Dearborn Partners LLC Reduces Position in Shell plc (NYSE:SHEL)

Dearborn Partners LLC reduced its holdings in shares of Shell plc (NYSE:SHEL) by 3.0% in the third quarter, Holdings Channel.com reports. The fund owned 7,849 shares of the energy company’s stock after selling 244 shares during the quarter. Dearborn Partners LLC’s holdings in Shell were worth $518,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of SHEL. NorthCrest Asset Manangement LLC lifted its position in shares of Shell by 6.4% in 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 during the period. Lazard Asset Management LLC lifted its holdings in Shell by 21.0% during the first quarter. Lazard Asset Management LLC now owns 44,896 shares of the energy company’s stock worth $3,009,000 after buying an additional 7,779 shares during the period. Creative Planning increased its holdings in shares of Shell by 11.3% in the 2nd quarter. Creative Planning now owns 292,587 shares of the energy company’s stock valued at $21,119,000 after acquiring an additional 29,677 shares during the period. Raymond James & Associates raised its position in shares of Shell by 65.7% in the 2nd quarter. Raymond James & Associates now owns 1,698,247 shares of the energy company’s stock worth $122,579,000 after acquiring an additional 673,624 shares in the last quarter. Finally, Foresight Global Investors Inc. bought a new stake in Shell during the second quarter valued at about $1,472,000. Hedge funds and other institutional investors own 28.60% of the company’s stock.

Shell Trading Up 0.6 %

Shares of SHEL stock opened at $65.48 on Friday. Shell plc has a twelve month low of $60.34 and a twelve month high of $74.61. The stock has a market cap of $203.78 billion, a price-to-earnings ratio of 13.47, a PEG ratio of 1.97 and a beta of 0.56. The company’s 50-day moving average price is $67.33 and its 200-day moving average price is $70.15. 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 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 $0.688 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.75 dividend on an annualized basis and a yield of 4.20%. Shell’s payout ratio is currently 56.58%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on SHEL. Sanford C. Bernstein upgraded shares of Shell to a “strong-buy” rating in a research note on Friday, October 11th. Scotiabank reduced 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. Citigroup upgraded Shell to a “hold” rating in a research note on Wednesday, October 2nd. Berenberg Bank upgraded Shell to a “strong-buy” rating in a research note on Monday, August 5th. Finally, Wells Fargo & Company boosted their price target on Shell from $84.00 to $88.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average 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.