Nicola Wealth Management LTD. Sells 60,000 Shares of Shell plc (NYSE:SHEL)

Nicola Wealth Management LTD. reduced its stake in shares of Shell plc (NYSE:SHEL - Free Report) by 18.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 260,000 shares of the energy company's stock after selling 60,000 shares during the quarter. Shell accounts for approximately 1.6% of Nicola Wealth Management LTD.'s holdings, making the stock its 27th biggest position. Nicola Wealth Management LTD.'s holdings in Shell were worth $17,147,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Hobbs Group Advisors LLC acquired a new position in shares of Shell in the 2nd quarter valued at $26,000. Fortitude Family Office LLC acquired a new stake in shares of Shell during the 3rd quarter worth about $30,000. Triad Wealth Partners LLC acquired a new stake in shares of Shell during the 2nd quarter worth about $31,000. Fairscale Capital LLC acquired a new stake in shares of Shell during the 2nd quarter worth about $33,000. Finally, GHP Investment Advisors Inc. increased its position in shares of Shell by 40.8% during the 3rd quarter. GHP Investment Advisors Inc. now owns 563 shares of the energy company's stock worth $37,000 after purchasing an additional 163 shares in the last quarter. 28.60% of the stock is currently owned by institutional investors and hedge funds.

Shell Price Performance

SHEL stock traded up $0.31 during midday trading on Thursday, reaching $65.79. The company had a trading volume of 5,340,841 shares, compared to its average volume of 4,241,510. The company has a market capitalization of $204.75 billion, a price-to-earnings ratio of 13.54, a price-to-earnings-growth ratio of 1.98 and a beta of 0.56. The stock has a 50 day moving average price of $67.41 and a 200-day moving average price of $70.23. Shell plc has a 1-year low of $60.34 and a 1-year high of $74.61. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.40 and a quick ratio of 1.13.

Shell Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.688 per share. This represents a $2.75 annualized dividend and a yield of 4.18%. The ex-dividend date is Friday, November 15th. Shell's payout ratio is 56.58%.

Analysts Set New Price Targets

SHEL has been the topic of a number of research analyst reports. Wolfe Research started coverage on shares of Shell in a report on Thursday, July 18th. They set a "peer perform" rating on the stock. Scotiabank reduced their target price on shares of Shell from $90.00 to $80.00 and set a "sector outperform" rating on the stock in a research note on Thursday, October 10th. Wells Fargo & Company increased their price target on shares of 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 upgraded shares of Shell to a "strong-buy" rating in a research report on Friday, October 11th. Finally, Citigroup upgraded shares of Shell to a "hold" rating in a research report on Wednesday, October 2nd. Three investment analysts have rated the stock with a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $82.00.

About Shell

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.