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

SeaCrest Wealth Management LLC lowered its stake in shares of Shell plc (NYSE:SHEL) by 8.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 27,729 shares of the energy company’s stock after selling 2,425 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Shell were worth $1,737,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. FMR LLC increased its position in Shell by 5.2% in the third quarter. FMR LLC now owns 65,298,943 shares of the energy company’s stock worth $4,306,465,000 after buying an additional 3,255,347 shares during the last quarter. Empyrean Capital Partners LP bought a new stake in Shell in the 2nd quarter valued at about $151,578,000. Jennison Associates LLC boosted its position in Shell by 188.0% during the third quarter. Jennison Associates LLC now owns 3,014,199 shares of the energy company’s stock worth $198,786,000 after purchasing an additional 1,967,672 shares during the period. Holocene Advisors LP raised its position in shares of Shell by 29.8% in the third quarter. Holocene Advisors LP now owns 3,773,617 shares of the energy company’s stock valued at $248,870,000 after purchasing an additional 866,954 shares during the period. Finally, Mediolanum International Funds Ltd purchased a new stake in shares of Shell during the 3rd quarter valued at approximately $37,274,000. Institutional investors own 28.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Sanford C. Bernstein raised shares of Shell to a “strong-buy” rating in a report on Friday, October 11th. Morgan Stanley raised Shell from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $66.50 to $79.80 in a report on Tuesday, January 7th. Wolfe Research upgraded Shell from a “peer perform” rating to an “outperform” rating and set a $80.00 price target on the stock in a research report on Friday, January 3rd. Piper Sandler cut their price objective on shares of Shell from $82.00 to $72.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Finally, Barclays raised shares of Shell to a “strong-buy” rating in a report on Wednesday, October 2nd. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $79.69.

Shell Stock Up 1.6 %

Shares of NYSE:SHEL opened at $66.01 on Wednesday. The firm has a fifty day moving average of $64.28 and a 200 day moving average of $67.92. Shell plc has a 52-week low of $60.15 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 firm has a market capitalization of $203.13 billion, a PE ratio of 13.58, a price-to-earnings-growth ratio of 4.84 and a beta of 0.55.

Shell Dividend Announcement

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