Shell plc (NYSE:SHEL) Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. cut its stake in Shell plc (NYSE:SHEL) by 12.9% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund 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 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. First Horizon Advisors Inc. increased its stake in shares of Shell by 1.3% in the 2nd quarter. First Horizon Advisors Inc. now owns 11,097 shares of the energy company’s stock worth $801,000 after acquiring an additional 142 shares during the last quarter. Lester Murray Antman dba SimplyRich increased its position in shares of Shell by 0.6% during the 2nd quarter. Lester Murray Antman dba SimplyRich now owns 26,901 shares of the energy company’s stock worth $1,941,000 after purchasing an additional 158 shares during the last quarter. Procyon Advisors LLC increased its position in shares of Shell by 3.2% during the 3rd quarter. Procyon Advisors LLC now owns 5,074 shares of the energy company’s stock worth $335,000 after purchasing an additional 159 shares during the last quarter. Sax Wealth Advisors LLC increased its position in shares of Shell by 4.1% during the 2nd quarter. Sax Wealth Advisors LLC now owns 4,086 shares of the energy company’s stock worth $295,000 after purchasing an additional 162 shares during the last quarter. 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 during the last quarter. 28.60% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently issued reports on SHEL shares. Scotiabank cut their price objective 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. Barclays raised Shell to a “strong-buy” rating in a research report on Wednesday, October 2nd. Berenberg Bank raised Shell to a “strong-buy” rating in a research report on Monday, August 5th. Citigroup raised Shell to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Sanford C. Bernstein raised Shell to a “strong-buy” rating in a research report on Friday, October 11th. Three research analysts have rated the stock with a hold rating, four have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $82.00.

Shell Stock Performance

Shares of SHEL opened at $66.33 on Tuesday. The stock has a 50-day simple moving average of $67.33 and a 200-day simple moving average of $70.13. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.13 and a current ratio of 1.40. The stock has a market capitalization of $206.41 billion, a PE ratio of 13.69, a PEG ratio of 1.97 and a beta of 0.56. Shell plc has a 1 year low of $60.34 and a 1 year high of $74.61.

Shell Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors 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 4.15%. The ex-dividend date is Friday, November 15th. 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.