Glenmede Trust Co. NA Trims Holdings in Shell plc (NYSE:SHEL)

Glenmede Trust Co. NA cut its stake in Shell plc (NYSE:SHEL) by 8.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 190,581 shares of the energy company’s stock after selling 17,892 shares during the period. Glenmede Trust Co. NA’s holdings in Shell were worth $12,569,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. Hobbs Group Advisors LLC bought a new position in Shell during the second quarter worth $26,000. Fortitude Family Office LLC bought a new position in shares of Shell in the 3rd quarter worth about $30,000. Triad Wealth Partners LLC bought a new stake in shares of Shell during the 2nd quarter valued at about $31,000. Fairscale Capital LLC bought a new position in Shell in the second quarter worth about $33,000. Finally, Valley Wealth Managers Inc. acquired a new position in Shell in the third quarter valued at approximately $33,000. 28.60% of the stock is owned by institutional investors and hedge funds.

Shell Price Performance

Shares of Shell stock opened at $64.73 on Friday. Shell plc has a 52 week low of $60.34 and a 52 week 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 company’s 50-day moving average price is $66.89 and its two-hundred day moving average price is $69.64. The stock has a market cap of $200.37 billion, a PE ratio of 13.32, a price-to-earnings-growth ratio of 1.95 and a beta of 0.56.

Shell Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, November 15th will be issued a $0.688 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.75 annualized dividend and a dividend yield of 4.25%. Shell’s dividend payout ratio is currently 56.58%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Barclays upgraded Shell to a “strong-buy” rating in a research report on Wednesday, October 2nd. Wells Fargo & Company boosted their price target on shares of Shell from $84.00 to $88.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Citigroup upgraded shares of Shell to a “hold” rating in a research report on Wednesday, October 2nd. Berenberg Bank upgraded shares of Shell to a “strong-buy” rating in a research note on Monday, August 5th. Finally, Scotiabank lowered their target price on Shell from $90.00 to $80.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Three analysts have rated the stock with a hold rating, four have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus 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.