King Luther Capital Management Corp Reduces Stake in Shell plc (NYSE:SHEL)

King Luther Capital Management Corp trimmed its holdings in Shell plc (NYSE:SHEL) by 1.8% in the third quarter, HoldingsChannel.com reports. The firm owned 23,397 shares of the energy company’s stock after selling 435 shares during the quarter. King Luther Capital Management Corp’s holdings in Shell were worth $1,543,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Altman Advisors Inc. grew its stake in Shell by 1.5% during the 3rd quarter. Altman Advisors Inc. now owns 23,544 shares of the energy company’s stock worth $1,553,000 after buying an additional 349 shares during the last quarter. First Horizon Advisors Inc. grew its position in shares of Shell by 3.0% during the third quarter. First Horizon Advisors Inc. now owns 11,425 shares of the energy company’s stock worth $754,000 after acquiring an additional 328 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in Shell by 60.9% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,482 shares of the energy company’s stock valued at $889,000 after purchasing an additional 5,104 shares during the last quarter. Howe & Rusling Inc. boosted its stake in Shell by 42.9% during the 3rd quarter. Howe & Rusling Inc. now owns 24,479 shares of the energy company’s stock worth $1,614,000 after purchasing an additional 7,345 shares during the period. Finally, Jennison Associates LLC increased its stake in Shell by 188.0% in the third quarter. Jennison Associates LLC now owns 3,014,199 shares of the energy company’s stock valued at $198,786,000 after purchasing an additional 1,967,672 shares during the period. Institutional investors and hedge funds own 28.60% of the company’s stock.

Shell Trading Down 0.4 %

Shares of SHEL opened at $66.03 on Friday. The firm’s 50-day moving average is $67.28 and its two-hundred day moving average is $69.99. Shell plc has a twelve month low of $60.34 and a twelve month high of $74.61. The company has a current ratio of 1.40, a quick ratio of 1.13 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $204.39 billion, a P/E ratio of 13.59, a PEG ratio of 1.97 and a beta of 0.56.

Shell Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, November 15th will be paid a $0.688 dividend. This represents a $2.75 annualized dividend and a yield of 4.17%. The ex-dividend date of this dividend is Friday, November 15th. Shell’s payout ratio is currently 56.58%.

Analyst Ratings Changes

SHEL has been the topic of a number of research reports. Barclays raised Shell to a “strong-buy” rating in a report on Wednesday, October 2nd. Sanford C. Bernstein raised Shell to a “strong-buy” rating in a report on Friday, October 11th. Citigroup raised Shell to a “hold” rating in a report on Wednesday, October 2nd. Scotiabank cut their price objective on shares of Shell from $90.00 to $80.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Finally, Wells Fargo & Company lifted their target price on shares of Shell from $84.00 to $88.00 and gave the company an “overweight” rating in a 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 company’s stock. Based on data from MarketBeat.com, Shell currently has an average rating of “Buy” and an average price target 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.