Assetmark Inc. Sells 20,445 Shares of Shell plc (NYSE:SHEL)

Assetmark Inc. trimmed its stake in Shell plc (NYSE:SHEL - Free Report) by 29.2% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 49,580 shares of the energy company's stock after selling 20,445 shares during the period. Assetmark Inc.'s holdings in Shell were worth $3,270,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. First Horizon Advisors Inc. raised its stake in shares of Shell by 1.3% in the 2nd quarter. First Horizon Advisors Inc. now owns 11,097 shares of the energy company's stock valued at $801,000 after acquiring an additional 142 shares in the last quarter. Lester Murray Antman dba SimplyRich increased its position in Shell by 0.6% in the 2nd quarter. Lester Murray Antman dba SimplyRich now owns 26,901 shares of the energy company's stock worth $1,941,000 after buying an additional 158 shares during the period. Procyon Advisors LLC increased its position in Shell by 3.2% in the 3rd quarter. Procyon Advisors LLC now owns 5,074 shares of the energy company's stock worth $335,000 after buying an additional 159 shares during the period. Sax Wealth Advisors LLC increased its position in Shell by 4.1% in the 2nd quarter. Sax Wealth Advisors LLC now owns 4,086 shares of the energy company's stock worth $295,000 after buying an additional 162 shares during the period. Finally, GHP Investment Advisors Inc. increased its position in Shell by 40.8% in the 3rd quarter. GHP Investment Advisors Inc. now owns 563 shares of the energy company's stock worth $37,000 after buying an additional 163 shares during the period. 28.60% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have commented on SHEL shares. Sanford C. Bernstein raised Shell to a "strong-buy" rating in a research report on Friday, October 11th. Berenberg Bank raised Shell to a "strong-buy" rating in a report on Monday, August 5th. Barclays raised Shell to a "strong-buy" rating in a report on Wednesday, October 2nd. Royal Bank of Canada raised Shell to a "moderate buy" rating in a report on Tuesday, July 30th. Finally, Scotiabank decreased their price objective on Shell from $90.00 to $80.00 and set a "sector outperform" rating on the stock in a report on Thursday, October 10th. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $82.00.

Shell Price Performance

Shell stock traded down $0.09 on Wednesday, reaching $65.48. The company's stock had a trading volume of 5,788,593 shares, compared to its average volume of 4,235,698. The company has a market cap of $203.78 billion, a price-to-earnings ratio of 13.34, a PEG ratio of 1.98 and a beta of 0.56. Shell plc has a twelve month low of $60.34 and a twelve month high of $74.61. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.13 and a current ratio of 1.40. The business's fifty day moving average price is $67.47 and its 200 day moving average price is $70.27.

Shell Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, November 15th will be given a dividend of $0.688 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.75 dividend on an annualized basis and a dividend yield of 4.20%. Shell's payout ratio is currently 56.58%.

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.