Shell plc (NYSE:SHEL) Shares Sold by Woodmont Investment Counsel LLC

Woodmont Investment Counsel LLC reduced its holdings in shares of Shell plc (NYSE:SHEL) by 12.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,638 shares of the energy company’s stock after selling 1,120 shares during the quarter. Woodmont Investment Counsel LLC’s holdings in Shell were worth $504,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the business. Empyrean Capital Partners LP acquired a new position in Shell in the second quarter valued at $151,578,000. Mondrian Investment Partners LTD grew its stake in Shell by 83.2% during the 1st quarter. Mondrian Investment Partners LTD now owns 2,187,872 shares of the energy company’s stock worth $146,675,000 after buying an additional 993,342 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Shell by 13.0% during the first 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 period. Raymond James & Associates boosted its holdings in shares of Shell by 65.7% in the second quarter. Raymond James & Associates now owns 1,698,247 shares of the energy company’s stock valued at $122,579,000 after acquiring an additional 673,624 shares during the period. Finally, Senator Investment Group LP purchased a new position in shares of Shell during the first quarter worth approximately $42,775,000. Hedge funds and other institutional investors own 28.60% of the company’s stock.

Analyst Upgrades and Downgrades

SHEL has been the subject of a number of recent research reports. Citigroup upgraded shares of Shell to a “hold” rating in a research note on Wednesday, October 2nd. Scotiabank dropped their price target on Shell from $90.00 to $80.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Royal Bank of Canada raised Shell to a “moderate buy” rating in a research report on Tuesday, July 30th. Sanford C. Bernstein raised Shell to a “strong-buy” rating in a report 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 equities research analysts have rated the stock with a hold rating, four have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, Shell currently has a consensus rating of “Buy” and a consensus target price of $82.00.

Shell Price Performance

Shell stock opened at $68.62 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.13 and a current ratio of 1.40. Shell plc has a one year low of $60.34 and a one year high of $74.61. The company has a market cap of $213.55 billion, a P/E ratio of 14.12, a price-to-earnings-growth ratio of 2.04 and a beta of 0.56. The business has a fifty day moving average of $67.73 and a two-hundred day moving average of $70.44.

Shell Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders 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 annualized dividend and a yield of 4.01%. Shell’s payout ratio is currently 56.58%.

Shell 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.