Mitsubishi UFJ Asset Management Co. Ltd. Sells 815 Shares of Shell plc (NYSE:SHEL)

Mitsubishi UFJ Asset Management Co. Ltd. decreased its position in shares of Shell plc (NYSE:SHEL) by 11.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,180 shares of the energy company’s stock after selling 815 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Shell were worth $414,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Private Trust Co. NA grew its position in Shell by 14.7% during the fourth quarter. Private Trust Co. NA now owns 10,532 shares of the energy company’s stock valued at $693,000 after acquiring an additional 1,348 shares during the last quarter. FMR LLC lifted its stake in Shell by 29.1% in the third quarter. FMR LLC now owns 29,087,703 shares of the energy company’s stock worth $1,872,666,000 after purchasing an additional 6,554,340 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Shell by 5.9% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 109,843 shares of the energy company’s stock valued at $7,228,000 after buying an additional 6,138 shares during the last quarter. LPL Financial LLC grew its position in Shell by 11.0% during the 3rd quarter. LPL Financial LLC now owns 633,287 shares of the energy company’s stock worth $40,771,000 after acquiring an additional 62,792 shares during the last quarter. Finally, Synovus Financial Corp grew its holdings in shares of Shell by 16.2% in the third quarter. Synovus Financial Corp now owns 71,350 shares of the energy company’s stock worth $4,594,000 after purchasing an additional 9,924 shares during the last quarter. 28.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Shell Stock Down 1.3 %

SHEL stock opened at $70.49 on Thursday. The company has a market capitalization of $225.22 billion, a price-to-earnings ratio of 13.00, a price-to-earnings-growth ratio of 1.85 and a beta of 0.59. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.14 and a current ratio of 1.42. The business’s 50 day moving average price is $70.76 and its two-hundred day moving average price is $66.57. Shell plc has a fifty-two week low of $55.78 and a fifty-two week high of $74.61.

Shell Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 24th. Stockholders of record on Friday, May 17th will be issued a dividend of $0.688 per share. This represents a $2.75 dividend on an annualized basis and a dividend yield of 3.90%. The ex-dividend date of this dividend is Thursday, May 16th. This is a boost from Shell’s previous quarterly dividend of $0.66. Shell’s payout ratio is 50.74%.

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.