Independent Advisor Alliance Has $1.08 Million Position in Shell plc (NYSE:SHEL)

Independent Advisor Alliance trimmed its holdings in Shell plc (NYSE:SHEL) by 4.8% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 16,355 shares of the energy company’s stock after selling 827 shares during the quarter. Independent Advisor Alliance’s holdings in Shell were worth $1,079,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in SHEL. Hobbs Group Advisors LLC acquired a new position in shares of Shell during the second quarter worth approximately $26,000. Fortitude Family Office LLC acquired a new position in Shell during the 3rd quarter worth $30,000. Triad Wealth Partners LLC bought a new position in Shell in the 2nd quarter valued at $31,000. Fairscale Capital LLC bought a new stake in shares of Shell during the second quarter worth $33,000. Finally, Valley Wealth Managers Inc. acquired a new position in shares of Shell during the third quarter valued at $33,000. Institutional investors own 28.60% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on SHEL shares. Sanford C. Bernstein raised Shell to a “strong-buy” rating in a report on Friday, October 11th. Barclays upgraded shares of Shell to a “strong-buy” rating in a report on Wednesday, October 2nd. Wells Fargo & Company upped their target price 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. Berenberg Bank upgraded Shell to a “strong-buy” rating in a research report on Monday, August 5th. Finally, Citigroup upgraded Shell to a “hold” rating in a report on Wednesday, October 2nd. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, Shell presently has an average rating of “Buy” and a consensus target price of $82.00.

Shell Stock Performance

SHEL stock opened at $64.79 on Wednesday. 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 price is $67.19 and its two-hundred day moving average price is $69.84. The firm has a market cap of $200.54 billion, a PE ratio of 13.33, a P/E/G ratio of 1.95 and a beta of 0.56. The company has a current ratio of 1.40, a quick ratio of 1.13 and a debt-to-equity ratio of 0.34.

Shell Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, November 15th will be paid 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 yield of 4.25%. Shell’s payout ratio is 56.58%.

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.