Shell plc (NYSE:SHEL) Stake Decreased by Soltis Investment Advisors LLC

Soltis Investment Advisors LLC reduced its holdings in Shell plc (NYSE:SHEL) by 94.1% during the 3rd quarter, Holdings Channel reports. The fund owned 3,722 shares of the energy company’s stock after selling 58,839 shares during the quarter. Soltis Investment Advisors LLC’s holdings in Shell were worth $245,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in the business. Coldstream Capital Management Inc. raised its stake in shares of Shell by 11.3% during the third quarter. Coldstream Capital Management Inc. now owns 12,183 shares of the energy company’s stock valued at $803,000 after purchasing an additional 1,240 shares in the last quarter. MML Investors Services LLC increased its stake in Shell by 1.4% during the 3rd quarter. MML Investors Services LLC now owns 126,821 shares of the energy company’s stock valued at $8,364,000 after buying an additional 1,794 shares during the period. Orion Portfolio Solutions LLC lifted its stake in shares of Shell by 6.9% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 63,004 shares of the energy company’s stock worth $4,155,000 after acquiring an additional 4,074 shares during the period. XTX Topco Ltd bought a new position in shares of Shell in the third quarter valued at approximately $2,511,000. Finally, Yaupon Capital Management LP increased its stake in shares of Shell by 35.5% during the third quarter. Yaupon Capital Management LP now owns 693,641 shares of the energy company’s stock valued at $45,746,000 after acquiring an additional 181,601 shares during the period. Institutional investors own 28.60% of the company’s stock.

Wall Street Analysts Forecast Growth

SHEL has been the subject of a number of research reports. Barclays raised Shell to a “strong-buy” rating in a research note on Wednesday, October 2nd. Wells Fargo & Company decreased their target price on Shell from $88.00 to $87.00 and set an “overweight” rating for the company in a research note on Monday. Sanford C. Bernstein raised shares of Shell to a “strong-buy” rating in a report on Friday, October 11th. Scotiabank lowered 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 note on Thursday, October 10th. Finally, Citigroup raised shares of Shell to a “hold” rating in a research note on Wednesday, October 2nd. Three 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 stock. Based on data from MarketBeat, Shell has an average rating of “Buy” and a consensus price target of $81.75.

Shell Price Performance

SHEL stock opened at $64.00 on Friday. The firm has a 50-day moving average of $66.33 and a two-hundred day moving average of $69.18. The firm has a market capitalization of $198.11 billion, a PE ratio of 13.17, a P/E/G ratio of 4.92 and a beta of 0.55. 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 plc has a one year low of $60.34 and a one year high of $74.61.

Shell Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, November 15th will be given a dividend of $0.688 per share. This represents a $2.75 annualized dividend and a yield of 4.30%. 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.