Shell plc (NYSE:SHEL) Shares Acquired by Baker Avenue Asset Management LP

Baker Avenue Asset Management LP lifted its stake in shares of Shell plc (NYSE:SHEL) by 0.4% during the third quarter, Holdings Channel.com reports. The fund owned 58,644 shares of the energy company’s stock after purchasing an additional 227 shares during the period. Baker Avenue Asset Management LP’s holdings in Shell were worth $3,868,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. NorthCrest Asset Manangement LLC increased its stake in shares of Shell by 6.4% during the third quarter. NorthCrest Asset Manangement LLC now owns 3,741 shares of the energy company’s stock valued at $247,000 after acquiring an additional 225 shares during the period. Lazard Asset Management LLC boosted its holdings in Shell by 21.0% during the first 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 in the last quarter. Creative Planning boosted its holdings in Shell by 11.3% during the second quarter. Creative Planning now owns 292,587 shares of the energy company’s stock worth $21,119,000 after buying an additional 29,677 shares in the last quarter. Raymond James & Associates boosted its holdings in Shell by 65.7% during the second quarter. Raymond James & Associates now owns 1,698,247 shares of the energy company’s stock worth $122,579,000 after buying an additional 673,624 shares in the last quarter. Finally, Foresight Global Investors Inc. bought a new stake in Shell during the second quarter worth approximately $1,472,000. Institutional investors and hedge funds own 28.60% of the company’s stock.

Shell Trading Down 2.3 %

Shell stock opened at $67.06 on Monday. The company’s fifty day simple moving average is $67.64 and its 200-day simple moving average is $70.37. The company has a quick ratio of 1.13, a current ratio of 1.40 and a debt-to-equity ratio of 0.34. Shell plc has a 12 month low of $60.34 and a 12 month high of $74.61. The stock has a market cap of $208.70 billion, a P/E ratio of 13.80, a P/E/G ratio of 2.02 and a beta of 0.56.

Shell Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.688 per share. This represents a $2.75 annualized dividend and a dividend yield of 4.10%. The ex-dividend date of this dividend is Friday, November 15th. Shell’s dividend payout ratio is currently 56.58%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on SHEL shares. Barclays upgraded shares of Shell to a “strong-buy” rating in a report on Wednesday, October 2nd. Sanford C. Bernstein upgraded shares of Shell to a “strong-buy” rating in a report on Friday, October 11th. Wells Fargo & Company raised their price objective on shares of Shell from $84.00 to $88.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Royal Bank of Canada upgraded shares of Shell to a “moderate buy” rating in a research report on Tuesday, July 30th. Finally, Citigroup upgraded shares of Shell to a “hold” rating in a research report on Wednesday, October 2nd. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $82.00.

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.