Glass Wealth Management Co LLC Lowers Stock Holdings in Shell plc (NYSE:SHEL)

Glass Wealth Management Co LLC decreased its position in shares of Shell plc (NYSE:SHEL) by 0.4% during the 3rd quarter, Holdings Channel.com reports. The fund owned 42,818 shares of the energy company’s stock after selling 185 shares during the period. Shell accounts for about 1.6% of Glass Wealth Management Co LLC’s holdings, making the stock its 25th largest position. Glass Wealth Management Co LLC’s holdings in Shell were worth $2,824,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its stake in shares of Shell by 0.4% in the second quarter. Dimensional Fund Advisors LP now owns 22,722,317 shares of the energy company’s stock valued at $1,640,082,000 after purchasing an additional 96,549 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Shell by 13.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,715,078 shares of the energy company’s stock worth $450,180,000 after acquiring an additional 772,736 shares in the last quarter. Westwood Global Investments LLC increased its position in shares of Shell by 4.1% during the second quarter. Westwood Global Investments LLC now owns 2,546,523 shares of the energy company’s stock worth $183,808,000 after acquiring an additional 100,379 shares during the period. Envestnet Asset Management Inc. raised its stake in shares of Shell by 6.4% in the second quarter. Envestnet Asset Management Inc. now owns 2,248,366 shares of the energy company’s stock valued at $162,287,000 after acquiring an additional 136,139 shares in the last quarter. Finally, Empyrean Capital Partners LP acquired a new position in Shell during the 2nd quarter worth $151,578,000. 28.60% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on SHEL. Citigroup upgraded Shell to a “hold” 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. Berenberg Bank raised shares of Shell to a “strong-buy” rating in a research report on Monday, August 5th. Wells Fargo & Company lifted their price objective on shares of Shell from $84.00 to $88.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Finally, Sanford C. Bernstein raised Shell to a “strong-buy” rating in a report on Friday, October 11th. Three 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 company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $82.00.

Shell Price Performance

Shares of NYSE:SHEL opened at $65.47 on Monday. 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 plc has a 12 month low of $60.34 and a 12 month high of $74.61. The firm has a market capitalization of $203.75 billion, a P/E ratio of 13.47, a P/E/G ratio of 1.97 and a beta of 0.56. The company’s fifty day moving average price is $67.33 and its 200 day moving average price is $70.14.

Shell Dividend Announcement

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