Kovack Advisors Inc. Sells 286 Shares of Shell plc (NYSE:SHEL)

Kovack Advisors Inc. reduced its stake in shares of Shell plc (NYSE:SHEL) by 3.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,328 shares of the energy company’s stock after selling 286 shares during the quarter. Kovack Advisors Inc.’s holdings in Shell were worth $549,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in SHEL. First Horizon Advisors Inc. raised its stake in shares of Shell by 1.3% during the second quarter. First Horizon Advisors Inc. now owns 11,097 shares of the energy company’s stock valued at $801,000 after acquiring an additional 142 shares in the last quarter. Lester Murray Antman dba SimplyRich lifted its holdings in shares of Shell by 0.6% in the 2nd quarter. Lester Murray Antman dba SimplyRich now owns 26,901 shares of the energy company’s stock worth $1,941,000 after buying an additional 158 shares during the period. Procyon Advisors LLC grew its position in shares of Shell by 3.2% during the 3rd quarter. Procyon Advisors LLC now owns 5,074 shares of the energy company’s stock worth $335,000 after buying an additional 159 shares in the last quarter. Sax Wealth Advisors LLC raised its holdings in shares of Shell by 4.1% in the second quarter. Sax Wealth Advisors LLC now owns 4,086 shares of the energy company’s stock valued at $295,000 after acquiring an additional 162 shares in the last quarter. Finally, GHP Investment Advisors Inc. grew its holdings in Shell by 40.8% during the 3rd quarter. GHP Investment Advisors Inc. now owns 563 shares of the energy company’s stock worth $37,000 after acquiring an additional 163 shares in the last quarter. Hedge funds and other institutional investors own 28.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on SHEL shares. Wells Fargo & Company increased their price objective on shares of Shell from $84.00 to $88.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Sanford C. Bernstein upgraded Shell to a “strong-buy” rating in a research note on Friday, October 11th. Citigroup upgraded shares of Shell to a “hold” rating in a report on Wednesday, October 2nd. Scotiabank cut their price objective on shares of Shell from $90.00 to $80.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Finally, Wolfe Research started coverage on shares of Shell in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Three equities research 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 data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $82.00.

Shell Price Performance

NYSE SHEL opened at $65.79 on Friday. The stock’s fifty day moving average price is $67.41 and its 200 day moving average price is $70.23. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.40 and a quick ratio of 1.13. The company has a market cap of $204.75 billion, a price-to-earnings ratio of 13.54, a PEG ratio of 1.97 and a beta of 0.56. Shell plc has a 1 year low of $60.34 and a 1 year high of $74.61.

Shell Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, November 15th will be paid a $0.688 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.75 dividend on an annualized basis and a dividend yield of 4.18%. Shell’s payout ratio is currently 56.58%.

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.