Shell plc (NYSE:SHEL) Shares Sold by State Street Corp

State Street Corp lowered its stake in shares of Shell plc (NYSE:SHEL) by 1.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,462 shares of the energy company’s stock after selling 422 shares during the period. State Street Corp’s holdings in Shell were worth $2,009,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Fortitude Family Office LLC purchased a new stake in Shell during the third quarter valued at about $30,000. Fairscale Capital LLC acquired a new stake in Shell during the 2nd quarter worth approximately $33,000. Valley Wealth Managers Inc. purchased a new position in Shell in the third quarter valued at approximately $33,000. Brooklyn Investment Group purchased a new stake in Shell during the third quarter worth approximately $35,000. Finally, GHP Investment Advisors Inc. increased its position in shares of Shell by 40.8% in the third quarter. GHP Investment Advisors Inc. now owns 563 shares of the energy company’s stock worth $37,000 after acquiring an additional 163 shares in the last quarter. 28.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Barclays raised shares of Shell to a “strong-buy” rating in a research report on Wednesday, October 2nd. Sanford C. Bernstein upgraded Shell to a “strong-buy” rating in a report on Friday, October 11th. Piper Sandler decreased their price target on Shell from $82.00 to $72.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Scotiabank reduced their target price 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. Finally, Wells Fargo & Company lowered their price target on shares of Shell from $88.00 to $87.00 and set an “overweight” rating for the company in a report on Monday, December 9th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, Shell has a consensus rating of “Buy” and an average price target of $79.80.

Shell Trading Up 1.4 %

NYSE SHEL opened at $62.65 on Thursday. The company has a market capitalization of $192.79 billion, a price-to-earnings ratio of 12.89, a price-to-earnings-growth ratio of 4.84 and a beta of 0.55. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.40 and a quick ratio of 1.13. Shell plc has a 12 month low of $60.15 and a 12 month high of $74.61. The company’s fifty day moving average price is $64.63 and its two-hundred day moving average price is $68.30.

Shell Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Friday, November 15th were paid a $0.688 dividend. The ex-dividend date was Friday, November 15th. This represents a $2.75 dividend on an annualized basis and a yield of 4.39%. Shell’s dividend payout ratio (DPR) is 56.58%.

Shell 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.