Royal London Asset Management Ltd. Sells 52,684 Shares of Shell plc (NYSE:SHEL)

Royal London Asset Management Ltd. reduced its holdings in shares of Shell plc (NYSE:SHEL) by 75.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,033 shares of the energy company’s stock after selling 52,684 shares during the period. Royal London Asset Management Ltd.’s holdings in Shell were worth $1,123,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Hobbs Group Advisors LLC purchased a new position in shares of Shell during the second quarter valued at approximately $26,000. Fortitude Family Office LLC purchased a new position in Shell during the third quarter valued at $30,000. Triad Wealth Partners LLC purchased a new stake in shares of Shell in the second quarter worth $31,000. Fairscale Capital LLC bought a new position in shares of Shell during the second quarter valued at $33,000. Finally, Valley Wealth Managers Inc. bought a new position in Shell in the 3rd quarter worth about $33,000. Institutional investors own 28.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SHEL. Barclays upgraded shares of Shell to a “strong-buy” rating in a research note on Wednesday, October 2nd. Scotiabank decreased their price objective on shares of Shell from $90.00 to $80.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Sanford C. Bernstein upgraded Shell to a “strong-buy” rating in a research note on Friday, October 11th. Citigroup upgraded Shell to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Wells Fargo & Company lifted their price objective on Shell from $84.00 to $88.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $82.00.

Shell Trading Down 1.7 %

Shares of NYSE:SHEL opened at $63.25 on Monday. The stock’s 50-day simple moving average is $66.56 and its two-hundred day simple moving average is $69.33. The stock has a market capitalization of $195.79 billion, a price-to-earnings ratio of 13.01, a PEG ratio of 1.93 and a beta of 0.55. Shell plc has a 52-week low of $60.34 and a 52-week high of $74.61. 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 announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.688 per share. 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 4.35%. Shell’s dividend payout ratio 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.