Sumitomo Mitsui Trust Group Inc. Cuts Stock Holdings in Shell plc (NYSE:SHEL)

Sumitomo Mitsui Trust Group Inc. reduced its stake in shares of Shell plc (NYSE:SHEL - Free Report) by 12.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 89,596 shares of the energy company's stock after selling 13,213 shares during the quarter. Sumitomo Mitsui Trust Group Inc.'s holdings in Shell were worth $5,909,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in SHEL. Hobbs Group Advisors LLC purchased a new stake in shares of Shell in the 2nd quarter worth approximately $26,000. Fortitude Family Office LLC purchased a new stake in shares of Shell in the third quarter worth $30,000. Triad Wealth Partners LLC bought a new position in shares of Shell during the second quarter valued at $31,000. Fairscale Capital LLC bought a new position in Shell in the 2nd quarter worth about $33,000. Finally, GHP Investment Advisors Inc. grew its position in Shell by 40.8% during the 3rd quarter. GHP Investment Advisors Inc. now owns 563 shares of the energy company's stock valued at $37,000 after purchasing an additional 163 shares during the last quarter. Institutional investors own 28.60% of the company's stock.

Wall Street Analyst Weigh In

SHEL has been the topic of several analyst reports. Scotiabank dropped 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. Sanford C. Bernstein upgraded shares of Shell to a "strong-buy" rating in a research note on Friday, October 11th. Wells Fargo & Company increased their price objective 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. Citigroup raised Shell to a "hold" rating in a report on Wednesday, October 2nd. Finally, Berenberg Bank raised Shell to a "strong-buy" rating in a report on Monday, August 5th. Three equities 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.com, the company presently has an average rating of "Buy" and an average target price of $82.00.

Shell Stock Performance

NYSE SHEL traded down $0.51 on Tuesday, reaching $65.81. 2,425,839 shares of the stock were exchanged, compared to its average volume of 4,230,145. The firm has a market capitalization of $203.71 billion, a PE ratio of 13.54, a PEG ratio of 1.96 and a beta of 0.56. Shell plc has a one year low of $60.34 and a one year high of $74.61. The company's 50-day simple moving average is $67.33 and its two-hundred day simple moving average is $70.13. The company has a current ratio of 1.40, a quick ratio of 1.13 and a debt-to-equity ratio of 0.34.

Shell Announces Dividend

The firm 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 $0.688 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.75 annualized dividend and a dividend yield of 4.18%. Shell's payout ratio is 56.58%.

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.