Shell plc (NYSE:SHEL) Position Trimmed by Sigma Planning Corp

Sigma Planning Corp reduced its stake in shares of Shell plc (NYSE:SHEL) by 4.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 10,367 shares of the energy company’s stock after selling 523 shares during the quarter. Sigma Planning Corp’s holdings in Shell were worth $684,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Empyrean Capital Partners LP purchased a new position in shares of Shell during the 2nd quarter valued at $151,578,000. Price T Rowe Associates Inc. MD grew its stake in Shell by 13.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,715,078 shares of the energy company’s stock valued at $450,180,000 after purchasing an additional 772,736 shares in the last quarter. Raymond James & Associates raised its stake in shares of Shell by 65.7% during the 2nd quarter. Raymond James & Associates now owns 1,698,247 shares of the energy company’s stock worth $122,579,000 after purchasing an additional 673,624 shares in the last quarter. Senator Investment Group LP acquired a new stake in shares of Shell during the 1st quarter valued at about $42,775,000. Finally, Mediolanum International Funds Ltd acquired a new position in Shell in the third quarter worth approximately $37,274,000. 28.60% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on SHEL. Sanford C. Bernstein raised shares of Shell to a “strong-buy” rating in a research report on Friday, October 11th. Citigroup raised shares of Shell to a “hold” rating in a research report on Wednesday, October 2nd. Wells Fargo & Company boosted their price target on Shell from $84.00 to $88.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Royal Bank of Canada raised Shell to a “moderate buy” rating in a research note on Tuesday, July 30th. Finally, Berenberg Bank upgraded 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 given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, Shell presently has an average rating of “Buy” and an average price target of $82.00.

Shell Stock Up 0.5 %

Shares of SHEL stock opened at $65.79 on Friday. The stock has a 50 day moving average of $67.41 and a 200-day moving average of $70.23. The firm has a market cap of $204.75 billion, a PE ratio of 13.54, a price-to-earnings-growth ratio of 1.98 and a beta of 0.56. The company has a quick ratio of 1.13, a current ratio of 1.40 and a debt-to-equity ratio of 0.34. Shell plc has a 12 month low of $60.34 and a 12 month high of $74.61.

Shell Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, November 15th will be given a $0.688 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.75 annualized dividend and a yield of 4.18%. Shell’s dividend 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.