Navellier & Associates Inc. Sells 776 Shares of Shell plc (NYSE:SHEL)

Navellier & Associates Inc. lessened its stake in shares of Shell plc (NYSE:SHEL) by 4.2% in the 3rd quarter, Holdings Channel reports. The firm owned 17,646 shares of the energy company’s stock after selling 776 shares during the period. Navellier & Associates Inc.’s holdings in Shell were worth $1,164,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

SHEL has been the topic of a number of analyst reports. Wells Fargo & Company boosted 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. Barclays raised Shell to a “strong-buy” rating in a research report on Wednesday, October 2nd. Scotiabank decreased their target price on Shell from $90.00 to $80.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Berenberg Bank raised shares of Shell to a “strong-buy” rating in a research note on Monday, August 5th. 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 assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, Shell has a consensus rating of “Buy” and a consensus price target of $82.00.

Shell Trading Up 1.3 %

NYSE SHEL opened at $66.30 on Friday. The company’s 50-day simple moving average is $67.29 and its two-hundred day simple moving average is $70.01. Shell plc has a one year low of $60.34 and a one year high of $74.61. The company has a market capitalization of $205.21 billion, a price-to-earnings ratio of 13.64, 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 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 paid a $0.688 dividend. This represents a $2.75 dividend on an annualized basis and a yield of 4.15%. The ex-dividend date of this dividend is Friday, November 15th. Shell’s dividend payout ratio (DPR) 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.