Drive Wealth Management LLC Sells 292 Shares of Shell plc (NYSE:SHEL)

Drive Wealth Management LLC lessened its position in Shell plc (NYSE:SHEL) by 4.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,057 shares of the energy company’s stock after selling 292 shares during the period. Drive Wealth Management LLC’s holdings in Shell were worth $473,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in SHEL. FMR LLC boosted its stake in shares of Shell by 29.1% in 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. Invesco Ltd. raised its position in shares of Shell by 162.9% in the 3rd quarter. Invesco Ltd. now owns 1,763,562 shares of the energy company’s stock valued at $113,538,000 after acquiring an additional 1,092,670 shares during the period. Mawer Investment Management Ltd. raised its position in shares of Shell by 19.9% in the 4th quarter. Mawer Investment Management Ltd. now owns 5,325,276 shares of the energy company’s stock valued at $350,403,000 after acquiring an additional 885,069 shares during the period. Wellington Management Group LLP raised its position in shares of Shell by 10.7% in the 3rd quarter. Wellington Management Group LLP now owns 8,742,878 shares of the energy company’s stock valued at $562,866,000 after acquiring an additional 848,104 shares during the period. Finally, L1 Capital Pty Ltd raised its position in shares of Shell by 188.7% in the 3rd quarter. L1 Capital Pty Ltd now owns 1,224,617 shares of the energy company’s stock valued at $78,841,000 after acquiring an additional 800,365 shares during the period. Institutional investors and hedge funds own 28.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, TheStreet upgraded shares of Shell from a “c” rating to a “b-” rating in a report on Monday, January 29th.

Shell Stock Performance

Shares of Shell stock remained flat at $73.27 on Friday. The company’s stock had a trading volume of 3,880,010 shares, compared to its average volume of 4,799,317. The firm has a market cap of $235.75 billion, a P/E ratio of 12.95, a P/E/G ratio of 1.74 and a beta of 0.62. Shell plc has a 52-week low of $55.78 and a 52-week high of $73.94. The business has a 50 day moving average price of $67.62 and a 200-day moving average price of $65.87. The company has a quick ratio of 1.13, a current ratio of 1.40 and a debt-to-equity ratio of 0.38.

Shell (NYSE:SHEL) last issued its earnings results on Thursday, February 1st. The energy company reported $2.22 earnings per share for the quarter, topping 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 company had revenue of $80.13 billion for the quarter, compared to analyst estimates of $89.59 billion. During the same period in the prior year, the firm earned $2.76 earnings per share. On average, analysts expect that Shell plc will post 8.16 EPS for the current fiscal year.

Shell Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Friday, February 16th were given a dividend of $0.662 per share. This represents a $2.65 annualized dividend and a dividend yield of 3.61%. The ex-dividend date was Thursday, February 15th. Shell’s dividend payout ratio is presently 48.59%.

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.