Hardy Reed LLC Reduces Position in Shell plc (NYSE:SHEL)

Hardy Reed LLC lessened its holdings in shares of Shell plc (NYSE:SHEL) by 25.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,397 shares of the energy company’s stock after selling 1,504 shares during the quarter. Hardy Reed LLC’s holdings in Shell were worth $290,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. NorthCrest Asset Manangement LLC lifted its position in shares of Shell by 6.4% during the third quarter. NorthCrest Asset Manangement LLC now owns 3,741 shares of the energy company’s stock worth $247,000 after purchasing an additional 225 shares during the last quarter. Lazard Asset Management LLC grew its position in shares of Shell by 21.0% in the 1st quarter. Lazard Asset Management LLC now owns 44,896 shares of the energy company’s stock worth $3,009,000 after acquiring an additional 7,779 shares in the last quarter. Creative Planning raised its position 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 lifted its stake in Shell by 65.7% during the second quarter. Raymond James & Associates now owns 1,698,247 shares of the energy company’s stock worth $122,579,000 after purchasing an additional 673,624 shares during the last quarter. Finally, Foresight Global Investors Inc. bought a new stake in Shell during the second quarter valued at $1,472,000. 28.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Barclays raised shares of Shell to a “strong-buy” rating in a report on Wednesday, October 2nd. Royal Bank of Canada raised Shell to a “moderate buy” rating in a report on Tuesday, July 30th. Citigroup upgraded Shell to a “hold” rating in a research report on Wednesday, October 2nd. Sanford C. Bernstein upgraded Shell to a “strong-buy” rating in a research note on Friday, October 11th. Finally, 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 report on Tuesday, October 8th. Three investment analysts have rated the stock with a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Shell currently has a consensus rating of “Buy” and a consensus target price of $82.00.

Shell Stock Down 0.4 %

SHEL stock opened at $64.79 on Wednesday. The firm’s 50-day moving average is $67.19 and its two-hundred day moving average is $69.84. The company has a current ratio of 1.40, a quick ratio of 1.13 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $200.54 billion, a price-to-earnings ratio of 13.33, a price-to-earnings-growth ratio of 1.95 and a beta of 0.56. Shell plc has a 52 week low of $60.34 and a 52 week high of $74.61.

Shell Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.688 per share. This represents a $2.75 dividend on an annualized basis and a yield of 4.25%. The ex-dividend date of this dividend is Friday, November 15th. Shell’s payout ratio is currently 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.