Shell plc (NYSE:SHEL) Position Trimmed by Hardy Reed LLC

Hardy Reed LLC lowered its stake in Shell plc (NYSE:SHEL) by 25.5% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 4,397 shares of the energy company’s stock after selling 1,504 shares during the period. Hardy Reed LLC’s holdings in Shell were worth $290,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Hobbs Group Advisors LLC purchased a new position in Shell in the 2nd quarter worth about $26,000. Fortitude Family Office LLC purchased a new position in shares of Shell in the third quarter worth approximately $30,000. Triad Wealth Partners LLC acquired a new stake in shares of Shell during the second quarter valued at approximately $31,000. Fairscale Capital LLC acquired a new position in Shell in the 2nd quarter worth approximately $33,000. Finally, Valley Wealth Managers Inc. purchased a new position in Shell during the 3rd quarter worth approximately $33,000. 28.60% of the stock is owned by institutional investors.

Analyst Ratings Changes

SHEL has been the subject of several recent analyst reports. Scotiabank decreased their target price on Shell from $90.00 to $80.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Berenberg Bank raised Shell to a “strong-buy” rating in a research note on Monday, August 5th. Sanford C. Bernstein raised shares of Shell to a “strong-buy” rating in a research report on Friday, October 11th. Barclays raised shares of Shell to a “strong-buy” rating in a research report on Wednesday, October 2nd. Finally, Citigroup upgraded shares of Shell to a “hold” rating in a report on Wednesday, October 2nd. Three 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 stock. According to MarketBeat.com, Shell has an average rating of “Buy” and an average price target of $82.00.

Shell Price Performance

Shares of NYSE:SHEL opened at $64.79 on Wednesday. The stock has a market capitalization of $200.54 billion, a P/E ratio of 13.33, a P/E/G ratio of 1.95 and a beta of 0.56. The business has a 50-day moving average of $67.19 and a two-hundred day moving average of $69.84. Shell plc has a fifty-two week low of $60.34 and a fifty-two week high of $74.61. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.40 and a quick ratio of 1.13.

Shell Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, November 15th will be issued 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 4.25%. Shell’s dividend payout ratio (DPR) is presently 56.58%.

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.