Oppenheimer & Co. Inc. Lowers Holdings in Shell plc (NYSE:SHEL)

Oppenheimer & Co. Inc. lowered its stake in shares of Shell plc (NYSE:SHEL) by 5.7% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 56,560 shares of the energy company’s stock after selling 3,446 shares during the period. Oppenheimer & Co. Inc.’s holdings in Shell were worth $3,730,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of SHEL. Empyrean Capital Partners LP acquired a new stake in Shell during the second quarter valued at $151,578,000. Price T Rowe Associates Inc. MD increased its stake in shares of Shell by 13.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,715,078 shares of the energy company’s stock valued at $450,180,000 after purchasing an additional 772,736 shares in the last quarter. Raymond James & Associates raised its holdings in Shell by 65.7% in the 2nd 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 period. Senator Investment Group LP purchased a new stake in shares of Shell in the first quarter valued at approximately $42,775,000. Finally, Mediolanum International Funds Ltd acquired a new position in shares of Shell during the 3rd quarter worth approximately $37,274,000. Hedge funds and other institutional investors own 28.60% of the company’s stock.

Shell Stock Up 0.6 %

Shares of SHEL opened at $65.48 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 52-week low of $60.34 and a 52-week high of $74.61. The stock has a fifty day simple moving average of $67.33 and a two-hundred day simple moving average of $70.15. The company has a market capitalization of $203.78 billion, a PE ratio of 13.47, a price-to-earnings-growth ratio of 1.97 and a beta of 0.56.

Shell Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, November 15th will be paid a $0.688 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.75 annualized dividend and a dividend yield of 4.20%. Shell’s dividend payout ratio (DPR) is 56.58%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Berenberg Bank raised shares of Shell to a “strong-buy” rating in a report on Monday, August 5th. Royal Bank of Canada upgraded shares of Shell to a “moderate buy” rating in a research report on Tuesday, July 30th. Sanford C. Bernstein upgraded Shell to a “strong-buy” rating in a report on Friday, October 11th. Citigroup upgraded Shell to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Barclays upgraded Shell to a “strong-buy” rating in a research report on Wednesday, October 2nd. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $82.00.

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.