Shell plc (NYSE:SHEL) Shares Sold by MAI Capital Management

MAI Capital Management decreased its position in Shell plc (NYSE:SHEL) by 38.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 15,921 shares of the energy company’s stock after selling 10,017 shares during the quarter. MAI Capital Management’s holdings in Shell were worth $1,050,000 as of its most recent filing with the Securities and Exchange Commission.

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

Shell Price Performance

SHEL opened at $66.30 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.40 and a debt-to-equity ratio of 0.34. The company’s 50-day moving average price is $67.29 and its 200 day moving average price is $70.01. Shell plc has a fifty-two week low of $60.34 and a fifty-two week high of $74.61. The firm has a market cap of $205.21 billion, a price-to-earnings ratio of 13.61, a price-to-earnings-growth ratio of 1.97 and a beta of 0.56.

Shell Dividend Announcement

The business also recently disclosed 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. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.75 dividend on an annualized basis and a yield of 4.15%. Shell’s payout ratio is currently 56.58%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on SHEL. Wells Fargo & Company lifted their price objective on shares of Shell from $84.00 to $88.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Barclays raised Shell to a “strong-buy” rating in a research report on Wednesday, October 2nd. Scotiabank dropped their price objective on Shell from $90.00 to $80.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Royal Bank of Canada upgraded shares of Shell to a “moderate buy” rating in a research note on Tuesday, July 30th. Finally, Citigroup raised shares of Shell to a “hold” rating in a report on Wednesday, October 2nd. Three equities research 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 company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average 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.