Douglas Lane & Associates LLC Cuts Position in Shell plc (NYSE:SHEL)

Douglas Lane & Associates LLC reduced its holdings in shares of Shell plc (NYSE:SHEL) by 13.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 618,316 shares of the energy company’s stock after selling 96,226 shares during the quarter. Douglas Lane & Associates LLC’s holdings in Shell were worth $38,737,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently modified their holdings of the stock. Procyon Advisors LLC raised its position in shares of Shell by 3.2% in the third quarter. Procyon Advisors LLC now owns 5,074 shares of the energy company’s stock valued at $335,000 after buying an additional 159 shares during the last quarter. GHP Investment Advisors Inc. grew its holdings in Shell by 40.8% in the 3rd quarter. GHP Investment Advisors Inc. now owns 563 shares of the energy company’s stock valued at $37,000 after buying an additional 163 shares during the period. Beddow Capital Management Inc. increased its position in Shell by 0.3% during the second quarter. Beddow Capital Management Inc. now owns 61,061 shares of the energy company’s stock worth $4,407,000 after purchasing an additional 165 shares during the last quarter. Doliver Advisors LP increased its stake in Shell by 5.2% during the fourth quarter. Doliver Advisors LP now owns 3,632 shares of the energy company’s stock worth $228,000 after acquiring an additional 180 shares during the last quarter. Finally, OneDigital Investment Advisors LLC raised its stake in shares of Shell by 2.5% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 7,889 shares of the energy company’s stock valued at $520,000 after acquiring an additional 196 shares during the period. 28.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SHEL has been the topic of several recent research reports. Scotiabank reduced their price target 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. Barclays upgraded Shell to a “strong-buy” rating in a research note on Wednesday, October 2nd. Citigroup upgraded Shell to a “hold” rating in a research report on Wednesday, October 2nd. Sanford C. Bernstein upgraded Shell to a “strong-buy” rating in a research note on Friday, October 11th. Finally, Wells Fargo & Company dropped their price target on Shell from $88.00 to $87.00 and set an “overweight” rating on the stock in a research report on Monday, December 9th. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, Shell currently has a consensus rating of “Buy” and a consensus target price of $79.83.

Shell Price Performance

Shares of SHEL traded down $1.52 during midday trading on Wednesday, reaching $64.41. The stock had a trading volume of 3,908,626 shares, compared to its average volume of 4,355,674. The firm’s 50 day moving average price is $64.50 and its 200-day moving average price is $68.15. The company has a market capitalization of $198.21 billion, a P/E ratio of 13.25, a P/E/G ratio of 4.84 and a beta of 0.55. Shell plc has a 52 week low of $60.15 and a 52 week high of $74.61. 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Friday, November 15th were paid a dividend of $0.688 per share. This represents a $2.75 annualized dividend and a dividend yield of 4.27%. The ex-dividend date was Friday, November 15th. Shell’s dividend payout ratio is presently 56.58%.

Shell Company Profile

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.