Wrapmanager Inc. Sells 330 Shares of Shell plc (NYSE:SHEL)

Wrapmanager Inc. trimmed its holdings in shares of Shell plc (NYSE:SHEL) by 3.7% in the third quarter, according to its most recent filing with the SEC. The firm owned 8,545 shares of the energy company’s stock after selling 330 shares during the period. Wrapmanager Inc.’s holdings in Shell were worth $564,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Hobbs Group Advisors LLC bought a new position in shares of Shell during the 2nd quarter worth about $26,000. Fortitude Family Office LLC acquired a new stake in shares of Shell during the 3rd quarter worth about $30,000. Triad Wealth Partners LLC acquired a new stake in shares of Shell during the 2nd quarter worth about $31,000. Fairscale Capital LLC acquired a new stake in shares of Shell during the 2nd quarter worth about $33,000. Finally, Valley Wealth Managers Inc. acquired a new stake in shares of Shell during the 3rd quarter worth about $33,000. 28.60% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on SHEL. Royal Bank of Canada upgraded shares of Shell to a “moderate buy” rating in a research report on Tuesday, July 30th. Wells Fargo & Company raised their price objective on shares of Shell from $84.00 to $88.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Sanford C. Bernstein upgraded shares of Shell to a “strong-buy” rating in a research report on Friday, October 11th. Barclays upgraded 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 research report on Wednesday, October 2nd. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, Shell currently has an average rating of “Buy” and a consensus price target of $82.00.

Shell Stock Performance

Shares of SHEL opened at $66.33 on Tuesday. Shell plc has a 12 month low of $60.34 and a 12 month high of $74.61. The firm has a fifty day simple moving average of $67.33 and a 200 day simple moving average of $70.13. The stock has a market capitalization of $205.31 billion, a price-to-earnings ratio of 13.65, a PEG ratio of 1.96 and a beta of 0.56. The company has a current ratio of 1.40, a quick ratio of 1.13 and a debt-to-equity ratio of 0.34.

Shell Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, November 15th will be issued a dividend of $0.688 per share. This represents a $2.75 annualized dividend and a yield of 4.15%. The ex-dividend date of this dividend 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.