D.A. Davidson & CO. Trims Stock Position in Shell plc (NYSE:SHEL)

D.A. Davidson & CO. reduced its stake in shares of Shell plc (NYSE:SHEL) by 2.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 169,509 shares of the energy company’s stock after selling 4,397 shares during the quarter. D.A. Davidson & CO.’s holdings in Shell were worth $11,179,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SHEL. First Horizon Advisors Inc. boosted its position in shares of Shell by 1.3% in the 2nd quarter. First Horizon Advisors Inc. now owns 11,097 shares of the energy company’s stock valued at $801,000 after purchasing an additional 142 shares during the period. Lester Murray Antman dba SimplyRich grew its position in shares of Shell by 0.6% during the second quarter. Lester Murray Antman dba SimplyRich now owns 26,901 shares of the energy company’s stock worth $1,941,000 after acquiring an additional 158 shares during the last quarter. Procyon Advisors LLC increased its holdings in shares of Shell by 3.2% in the 3rd quarter. Procyon Advisors LLC now owns 5,074 shares of the energy company’s stock valued at $335,000 after acquiring an additional 159 shares during the period. Sax Wealth Advisors LLC boosted its stake in Shell by 4.1% during the 2nd quarter. Sax Wealth Advisors LLC now owns 4,086 shares of the energy company’s stock worth $295,000 after purchasing an additional 162 shares during the period. Finally, GHP Investment Advisors Inc. grew its position in Shell by 40.8% during the 3rd quarter. GHP Investment Advisors Inc. now owns 563 shares of the energy company’s stock worth $37,000 after purchasing an additional 163 shares during the last quarter. 28.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on SHEL. Citigroup raised Shell to a “hold” rating in a report on Wednesday, October 2nd. Wells Fargo & Company boosted their price target on shares of Shell from $84.00 to $88.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Barclays upgraded shares of Shell to a “strong-buy” rating in a research report on Wednesday, October 2nd. Royal Bank of Canada raised Shell to a “moderate buy” rating in a research note on Tuesday, July 30th. Finally, Scotiabank cut their price objective on Shell from $90.00 to $80.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Three research analysts have rated the stock with a hold rating, four have given a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $82.00.

Shell Price Performance

Shares of NYSE SHEL opened at $64.79 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. Shell plc has a 52 week low of $60.34 and a 52 week high of $74.61. The stock has a market cap of $200.54 billion, a price-to-earnings ratio of 13.33, a PEG ratio of 1.95 and a beta of 0.56. The company’s 50-day moving average price is $67.19 and its 200 day moving average price is $69.84.

Shell Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, November 15th will be given a $0.688 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.75 annualized dividend and a dividend yield of 4.25%. Shell’s dividend payout ratio is currently 56.58%.

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.