International Assets Investment Management LLC Trims Stock Holdings in Shell plc (NYSE:SHEL)

International Assets Investment Management LLC cut its stake in shares of Shell plc (NYSE:SHEL - Free Report) by 98.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,540 shares of the energy company's stock after selling 347,109 shares during the period. International Assets Investment Management LLC's holdings in Shell were worth $350,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. NorthCrest Asset Manangement LLC lifted its stake in Shell by 6.4% in the 3rd quarter. NorthCrest Asset Manangement LLC now owns 3,741 shares of the energy company's stock worth $247,000 after purchasing an additional 225 shares in the last quarter. Foresight Global Investors Inc. purchased a new stake in shares of Shell in the second quarter worth $1,472,000. Rockefeller Capital Management L.P. grew its position in Shell by 1.5% during the third quarter. Rockefeller Capital Management L.P. now owns 3,125,284 shares of the energy company's stock worth $206,116,000 after buying an additional 46,293 shares in the last quarter. Creative Planning raised its holdings in shares of Shell by 11.3% in the 2nd quarter. Creative Planning now owns 292,587 shares of the energy company's stock valued at $21,119,000 after acquiring an additional 29,677 shares in the last quarter. Finally, Mawer Investment Management Ltd. grew its holdings in shares of Shell by 8.7% during the third quarter. Mawer Investment Management Ltd. now owns 5,282,868 shares of the energy company's stock worth $348,405,000 after purchasing an additional 422,329 shares in the last quarter. 28.60% of the stock is owned by hedge funds and other institutional investors.

Shell Trading Up 0.5 %

Shares of NYSE:SHEL traded up $0.30 during midday trading on Friday, hitting $65.02. 4,351,302 shares of the stock traded hands, compared to its average volume of 4,694,360. The company has a quick ratio of 1.13, a current ratio of 1.40 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $200.08 billion, a PE ratio of 13.38, a P/E/G ratio of 4.84 and a beta of 0.55. Shell plc has a one year low of $60.15 and a one year high of $74.61. The business's 50 day moving average is $64.38 and its two-hundred day moving average is $68.03.

Shell Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Friday, November 15th were paid a dividend of $0.688 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $2.75 annualized dividend and a dividend yield of 4.23%. Shell's dividend payout ratio (DPR) is presently 56.58%.

Analyst Ratings Changes

A number of equities analysts have commented on SHEL shares. Wells Fargo & Company cut their price target on shares of Shell from $87.00 to $86.00 and set an "overweight" rating for the company in a research note on Friday. Morgan Stanley raised Shell from an "equal weight" rating to an "overweight" rating and increased their target price for the company from $66.50 to $79.80 in a research note on Tuesday, January 7th. Scotiabank cut their price objective on Shell from $90.00 to $80.00 and set a "sector outperform" rating for the company in a report on Thursday, October 10th. Citigroup raised Shell to a "hold" rating in a report on Wednesday, October 2nd. Finally, Piper Sandler reduced their price target on shares of Shell from $82.00 to $72.00 and set an "overweight" rating on the stock in a research report on Thursday, December 19th. One analyst has rated the stock with a hold rating, eight have issued a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $79.69.

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.