Soltis Investment Advisors LLC Reduces Stock Position in Shell plc (NYSE:SHEL)

Soltis Investment Advisors LLC reduced its stake in Shell plc (NYSE:SHEL - Free Report) by 94.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,722 shares of the energy company's stock after selling 58,839 shares during the period. Soltis Investment Advisors LLC's holdings in Shell were worth $245,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Hobbs Group Advisors LLC bought a new stake in shares of Shell in the 2nd quarter worth $26,000. Fortitude Family Office LLC purchased a new position in Shell in the 3rd quarter worth about $30,000. Triad Wealth Partners LLC bought a new position in Shell during the 2nd quarter valued at about $31,000. Fairscale Capital LLC purchased a new stake in shares of Shell during the 2nd quarter valued at about $33,000. Finally, Valley Wealth Managers Inc. purchased a new position in shares of Shell during the third quarter valued at approximately $33,000. Hedge funds and other institutional investors own 28.60% of the company's stock.

Shell Price Performance

Shares of SHEL traded down $0.47 during mid-day trading on Friday, reaching $63.53. The stock had a trading volume of 4,470,486 shares, compared to its average volume of 4,204,738. The firm has a market cap of $196.65 billion, a price-to-earnings ratio of 13.07, a PEG ratio of 4.92 and a beta of 0.55. Shell plc has a 12 month low of $60.34 and a 12 month high of $74.61. The business has a fifty day moving average of $66.23 and a 200 day moving average of $69.13. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.13 and a current ratio of 1.40.

Shell Dividend Announcement

The business also recently disclosed 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. This represents a $2.75 annualized dividend and a dividend yield of 4.33%. The ex-dividend date is Friday, November 15th. Shell's payout ratio is currently 56.58%.

Wall Street Analyst Weigh In

A number of research firms have commented on SHEL. Barclays raised shares of Shell to a "strong-buy" rating in a research report on Wednesday, October 2nd. Citigroup raised Shell to a "hold" rating in a report on Wednesday, October 2nd. Wells Fargo & Company cut their price target on Shell from $88.00 to $87.00 and set an "overweight" rating for the company in a research note on Monday. Sanford C. Bernstein raised shares of Shell to a "strong-buy" rating in a report on Friday, October 11th. Finally, Scotiabank reduced their target price on shares of Shell from $90.00 to $80.00 and set a "sector outperform" rating for the company in a report on Thursday, October 10th. Three research 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. According to data from MarketBeat, the company has an average rating of "Buy" and an average price target of $81.75.

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.