Cary Street Partners Asset Management LLC Has $2.97 Million Position in Shell plc (NYSE:SHEL)

Cary Street Partners Asset Management LLC reduced its position in shares of Shell plc (NYSE:SHEL) by 8.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. 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.

Several other hedge funds have also added to or reduced their stakes in the business. NorthCrest Asset Manangement LLC lifted its stake in shares of Shell by 6.4% in the 3rd quarter. NorthCrest Asset Manangement LLC now owns 3,741 shares of the energy company’s stock valued at $247,000 after purchasing an additional 225 shares during the period. Lazard Asset Management LLC grew its position in shares of Shell by 21.0% during the 1st quarter. Lazard Asset Management LLC now owns 44,896 shares of the energy company’s stock worth $3,009,000 after buying an additional 7,779 shares during the period. Creative Planning lifted its position in shares of Shell by 11.3% during the 2nd quarter. Creative Planning now owns 292,587 shares of the energy company’s stock valued at $21,119,000 after acquiring an additional 29,677 shares during the period. Raymond James & Associates grew its stake in Shell by 65.7% in the second quarter. Raymond James & Associates now owns 1,698,247 shares of the energy company’s stock valued at $122,579,000 after acquiring an additional 673,624 shares during the period. Finally, Foresight Global Investors Inc. bought a new stake in shares of Shell during the second quarter worth about $1,472,000. 28.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Wells Fargo & Company raised their target price on Shell from $84.00 to $88.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Sanford C. Bernstein upgraded shares of Shell to a “strong-buy” rating in a report on Friday, October 11th. Wolfe Research initiated coverage on shares of Shell in a report on Thursday, July 18th. They set a “peer perform” rating on the stock. Berenberg Bank upgraded shares of Shell to a “strong-buy” rating in a research note on Monday, August 5th. Finally, Royal Bank of Canada raised Shell to a “moderate buy” rating in a report on Tuesday, July 30th. 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $82.00.

Shell Price Performance

Shell stock opened at $67.74 on Tuesday. The company has a current ratio of 1.40, a quick ratio of 1.13 and a debt-to-equity ratio of 0.34. The business’s 50 day simple moving average is $67.97 and its 200 day simple moving average is $70.49. Shell plc has a 12 month low of $60.34 and a 12 month high of $74.61. The company has a market cap of $210.82 billion, a price-to-earnings ratio of 13.94, a PEG ratio of 1.86 and a beta of 0.56.

Shell Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, November 15th will be issued a $0.688 dividend. This represents a $2.75 annualized dividend and a yield of 4.06%. The ex-dividend date of this dividend is Friday, November 15th. Shell’s dividend payout ratio (DPR) is currently 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.