Portside Wealth Group LLC Has $1.83 Million Position in Shell plc (NYSE:SHEL)

Portside Wealth Group LLC decreased its stake in Shell plc (NYSE:SHEL) by 6.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,680 shares of the energy company’s stock after selling 1,847 shares during the period. Portside Wealth Group LLC’s holdings in Shell were worth $1,825,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Dimensional Fund Advisors LP increased its position in shares of Shell by 0.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 22,722,317 shares of the energy company’s stock worth $1,640,082,000 after purchasing an additional 96,549 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Shell by 13.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,715,078 shares of the energy company’s stock worth $450,180,000 after buying an additional 772,736 shares during the last quarter. Westwood Global Investments LLC raised its position in Shell by 4.1% during the second quarter. Westwood Global Investments LLC now owns 2,546,523 shares of the energy company’s stock worth $183,808,000 after acquiring an additional 100,379 shares in the last quarter. Envestnet Asset Management Inc. grew its position in shares of Shell by 6.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 2,248,366 shares of the energy company’s stock valued at $162,287,000 after acquiring an additional 136,139 shares during the period. Finally, Mondrian Investment Partners LTD increased its stake in shares of Shell by 83.2% during the 1st quarter. Mondrian Investment Partners LTD now owns 2,187,872 shares of the energy company’s stock worth $146,675,000 after purchasing an additional 993,342 shares during the last quarter. Institutional investors and hedge funds own 28.60% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on SHEL. Barclays raised Shell to a “strong-buy” rating in a research report on Wednesday, October 2nd. Sanford C. Bernstein upgraded Shell to a “strong-buy” rating in a research note on Friday, October 11th. Wolfe Research started coverage on shares of Shell in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. Wells Fargo & Company increased 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. Finally, Citigroup upgraded 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 given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $82.00.

Shell Price Performance

NYSE:SHEL opened at $68.62 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.13 and a current ratio of 1.40. The firm has a market cap of $213.55 billion, a price-to-earnings ratio of 14.12, a P/E/G ratio of 2.04 and a beta of 0.56. Shell plc has a 52 week low of $60.34 and a 52 week high of $74.61. The firm’s 50-day simple moving average is $67.73 and its 200 day simple moving average is $70.44.

Shell Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders 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 yield of 4.01%. Shell’s dividend payout ratio (DPR) is presently 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.