Beaird Harris Wealth Management LLC Trims Stock Position in Shell plc (NYSE:SHEL)

Beaird Harris Wealth Management LLC reduced its stake in shares of Shell plc (NYSE:SHEL) by 44.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 394 shares of the energy company’s stock after selling 321 shares during the quarter. Beaird Harris Wealth Management LLC’s holdings in Shell were worth $26,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. FMR LLC boosted its position 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 valued at $4,306,465,000 after purchasing an additional 3,255,347 shares during the period. Fisher Asset Management LLC boosted its holdings in shares of Shell by 2.1% in the third quarter. Fisher Asset Management LLC now owns 24,530,647 shares of the energy company’s stock valued at $1,617,796,000 after acquiring an additional 507,311 shares during the period. Dimensional Fund Advisors LP increased 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 valued at $1,640,082,000 after acquiring an additional 96,549 shares during the period. Franklin Resources Inc. raised its position in Shell by 0.9% in the 3rd quarter. Franklin Resources Inc. now owns 5,972,945 shares of the energy company’s stock valued at $408,430,000 after purchasing an additional 55,637 shares during the last quarter. Finally, Mawer Investment Management Ltd. grew its position in Shell by 8.7% during the 3rd quarter. Mawer Investment Management Ltd. now owns 5,282,868 shares of the energy company’s stock worth $348,405,000 after purchasing an additional 422,329 shares during the last quarter. Institutional investors and hedge funds own 28.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on SHEL. Citigroup upgraded shares of Shell to a “hold” rating in a research note on Wednesday, October 2nd. Wells Fargo & Company lowered their target price on Shell from $88.00 to $87.00 and set an “overweight” rating on the stock in a research note on Monday, December 9th. Scotiabank decreased their price target on Shell from $90.00 to $80.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Barclays raised shares of Shell to a “strong-buy” rating in a research note on Wednesday, October 2nd. Finally, Sanford C. Bernstein raised shares of Shell to a “strong-buy” rating in a report on Friday, October 11th. Two 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.com, the stock presently has an average rating of “Buy” and an average target price of $81.75.

Shell Stock Performance

NYSE:SHEL opened at $63.53 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.40 and a debt-to-equity ratio of 0.34. Shell plc has a fifty-two week low of $60.34 and a fifty-two week high of $74.61. The firm’s fifty day simple moving average is $66.23 and its 200-day simple moving average is $69.13. The stock has a market cap of $196.65 billion, a PE ratio of 13.07, a price-to-earnings-growth ratio of 4.92 and a beta of 0.55.

Shell Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, November 15th will be given a dividend of $0.688 per share. The ex-dividend date is Friday, November 15th. This represents a $2.75 dividend on an annualized basis and a dividend yield of 4.33%. Shell’s payout ratio is 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.