Sanibel Captiva Trust Company Inc. Sells 1,132 Shares of Shell plc (NYSE:SHEL)

Sanibel Captiva Trust Company Inc. lessened its position in shares of Shell plc (NYSE:SHEL) by 2.8% in the first quarter, Holdings Channel reports. The fund owned 39,386 shares of the energy company’s stock after selling 1,132 shares during the quarter. Sanibel Captiva Trust Company Inc.’s holdings in Shell were worth $2,886,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Brighton Jones LLC lifted its stake in shares of Shell by 51.7% during the 4th quarter. Brighton Jones LLC now owns 7,463 shares of the energy company’s stock worth $468,000 after acquiring an additional 2,545 shares during the last quarter. Private Advisor Group LLC raised its holdings in shares of Shell by 0.9% during the fourth quarter. Private Advisor Group LLC now owns 33,168 shares of the energy company’s stock valued at $2,078,000 after acquiring an additional 301 shares during the last quarter. Barclays PLC increased its holdings in shares of Shell by 136.2% in the fourth quarter. Barclays PLC now owns 7,824 shares of the energy company’s stock valued at $490,000 after purchasing an additional 4,512 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Shell by 8.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 199,856 shares of the energy company’s stock worth $12,521,000 after acquiring an additional 14,937 shares during the last quarter. Finally, Americana Partners LLC boosted its holdings in Shell by 373.2% in the fourth quarter. Americana Partners LLC now owns 235,467 shares of the energy company’s stock valued at $14,752,000 after purchasing an additional 185,711 shares during the period. Hedge funds and other institutional investors own 28.60% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on SHEL shares. TD Cowen decreased their price target on Shell from $82.00 to $76.00 and set a “buy” rating on the stock in a research note on Tuesday, April 8th. Royal Bank of Canada reiterated an “outperform” rating on shares of Shell in a research report on Wednesday, March 26th. Piper Sandler boosted their target price on Shell from $72.00 to $80.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 13th. TD Securities restated a “buy” rating on shares of Shell in a research note on Friday, April 4th. Finally, Barclays reissued an “overweight” rating on shares of Shell in a report on Wednesday, March 26th. One analyst has rated the stock with a hold rating, ten have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $78.26.

Shell Stock Performance

Shell stock opened at $70.05 on Wednesday. The firm has a fifty day simple moving average of $65.37 and a two-hundred day simple moving average of $65.92. Shell plc has a twelve month low of $58.55 and a twelve month high of $74.46. The company has a market capitalization of $209.35 billion, a PE ratio of 13.95, a P/E/G ratio of 0.98 and a beta of 0.39. The company has a quick ratio of 1.10, a current ratio of 1.35 and a debt-to-equity ratio of 0.36.

Shell (NYSE:SHEL) last announced its quarterly earnings data on Friday, May 2nd. The energy company reported $1.84 earnings per share for the quarter, topping analysts’ consensus estimates of $1.54 by $0.30. The business had revenue of $69.23 billion for the quarter, compared to analysts’ expectations of $79.18 billion. Shell had a net margin of 5.57% and a return on equity of 12.75%. During the same quarter in the prior year, the company earned $2.40 earnings per share. Research analysts expect that Shell plc will post 7.67 EPS for the current year.

Shell announced that its Board of Directors has authorized a share repurchase plan on Friday, May 2nd that authorizes the company to buyback $3.50 billion in shares. This buyback authorization authorizes the energy company to reacquire up to 1.8% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Shell Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 23rd. Investors of record on Friday, May 16th will be paid a dividend of $0.716 per share. The ex-dividend date is Friday, May 16th. This represents a $2.86 annualized dividend and a yield of 4.09%. Shell’s payout ratio is 65.90%.

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.