Cary Street Partners Asset Management LLC Reduces Stock Holdings in Shell plc (NYSE:SHEL)

Cary Street Partners Asset Management LLC trimmed its holdings in shares of Shell plc (NYSE:SHEL) by 4.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 52,148 shares of the energy company’s stock after selling 2,505 shares during the quarter. Cary Street Partners Asset Management LLC’s holdings in Shell were worth $3,431,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FMR LLC grew its stake in Shell by 29.1% during the 3rd quarter. FMR LLC now owns 29,087,703 shares of the energy company’s stock valued at $1,872,666,000 after purchasing an additional 6,554,340 shares during the last quarter. Morgan Stanley grew its position in shares of Shell by 4.3% in the third quarter. Morgan Stanley now owns 9,356,191 shares of the energy company’s stock valued at $602,352,000 after purchasing an additional 384,967 shares in the last quarter. Wellington Management Group LLP raised its position in Shell by 10.7% in the third quarter. Wellington Management Group LLP now owns 8,742,878 shares of the energy company’s stock valued at $562,866,000 after purchasing an additional 848,104 shares during the period. Bank of New York Mellon Corp raised its position in Shell by 10.2% in the third quarter. Bank of New York Mellon Corp now owns 4,435,003 shares of the energy company’s stock valued at $285,526,000 after purchasing an additional 409,016 shares during the period. Finally, Pzena Investment Management LLC raised its holdings in shares of Shell by 1.6% in the 3rd quarter. Pzena Investment Management LLC now owns 3,939,739 shares of the energy company’s stock valued at $253,640,000 after buying an additional 61,583 shares during the period. 28.60% of the stock is currently owned by hedge funds and other institutional investors.

Shell Stock Performance

Shares of NYSE SHEL traded down $0.86 during trading hours on Wednesday, reaching $70.80. The stock had a trading volume of 1,311,947 shares, compared to its average volume of 4,676,289. The firm has a market cap of $227.81 billion, a price-to-earnings ratio of 12.66, a PEG ratio of 1.73 and a beta of 0.62. The company has a current ratio of 1.40, a quick ratio of 1.13 and a debt-to-equity ratio of 0.38. Shell plc has a fifty-two week low of $55.78 and a fifty-two week high of $73.94. The firm has a 50-day moving average of $67.97 and a 200-day moving average of $65.94.

Shell (NYSE:SHEL) last announced its 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. Shell had a return on equity of 14.69% and a net margin of 5.99%. The firm had revenue of $80.13 billion during the quarter, compared to analysts’ expectations of $89.59 billion. During the same period in the prior year, the firm earned $2.76 EPS. Equities research analysts predict that Shell plc will post 8.16 earnings per share for the current year.

Shell Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Friday, February 16th were given a dividend of $0.662 per share. The ex-dividend date was Thursday, February 15th. This represents a $2.65 dividend on an annualized basis and a yield of 3.74%. Shell’s payout ratio is 48.59%.

Analyst Ratings Changes

Separately, TheStreet upgraded 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.