Foundry Partners LLC Sells 3,435 Shares of Shell plc (NYSE:SHEL)

Foundry Partners LLC lowered its position in Shell plc (NYSE:SHEL) by 0.7% during the third quarter, according to its most recent filing with the SEC. The firm owned 502,088 shares of the energy company’s stock after selling 3,435 shares during the period. Shell accounts for approximately 1.6% of Foundry Partners LLC’s portfolio, making the stock its 8th largest position. Foundry Partners LLC’s holdings in Shell were worth $33,113,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Hobbs Group Advisors LLC bought a new stake in Shell in the 2nd quarter valued at about $26,000. Fortitude Family Office LLC acquired a new stake in Shell in the 3rd quarter valued at $30,000. Triad Wealth Partners LLC acquired a new position in Shell during the second quarter worth $31,000. Fairscale Capital LLC acquired a new position in shares of Shell during the second quarter valued at about $33,000. Finally, Valley Wealth Managers Inc. bought a new stake in shares of Shell during the third quarter worth about $33,000. Institutional investors own 28.60% of the company’s stock.

Shell Stock Performance

Shares of SHEL opened at $65.42 on Thursday. The stock’s 50-day simple moving average is $67.31 and its 200 day simple moving average is $70.04. Shell plc has a 52-week low of $60.34 and a 52-week high of $74.61. The stock has a market capitalization of $202.50 billion, a price-to-earnings ratio of 13.46, a price-to-earnings-growth ratio of 1.97 and a beta of 0.56. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.13 and a current ratio of 1.40.

Shell Dividend Announcement

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 given a dividend of $0.688 per share. This represents a $2.75 annualized dividend and a yield of 4.21%. The ex-dividend date of this dividend is Friday, November 15th. Shell’s payout ratio is 56.58%.

Analyst Upgrades and Downgrades

SHEL has been the subject of several analyst reports. Barclays raised Shell to a “strong-buy” rating in a research note on Wednesday, October 2nd. Wells Fargo & Company raised their price objective on Shell from $84.00 to $88.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Scotiabank lowered their target price on shares of Shell from $90.00 to $80.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Sanford C. Bernstein raised shares of Shell to a “strong-buy” rating in a research report on Friday, October 11th. Finally, Berenberg Bank raised shares of Shell to a “strong-buy” rating in a research report on Monday, August 5th. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $82.00.

Shell 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.