Advisors Asset Management Inc. Cuts Holdings in Shell plc (NYSE:SHEL)

Advisors Asset Management Inc. cut its holdings in Shell plc (NYSE:SHEL) by 1.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,469 shares of the energy company’s stock after selling 521 shares during the quarter. Advisors Asset Management Inc.’s holdings in Shell were worth $2,801,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of SHEL. Dimensional Fund Advisors LP grew its holdings in shares of Shell by 0.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 22,722,317 shares of the energy company’s stock worth $1,640,082,000 after acquiring an additional 96,549 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of 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 buying an additional 772,736 shares during the last quarter. Mawer Investment Management Ltd. boosted its position in shares of Shell by 8.7% in the 3rd quarter. Mawer Investment Management Ltd. now owns 5,282,868 shares of the energy company’s stock worth $348,405,000 after buying an additional 422,329 shares in the last quarter. Jennison Associates LLC grew its stake 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 acquiring an additional 1,967,672 shares during the last quarter. Finally, Westwood Global Investments LLC raised its position in Shell by 4.1% during the second quarter. Westwood Global Investments LLC now owns 2,546,523 shares of the energy company’s stock worth $183,808,000 after acquiring an additional 100,379 shares during the last quarter. Hedge funds and other institutional investors own 28.60% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on SHEL. 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 report on Wednesday, October 2nd. Barclays raised Shell to a “strong-buy” rating in a research note on Wednesday, October 2nd. Berenberg Bank upgraded shares of Shell to a “strong-buy” rating in a report on Monday, August 5th. Finally, Sanford C. Bernstein upgraded shares of Shell to a “strong-buy” rating in a report on Friday, October 11th. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $82.00.

Shell Stock Down 0.4 %

Shares of SHEL opened at $66.03 on Friday. The firm has a market cap of $204.39 billion, a PE ratio of 13.59, a price-to-earnings-growth ratio of 1.99 and a beta of 0.56. 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 fifty day moving average is $67.25 and its two-hundred day moving average is $69.94. Shell plc has a fifty-two week low of $60.34 and a fifty-two week high of $74.61.

Shell Dividend Announcement

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

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.