Shell plc (NYSE:SHEL) Shares Sold by Advisors Asset Management Inc.

Advisors Asset Management Inc. lessened its stake in shares of Shell plc (NYSE:SHEL) by 1.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 42,469 shares of the energy company’s stock after selling 521 shares during the quarter. Advisors Asset Management Inc.’s holdings in Shell were worth $2,801,000 at the end of the most recent quarter.

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

Shell Stock Down 0.4 %

Shares of NYSE:SHEL opened at $66.03 on Friday. Shell plc has a 1-year low of $60.34 and a 1-year high of $74.61. The company’s fifty day moving average is $67.25 and its two-hundred day moving average is $69.94. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.13 and a current ratio of 1.40. The stock has a market capitalization of $204.39 billion, a price-to-earnings ratio of 13.59, a price-to-earnings-growth ratio of 1.99 and a beta of 0.56.

Shell Announces Dividend

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 paid a $0.688 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.75 dividend on an annualized basis and a yield of 4.17%. Shell’s payout ratio is currently 56.58%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on SHEL shares. Barclays raised Shell to a “strong-buy” rating in a report on Wednesday, October 2nd. Sanford C. Bernstein upgraded shares of Shell to a “strong-buy” rating in a research note on Friday, October 11th. Royal Bank of Canada upgraded shares of Shell to a “moderate buy” rating in a research note on Tuesday, July 30th. Scotiabank dropped their target price on shares of Shell from $90.00 to $80.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Finally, Wells Fargo & Company increased their price target on shares of Shell from $84.00 to $88.00 and gave the stock 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 given a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Shell has an average rating of “Buy” and a consensus target price of $82.00.

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.