Shell plc (NYSE:SHEL) Shares Sold by GAMMA Investing LLC

GAMMA Investing LLC decreased its holdings in shares of Shell plc (NYSE:SHEL) by 18.9% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 4,107 shares of the energy company’s stock after selling 954 shares during the quarter. GAMMA Investing LLC’s holdings in Shell were worth $257,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. FMR LLC increased its stake in shares of Shell by 5.2% in the 3rd quarter. FMR LLC now owns 65,298,943 shares of the energy company’s stock worth $4,306,465,000 after acquiring an additional 3,255,347 shares during the last quarter. Empyrean Capital Partners LP purchased a new position in Shell during the second quarter worth about $151,578,000. Jennison Associates LLC boosted its holdings in Shell by 188.0% in the 3rd quarter. Jennison Associates LLC now owns 3,014,199 shares of the energy company’s stock valued at $198,786,000 after purchasing an additional 1,967,672 shares during the last quarter. Holocene Advisors LP increased its holdings in shares of Shell by 29.8% during the 3rd quarter. Holocene Advisors LP now owns 3,773,617 shares of the energy company’s stock worth $248,870,000 after buying an additional 866,954 shares during the last quarter. Finally, Mediolanum International Funds Ltd acquired a new position in Shell in the third quarter valued at approximately $37,274,000. 28.60% of the stock is owned by hedge funds and other institutional investors.

Shell Stock Up 1.9 %

SHEL stock opened at $65.98 on Wednesday. Shell plc has a 12 month low of $60.15 and a 12 month high of $74.61. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.40 and a quick ratio of 1.13. The company has a market cap of $203.04 billion, a price-to-earnings ratio of 13.58, a price-to-earnings-growth ratio of 4.84 and a beta of 0.55. The company has a fifty day moving average price of $64.50 and a 200 day moving average price of $68.15.

Shell Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Friday, November 15th were issued a $0.688 dividend. This represents a $2.75 annualized dividend and a dividend yield of 4.17%. The ex-dividend date of this dividend was Friday, November 15th. Shell’s payout ratio is 56.58%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on SHEL shares. Piper Sandler reduced their target price on Shell from $82.00 to $72.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Citigroup raised shares of Shell to a “hold” rating in a research note on Wednesday, October 2nd. Wells Fargo & Company reduced their price target on shares of Shell from $88.00 to $87.00 and set an “overweight” rating on the stock in a research note on Monday, December 9th. Scotiabank dropped their target price on shares of Shell from $90.00 to $80.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Finally, Barclays raised shares of Shell to a “strong-buy” rating in a research report on Wednesday, October 2nd. One analyst has rated the stock with a hold rating, seven have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $79.83.

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.