Recurrent Investment Advisors LLC Has $8.53 Million Holdings in Shell plc (NYSE:SHEL)

Recurrent Investment Advisors LLC lessened its holdings in shares of Shell plc (NYSE:SHEL) by 15.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 129,346 shares of the energy company’s stock after selling 23,931 shares during the quarter. Shell accounts for approximately 0.8% of Recurrent Investment Advisors LLC’s holdings, making the stock its 24th largest holding. Recurrent Investment Advisors LLC’s holdings in Shell were worth $8,530,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. NorthCrest Asset Manangement LLC increased its holdings in Shell by 6.4% during the 3rd quarter. NorthCrest Asset Manangement LLC now owns 3,741 shares of the energy company’s stock worth $247,000 after purchasing an additional 225 shares in the last quarter. Creative Planning increased its holdings in Shell by 11.3% during the 2nd quarter. Creative Planning now owns 292,587 shares of the energy company’s stock worth $21,119,000 after purchasing an additional 29,677 shares in the last quarter. Raymond James & Associates increased its holdings in Shell by 65.7% during 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 in the last quarter. Foresight Global Investors Inc. bought a new position in Shell during the 2nd quarter worth about $1,472,000. Finally, Rockefeller Capital Management L.P. increased its holdings in Shell by 1.5% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 3,125,284 shares of the energy company’s stock worth $206,116,000 after purchasing an additional 46,293 shares in the last quarter. Institutional investors own 28.60% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on SHEL shares. Barclays upgraded Shell to a “strong-buy” rating in a report on Wednesday, October 2nd. Sanford C. Bernstein upgraded Shell to a “strong-buy” rating in a report on Friday, October 11th. Scotiabank decreased their price objective on Shell from $90.00 to $80.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Citigroup upgraded Shell to a “hold” rating in a report on Wednesday, October 2nd. Finally, Wells Fargo & Company raised their price objective on Shell from $84.00 to $88.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, Shell presently has an average rating of “Buy” and an average price target of $82.00.

Shell Trading Down 1.6 %

Shell stock opened at $64.21 on Thursday. Shell plc has a 52 week low of $60.34 and a 52 week high of $74.61. 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 $198.76 billion, a P/E ratio of 13.21, a PEG ratio of 1.96 and a beta of 0.55. The stock has a 50-day simple moving average of $66.64 and a 200 day simple moving average of $69.45.

Shell Dividend Announcement

The business also recently disclosed 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 of this dividend is Friday, November 15th. This represents a $2.75 annualized dividend and a yield of 4.29%. Shell’s dividend payout ratio (DPR) is presently 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.