HighTower Advisors LLC Grows Position in Shell plc (NYSE:SHEL)

HighTower Advisors LLC boosted its position in shares of Shell plc (NYSE:SHEL) by 0.8% in the third quarter, HoldingsChannel reports. The institutional investor owned 463,797 shares of the energy company’s stock after acquiring an additional 3,476 shares during the quarter. HighTower Advisors LLC’s holdings in Shell were worth $30,592,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

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

Shell Price Performance

SHEL opened at $64.35 on Friday. Shell plc has a 1 year low of $60.34 and a 1 year high of $74.61. The stock has a 50-day moving average price of $66.62 and a 200-day moving average price of $69.41. The firm has a market cap of $199.19 billion, a PE ratio of 13.24, a P/E/G ratio of 1.96 and a beta of 0.55. 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 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.688 per share. This represents a $2.75 dividend on an annualized basis and a dividend yield of 4.28%. The ex-dividend date is Friday, November 15th. Shell’s payout ratio is 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.