Assetmark Inc. Has $3.27 Million Stake in Shell plc (NYSE:SHEL)

Assetmark Inc. trimmed its position in shares of Shell plc (NYSE:SHEL) by 29.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 49,580 shares of the energy company’s stock after selling 20,445 shares during the quarter. Assetmark Inc.’s holdings in Shell were worth $3,270,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its position in Shell by 0.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 22,722,317 shares of the energy company’s stock valued at $1,640,082,000 after acquiring an additional 96,549 shares during the period. Price T Rowe Associates Inc. MD raised its position in Shell by 13.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,715,078 shares of the energy company’s stock worth $450,180,000 after purchasing an additional 772,736 shares during the last quarter. Westwood Global Investments LLC grew its position in shares of Shell by 4.1% in the 2nd quarter. Westwood Global Investments LLC now owns 2,546,523 shares of the energy company’s stock valued at $183,808,000 after buying an additional 100,379 shares during the last quarter. Envestnet Asset Management Inc. raised its position in shares of Shell by 6.4% during the second quarter. Envestnet Asset Management Inc. now owns 2,248,366 shares of the energy company’s stock worth $162,287,000 after acquiring an additional 136,139 shares during the last quarter. Finally, Empyrean Capital Partners LP bought a new stake in Shell in the second quarter valued at approximately $151,578,000. Institutional investors and hedge funds own 28.60% of the company’s stock.

Shell Stock Performance

NYSE SHEL opened at $65.57 on Wednesday. The company has a current ratio of 1.40, a quick ratio of 1.13 and a debt-to-equity ratio of 0.34. The company has a fifty day simple moving average of $67.47 and a 200 day simple moving average of $70.27. Shell plc has a 12-month low of $60.34 and a 12-month high of $74.61. The company has a market cap of $204.06 billion, a P/E ratio of 13.49, a PEG ratio of 2.02 and a beta of 0.56.

Shell Announces Dividend

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 issued a $0.688 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.75 dividend on an annualized basis and a dividend yield of 4.20%. Shell’s dividend payout ratio is presently 56.58%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Scotiabank dropped their price target on shares of Shell from $90.00 to $80.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Citigroup upgraded Shell to a “hold” rating in a report on Wednesday, October 2nd. Berenberg Bank upgraded Shell to a “strong-buy” rating in a research report on Monday, August 5th. Wolfe Research began coverage on Shell in a research note on Thursday, July 18th. They issued a “peer perform” rating on the stock. Finally, Royal Bank of Canada raised shares of Shell to a “moderate buy” rating in a research report on Tuesday, July 30th. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $82.00.

Shell Company Profile

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.