Drive Wealth Management LLC Has $448,000 Position in Shell plc (NYSE:SHEL)

Drive Wealth Management LLC trimmed its holdings in shares of Shell plc (NYSE:SHEL) by 2.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,797 shares of the energy company’s stock after selling 192 shares during the quarter. Drive Wealth Management LLC’s holdings in Shell were worth $448,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. NorthCrest Asset Manangement LLC lifted its position in shares of Shell by 6.4% during the 3rd 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 increased its position in Shell by 21.0% in the 1st quarter. Lazard Asset Management LLC now owns 44,896 shares of the energy company’s stock valued at $3,009,000 after buying an additional 7,779 shares in the last quarter. Creative Planning increased its holdings in shares of Shell by 11.3% during the second quarter. Creative Planning now owns 292,587 shares of the energy company’s stock valued at $21,119,000 after acquiring an additional 29,677 shares in the last quarter. Raymond James & Associates lifted its holdings in shares of Shell by 65.7% in the 2nd quarter. Raymond James & Associates now owns 1,698,247 shares of the energy company’s stock worth $122,579,000 after purchasing an additional 673,624 shares in the last quarter. Finally, Foresight Global Investors Inc. acquired a new stake in Shell in the 2nd quarter valued at $1,472,000. 28.60% of the stock is currently owned by institutional investors and hedge funds.

Shell Stock Performance

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. The stock has a market capitalization of $203.75 billion, a PE ratio of 13.47, a P/E/G ratio of 1.97 and a beta of 0.56. Shell plc has a 1-year low of $60.34 and a 1-year high of $74.61. The business has a 50 day simple moving average of $67.33 and a two-hundred day simple moving average of $70.14.

Shell Dividend Announcement

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 given 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 dividend payout ratio (DPR) is 56.58%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on SHEL. Royal Bank of Canada raised Shell to a “moderate buy” rating in a research report on Tuesday, July 30th. Citigroup raised shares of Shell to a “hold” rating in a research report on Wednesday, October 2nd. Wells Fargo & Company lifted their target price 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. Berenberg Bank raised Shell to a “strong-buy” rating in a research report on Monday, August 5th. Finally, Sanford C. Bernstein upgraded Shell to a “strong-buy” rating in a research note on Friday, October 11th. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $82.00.

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.