Ipswich Investment Management Co. Inc. Trims Holdings in Shell plc (NYSE:SHEL)

Ipswich Investment Management Co. Inc. reduced its position in Shell plc (NYSE:SHEL) by 1.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,117 shares of the energy company’s stock after selling 390 shares during the quarter. Ipswich Investment Management Co. Inc.’s holdings in Shell were worth $1,459,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC lifted its holdings in Shell by 1,293.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 6,898 shares of the energy company’s stock worth $462,000 after purchasing an additional 6,403 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Shell by 7.7% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 6,658 shares of the energy company’s stock valued at $446,000 after acquiring an additional 478 shares in the last quarter. Blair William & Co. IL lifted its stake in Shell by 2.7% in the 1st quarter. Blair William & Co. IL now owns 67,276 shares of the energy company’s stock worth $4,510,000 after purchasing an additional 1,759 shares in the last quarter. Orion Portfolio Solutions LLC boosted its holdings in shares of Shell by 5.3% during the 1st quarter. Orion Portfolio Solutions LLC now owns 58,908 shares of the energy company’s stock valued at $3,949,000 after purchasing an additional 2,977 shares during the last quarter. Finally, TIAA Trust National Association increased its holdings in shares of Shell by 4.9% in the first quarter. TIAA Trust National Association now owns 13,568 shares of the energy company’s stock worth $910,000 after purchasing an additional 630 shares during the last quarter. 28.60% of the stock is owned by hedge funds and other institutional investors.

Shell Trading Up 0.6 %

Shares of Shell stock opened at $65.48 on Friday. Shell plc has a twelve month low of $60.34 and a twelve month high of $74.61. The firm has a market capitalization of $203.78 billion, a PE ratio of 13.47, a P/E/G ratio of 1.97 and a beta of 0.56. The firm’s 50-day moving average price is $67.33 and its 200 day moving average price is $70.15. 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 disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, November 15th will be given a $0.688 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.75 annualized dividend and a yield of 4.20%. Shell’s payout ratio is 56.58%.

Analyst Ratings Changes

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

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.