Cary Street Partners Asset Management LLC Sells 4,397 Shares of Shell plc (NYSE:SHEL)

Cary Street Partners Asset Management LLC lowered its stake in shares of Shell plc (NYSE:SHEL) by 8.9% during the 3rd quarter, HoldingsChannel reports. The fund owned 45,102 shares of the energy company’s stock after selling 4,397 shares during the period. Cary Street Partners Asset Management LLC’s holdings in Shell were worth $2,974,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in SHEL. Hobbs Group Advisors LLC bought a new stake in Shell in the 2nd quarter worth approximately $26,000. Triad Wealth Partners LLC bought a new position in shares of Shell in the 2nd quarter worth approximately $31,000. Fairscale Capital LLC bought a new stake in shares of Shell during the second quarter valued at approximately $33,000. Fortitude Family Office LLC bought a new position in Shell in the third quarter worth $30,000. Finally, GHP Investment Advisors Inc. boosted its holdings in shares of Shell by 40.8% during the 3rd quarter. GHP Investment Advisors Inc. now owns 563 shares of the energy company’s stock valued at $37,000 after buying an additional 163 shares in the last quarter. 28.60% of the stock is currently owned by hedge funds and other institutional investors.

Shell Stock Performance

Shares of NYSE SHEL opened at $67.74 on Tuesday. The firm has a 50 day moving average of $67.97 and a 200 day moving average of $70.49. The firm has a market capitalization of $210.82 billion, a price-to-earnings ratio of 13.94, a price-to-earnings-growth ratio of 1.86 and a beta of 0.56. Shell plc has a 12-month low of $60.34 and a 12-month high of $74.61. 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 business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, November 15th will be given a $0.688 dividend. This represents a $2.75 dividend on an annualized basis and a yield of 4.06%. The ex-dividend date is Friday, November 15th. Shell’s payout ratio is 56.58%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on SHEL shares. Wolfe Research began 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 upped their price target on Shell from $84.00 to $88.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Sanford C. Bernstein upgraded Shell to a “strong-buy” rating in a research note on Friday, October 11th. Scotiabank reduced their price target on Shell from $90.00 to $80.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Finally, Berenberg Bank upgraded shares of Shell to a “strong-buy” rating in a research note on Monday, August 5th. Three investment 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 company’s stock. According to data from MarketBeat.com, Shell presently has a consensus rating of “Buy” and a consensus price target 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.