Shell plc (NYSE:SHEL) Position Lowered by Zions Bancorporation N.A.

Zions Bancorporation N.A. lowered its position in shares of Shell plc (NYSE:SHEL) by 4.5% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 3,443 shares of the energy company’s stock after selling 161 shares during the quarter. Zions Bancorporation N.A.’s holdings in Shell were worth $227,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Empyrean Capital Partners LP bought a new position in Shell during the second quarter worth $151,578,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of Shell by 13.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,715,078 shares of the energy company’s stock valued at $450,180,000 after buying an additional 772,736 shares during the period. Raymond James & Associates raised its stake 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 acquiring an additional 673,624 shares during the period. Senator Investment Group LP bought a new position in Shell in the first quarter worth about $42,775,000. Finally, Mediolanum International Funds Ltd bought a new position in shares of Shell during the third quarter valued at approximately $37,274,000. Institutional investors and hedge funds own 28.60% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Shell Stock Up 0.6 %

SHEL opened at $65.48 on Friday. Shell plc has a one year low of $60.34 and a one year 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. The stock’s fifty day moving average is $67.33 and its 200-day moving average is $70.15. The company has a market capitalization of $203.78 billion, a PE ratio of 13.47, a P/E/G ratio of 1.97 and a beta of 0.56.

Shell Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, November 15th will be issued a dividend of $0.688 per share. This represents a $2.75 dividend on an annualized basis and a yield of 4.20%. The ex-dividend date of this dividend is Friday, November 15th. Shell’s payout ratio is 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.