Concurrent Investment Advisors LLC Grows Holdings in Shell plc (NYSE:SHEL)

Concurrent Investment Advisors LLC boosted its stake in Shell plc (NYSE:SHEL) by 13.4% during the 3rd quarter, HoldingsChannel reports. The fund owned 29,732 shares of the energy company’s stock after buying an additional 3,503 shares during the period. Concurrent Investment Advisors LLC’s holdings in Shell were worth $1,961,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Wolfe Research began coverage on shares of Shell in a report on Thursday, July 18th. They set a “peer perform” rating on the stock. Wells Fargo & Company raised their target price on shares of Shell from $84.00 to $88.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Barclays raised Shell to a “strong-buy” rating in a report on Wednesday, October 2nd. Scotiabank reduced their price objective 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. Finally, Berenberg Bank raised Shell to a “strong-buy” rating in a research report on Monday, August 5th. Three equities 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 company. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $82.00.

Shell Stock Up 0.4 %

Shares of Shell stock opened at $68.62 on Friday. Shell plc has a 1-year low of $60.34 and a 1-year high of $74.61. The company has a market capitalization of $213.55 billion, a P/E ratio of 14.12, a PEG ratio of 2.04 and a beta of 0.56. The business’s fifty day moving average price is $67.73 and its two-hundred day moving average price is $70.44. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.40 and a quick ratio of 1.13.

Shell Dividend Announcement

The business 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 $0.688 dividend. 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 is presently 56.58%.

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.