SeaCrest Wealth Management LLC Reduces Holdings in Shell plc (NYSE:SHEL)

SeaCrest Wealth Management LLC reduced its stake in Shell plc (NYSE:SHEL) by 8.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 27,729 shares of the energy company’s stock after selling 2,425 shares during the period. SeaCrest Wealth Management LLC’s holdings in Shell were worth $1,737,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Procyon Advisors LLC increased its position in shares of Shell by 3.2% in the third quarter. Procyon Advisors LLC now owns 5,074 shares of the energy company’s stock valued at $335,000 after acquiring an additional 159 shares during the period. GHP Investment Advisors Inc. grew its stake in shares of Shell by 40.8% in the third quarter. GHP Investment Advisors Inc. now owns 563 shares of the energy company’s stock worth $37,000 after purchasing an additional 163 shares during the last quarter. Beddow Capital Management Inc. raised its position in Shell by 0.3% during the 2nd quarter. Beddow Capital Management Inc. now owns 61,061 shares of the energy company’s stock valued at $4,407,000 after purchasing an additional 165 shares during the last quarter. Doliver Advisors LP lifted its holdings in Shell by 5.2% in the 4th quarter. Doliver Advisors LP now owns 3,632 shares of the energy company’s stock worth $228,000 after buying an additional 180 shares during the period. Finally, OneDigital Investment Advisors LLC increased its stake in shares of Shell by 2.5% during the third quarter. OneDigital Investment Advisors LLC now owns 7,889 shares of the energy company’s stock valued at $520,000 after buying an additional 196 shares during the period. Hedge funds and other institutional investors own 28.60% of the company’s stock.

Shell Stock Performance

NYSE:SHEL opened at $66.01 on Wednesday. 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 50-day simple moving average of $64.28 and a two-hundred day simple moving average of $67.92. The firm has a market capitalization of $203.13 billion, a PE ratio of 13.58, a P/E/G ratio of 4.84 and a beta of 0.55. Shell plc has a 52-week low of $60.15 and a 52-week high of $74.61.

Shell Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Friday, November 15th were issued a $0.688 dividend. This represents a $2.75 annualized dividend and a yield of 4.17%. The ex-dividend date of this dividend was Friday, November 15th. Shell’s dividend payout ratio is 56.58%.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Wolfe Research upgraded shares of Shell from a “peer perform” rating to an “outperform” rating and set a $80.00 price objective for the company in a report on Friday, January 3rd. Wells Fargo & Company lowered their price objective on shares of Shell from $87.00 to $86.00 and set an “overweight” rating for the company in a report on Friday, January 10th. Scotiabank reduced their target price on Shell from $90.00 to $80.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Citigroup upgraded Shell to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Morgan Stanley raised Shell from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $66.50 to $79.80 in a research note on Tuesday, January 7th. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Shell currently has a consensus rating of “Buy” and a consensus price target of $79.69.

About Shell

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.