Janney Montgomery Scott LLC Cuts Position in Shell plc (NYSE:SHEL)

Janney Montgomery Scott LLC lowered its position in shares of Shell plc (NYSE:SHEL) by 2.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 141,114 shares of the energy company’s stock after selling 3,298 shares during the period. Janney Montgomery Scott LLC’s holdings in Shell were worth $9,307,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. NorthCrest Asset Manangement LLC grew its position in Shell by 6.4% during the third quarter. NorthCrest Asset Manangement LLC now owns 3,741 shares of the energy company’s stock valued at $247,000 after acquiring an additional 225 shares during the last quarter. Lazard Asset Management LLC raised its position in Shell by 21.0% in the 1st quarter. Lazard Asset Management LLC now owns 44,896 shares of the energy company’s stock worth $3,009,000 after purchasing an additional 7,779 shares during the period. Creative Planning boosted its position in Shell by 11.3% during the second quarter. Creative Planning now owns 292,587 shares of the energy company’s stock valued at $21,119,000 after buying an additional 29,677 shares during the period. Raymond James & Associates grew its stake in shares of Shell by 65.7% during the second quarter. Raymond James & Associates now owns 1,698,247 shares of the energy company’s stock valued at $122,579,000 after buying an additional 673,624 shares during the last quarter. Finally, Foresight Global Investors Inc. bought a new stake in shares of Shell in the 2nd quarter valued at about $1,472,000. 28.60% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on the company. Berenberg Bank upgraded Shell to a “strong-buy” rating in a research report on Monday, August 5th. Scotiabank dropped their price target on shares of Shell from $90.00 to $80.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Royal Bank of Canada raised shares of Shell to a “moderate buy” rating in a research note on Tuesday, July 30th. Citigroup raised Shell to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Barclays raised Shell to a “strong-buy” rating in a research report on Wednesday, October 2nd. Three analysts have rated the stock with a hold rating, four have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $82.00.

Shell Stock Up 0.4 %

Shares of NYSE:SHEL opened at $68.62 on Friday. 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 plc has a 52-week low of $60.34 and a 52-week high of $74.61. The firm has a market capitalization of $213.55 billion, a P/E ratio of 14.12, a P/E/G ratio of 2.04 and a beta of 0.56. The stock has a 50 day moving average price of $67.73 and a 200-day moving average price of $70.44.

Shell Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, November 15th will be paid a $0.688 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.75 annualized dividend and a dividend yield of 4.01%. 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.