Shell plc (NYSE:SHEL) Shares Sold by Nikko Asset Management Americas Inc.

Nikko Asset Management Americas Inc. cut its holdings in Shell plc (NYSE:SHEL) by 4.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 134,343 shares of the energy company’s stock after selling 5,621 shares during the quarter. Nikko Asset Management Americas Inc.’s holdings in Shell were worth $8,840,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Provence Wealth Management Group acquired a new stake in Shell during the 3rd quarter worth about $26,000. VisionPoint Advisory Group LLC acquired a new stake in shares of Shell during the third quarter worth about $26,000. Rise Advisors LLC increased its holdings in Shell by 84.4% in the 4th quarter. Rise Advisors LLC now owns 413 shares of the energy company’s stock worth $27,000 after buying an additional 189 shares during the period. Valley National Advisers Inc. lifted its stake in Shell by 217.7% during the 4th quarter. Valley National Advisers Inc. now owns 413 shares of the energy company’s stock valued at $27,000 after acquiring an additional 283 shares during the period. Finally, Headlands Technologies LLC acquired a new stake in shares of Shell in the third quarter worth $32,000. Hedge funds and other institutional investors own 28.60% of the company’s stock.

Shell Stock Down 2.1 %

Shares of NYSE:SHEL traded down $1.55 during trading on Thursday, hitting $71.75. 5,038,059 shares of the company were exchanged, compared to its average volume of 4,642,342. The firm’s 50 day moving average price is $70.23 and its 200-day moving average price is $66.42. Shell plc has a 12-month low of $55.78 and a 12-month high of $74.61. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.42 and a quick ratio of 1.14. The stock has a market capitalization of $229.26 billion, a P/E ratio of 13.24, a PEG ratio of 1.90 and a beta of 0.59.

Shell Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 24th. Shareholders of record on Friday, May 17th will be paid a $0.688 dividend. The ex-dividend date is Thursday, May 16th. This represents a $2.75 dividend on an annualized basis and a yield of 3.84%. This is a boost from Shell’s previous quarterly dividend of $0.66. Shell’s payout ratio is currently 50.74%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on SHEL shares. TheStreet upgraded Shell from a “c” rating to a “b-” rating in a research report on Monday, January 29th. TD Securities increased their price target on shares of Shell from $74.00 to $81.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. Finally, Wells Fargo & Company lifted their price objective on shares of Shell from $88.00 to $91.00 and gave the company an “overweight” rating in a report on Friday, May 3rd. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Shell has an average rating of “Moderate Buy” and an average target price of $66.50.

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.