SCP Investment LP Reduces Position in Shell plc (NYSE:SHEL)

SCP Investment LP reduced its stake in Shell plc (NYSE:SHEL) by 20.5% during the third quarter, Holdings Channel.com reports. The firm owned 22,900 shares of the energy company’s stock after selling 5,900 shares during the quarter. Shell accounts for approximately 1.1% of SCP Investment LP’s holdings, making the stock its 11th largest position. SCP Investment LP’s holdings in Shell were worth $1,510,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of SHEL. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Shell by 60.9% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,482 shares of the energy company’s stock valued at $889,000 after purchasing an additional 5,104 shares during the period. Howe & Rusling Inc. raised its holdings in Shell by 42.9% during the third quarter. Howe & Rusling Inc. now owns 24,479 shares of the energy company’s stock valued at $1,614,000 after acquiring an additional 7,345 shares during the period. Jennison Associates LLC lifted its position in shares of Shell by 188.0% in the third quarter. Jennison Associates LLC now owns 3,014,199 shares of the energy company’s stock valued at $198,786,000 after acquiring an additional 1,967,672 shares in the last quarter. Segall Bryant & Hamill LLC purchased a new stake in shares of Shell during the third quarter worth about $4,695,000. Finally, West Family Investments Inc. raised its stake in Shell by 4.4% during the 3rd quarter. West Family Investments Inc. now owns 20,139 shares of the energy company’s stock valued at $1,328,000 after purchasing an additional 858 shares during the period. Institutional investors own 28.60% of the company’s stock.

Shell Trading Down 0.8 %

Shares of NYSE SHEL opened at $65.78 on Wednesday. The stock has a market capitalization of $203.62 billion, a P/E ratio of 13.53, a PEG ratio of 1.96 and a beta of 0.56. Shell plc has a 1-year low of $60.34 and a 1-year high of $74.61. The business’s 50 day moving average is $67.31 and its two-hundred day moving average is $70.09. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.40 and a quick ratio of 1.13.

Shell Dividend Announcement

The company also recently disclosed 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 annualized dividend and a yield of 4.18%. The ex-dividend date is Friday, November 15th. Shell’s payout ratio is 56.58%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on SHEL shares. Wells Fargo & Company increased their price objective on shares of Shell from $84.00 to $88.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Berenberg Bank upgraded shares of Shell to a “strong-buy” rating in a report on Monday, August 5th. Citigroup raised shares of Shell to a “hold” rating in a report on Wednesday, October 2nd. Sanford C. Bernstein upgraded Shell to a “strong-buy” rating in a research report on Friday, October 11th. Finally, Barclays upgraded Shell to a “strong-buy” rating in a report on Wednesday, October 2nd. 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 company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $82.00.

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.