Shell plc (NYSE:SHEL) Shares Sold by Harmony Asset Management LLC

Harmony Asset Management LLC cut its stake in Shell plc (NYSE:SHEL) by 9.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,307 shares of the energy company’s stock after selling 1,000 shares during the quarter. Harmony Asset Management LLC’s holdings in Shell were worth $614,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. NorthCrest Asset Manangement LLC boosted its holdings in Shell by 6.4% during the third quarter. NorthCrest Asset Manangement LLC now owns 3,741 shares of the energy company’s stock worth $247,000 after purchasing an additional 225 shares during the last quarter. Creative Planning grew its holdings in shares of Shell by 11.3% in the second quarter. Creative Planning now owns 292,587 shares of the energy company’s stock worth $21,119,000 after acquiring an additional 29,677 shares during the period. Raymond James & Associates boosted its holdings in Shell by 65.7% during the 2nd quarter. Raymond James & Associates now owns 1,698,247 shares of the energy company’s stock valued at $122,579,000 after acquiring an additional 673,624 shares during the period. Foresight Global Investors Inc. acquired a new position in Shell during the 2nd quarter valued at approximately $1,472,000. Finally, Rockefeller Capital Management L.P. lifted its position in Shell by 1.5% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 3,125,284 shares of the energy company’s stock worth $206,116,000 after buying an additional 46,293 shares in the last quarter. 28.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Citigroup raised shares of Shell to a “hold” rating in a report on Wednesday, October 2nd. Berenberg Bank raised Shell to a “strong-buy” rating in a research note on Monday, August 5th. Barclays raised Shell to a “strong-buy” rating in a report on Wednesday, October 2nd. Sanford C. Bernstein upgraded shares of Shell to a “strong-buy” rating in a research note on Friday, October 11th. Finally, Wells Fargo & Company upped their price target on shares of Shell from $84.00 to $88.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Three 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, the company has an average rating of “Buy” and a consensus target price of $82.00.

Shell Trading Down 0.7 %

Shares of NYSE:SHEL opened at $64.31 on Tuesday. The stock’s fifty day moving average price is $66.79 and its 200-day moving average price is $69.53. 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 plc has a 1 year low of $60.34 and a 1 year high of $74.61. The company has a market cap of $199.07 billion, a P/E ratio of 13.23, a PEG ratio of 1.94 and a beta of 0.55.

Shell Dividend Announcement

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