consensus rating of “Buy” and a consensus target price of $79.11.

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.