MAI Capital Management trimmed its holdings in Shell plc (NYSE:SHEL - Free Report) by 38.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,921 shares of the energy company's stock after selling 10,017 shares during the period. MAI Capital Management's holdings in Shell were worth $1,050,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Shell during the 1st quarter worth $952,000. CreativeOne Wealth LLC increased its holdings in Shell by 19.4% in the 1st quarter. CreativeOne Wealth LLC now owns 8,378 shares of the energy company's stock worth $561,000 after purchasing an additional 1,361 shares in the last quarter. EP Wealth Advisors LLC increased its holdings in Shell by 25.1% in the 1st quarter. EP Wealth Advisors LLC now owns 14,940 shares of the energy company's stock worth $1,002,000 after purchasing an additional 2,994 shares in the last quarter. Advisors Asset Management Inc. increased its holdings in Shell by 2.1% in the 1st quarter. Advisors Asset Management Inc. now owns 45,429 shares of the energy company's stock worth $3,046,000 after purchasing an additional 944 shares in the last quarter. Finally, Gamco Investors INC. ET AL increased its holdings in Shell by 2.7% in the 1st quarter. Gamco Investors INC. ET AL now owns 9,652 shares of the energy company's stock worth $647,000 after purchasing an additional 258 shares in the last quarter. 28.60% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several equities research analysts recently commented on SHEL shares. Wells Fargo & Company upped their target price on Shell from $84.00 to $88.00 and gave the company an "overweight" rating in a research report on Tuesday, October 8th. Sanford C. Bernstein raised Shell to a "strong-buy" rating in a research report on Friday, October 11th. Royal Bank of Canada raised Shell to a "moderate buy" rating in a research report on Tuesday, July 30th. Scotiabank decreased their price target on Shell from $90.00 to $80.00 and set a "sector outperform" rating for the company in a research report on Thursday, October 10th. Finally, Barclays raised Shell to a "strong-buy" rating in a research report on Wednesday, October 2nd. Three analysts have rated the stock with a hold rating, four have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $82.00.
Read Our Latest Analysis on Shell
Shell Stock Performance
NYSE:SHEL traded down $0.24 during trading hours on Friday, reaching $66.03. The stock had a trading volume of 3,597,573 shares, compared to its average volume of 4,221,628. Shell plc has a 12-month low of $60.34 and a 12-month high of $74.61. The stock has a 50 day simple moving average of $67.28 and a 200 day simple moving average of $69.99. 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 stock has a market cap of $204.39 billion, a P/E ratio of 13.59, a price-to-earnings-growth ratio of 1.97 and a beta of 0.56.
Shell Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, November 15th will be issued a $0.688 dividend. This represents a $2.75 dividend on an annualized basis and a dividend yield of 4.17%. The ex-dividend date is Friday, November 15th. Shell's payout ratio is currently 56.58%.
About Shell
(
Free Report)
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.
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