Parsons Capital Management Inc. RI Sells 212 Shares of Shell plc (NYSE:SHEL)

Parsons Capital Management Inc. RI reduced its stake in shares of Shell plc (NYSE:SHEL) by 2.8% in the first quarter, Holdings Channel reports. The fund owned 7,386 shares of the energy company’s stock after selling 212 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in Shell were worth $495,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Provence Wealth Management Group purchased a new stake in shares of Shell during the 3rd quarter valued at approximately $26,000. VisionPoint Advisory Group LLC purchased a new stake in shares of Shell during the 3rd quarter valued at $26,000. Rise Advisors LLC raised its position in shares of Shell by 84.4% during the 4th quarter. Rise Advisors LLC now owns 413 shares of the energy company’s stock valued at $27,000 after buying an additional 189 shares in the last quarter. Valley National Advisers Inc. raised its position in shares of 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 buying an additional 283 shares in the last quarter. Finally, Beaird Harris Wealth Management LLC raised its position in shares of Shell by 611.1% during the 4th quarter. Beaird Harris Wealth Management LLC now owns 448 shares of the energy company’s stock valued at $29,000 after buying an additional 385 shares in the last quarter. 28.60% of the stock is owned by institutional investors.

Shell Stock Performance

Shares of SHEL stock remained flat at $73.27 on Friday. 3,880,010 shares of the company traded hands, compared to its average volume of 4,799,317. Shell plc has a 52 week low of $55.78 and a 52 week high of $73.94. The stock has a market cap of $235.75 billion, a PE ratio of 12.95, a price-to-earnings-growth ratio of 1.74 and a beta of 0.62. The firm’s 50 day moving average is $67.62 and its two-hundred day moving average is $65.86. 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 posted its quarterly earnings data on Thursday, February 1st. The energy company reported $2.22 EPS for the quarter, topping the consensus estimate of $1.94 by $0.28. Shell had a net margin of 5.99% and a return on equity of 14.69%. The business had revenue of $80.13 billion for the quarter, compared to analyst estimates of $89.59 billion. During the same quarter in the previous year, the firm posted $2.76 earnings per share. As a group, sell-side analysts anticipate that Shell plc will post 8.16 earnings per share for the current fiscal year.

Shell Announces Dividend

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

Analysts Set New Price Targets

Separately, TheStreet upgraded shares of Shell from a “c” rating to a “b-” rating in a research 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.