Nicola Wealth Management LTD. Has $17.15 Million Stock Holdings in Shell plc (NYSE:SHEL)

Nicola Wealth Management LTD. lessened its position in shares of Shell plc (NYSE:SHEL) by 18.8% during the 3rd quarter, HoldingsChannel reports. The fund owned 260,000 shares of the energy company’s stock after selling 60,000 shares during the quarter. Shell accounts for about 1.6% of Nicola Wealth Management LTD.’s investment portfolio, making the stock its 27th largest holding. Nicola Wealth Management LTD.’s holdings in Shell were worth $17,147,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Hobbs Group Advisors LLC bought a new stake in shares of Shell in the second quarter worth about $26,000. Fortitude Family Office LLC acquired a new position in shares of Shell during the third quarter worth about $30,000. Triad Wealth Partners LLC acquired a new position in shares of Shell during the second quarter worth about $31,000. Fairscale Capital LLC acquired a new position in shares of Shell during the second quarter worth about $33,000. Finally, GHP Investment Advisors Inc. boosted its position in shares of Shell by 40.8% during the third quarter. GHP Investment Advisors Inc. now owns 563 shares of the energy company’s stock worth $37,000 after buying an additional 163 shares during the period. Institutional investors own 28.60% of the company’s stock.

Shell Stock Performance

Shares of SHEL traded up $0.46 during mid-day trading on Thursday, reaching $65.94. The company’s stock had a trading volume of 1,436,129 shares, compared to its average volume of 4,223,738. Shell plc has a 1-year low of $60.34 and a 1-year high of $74.61. The stock has a market cap of $205.21 billion, a P/E ratio of 13.48, a PEG ratio of 1.98 and a beta of 0.56. The business has a 50-day simple moving average of $67.41 and a two-hundred day simple moving average of $70.23. The company has a current ratio of 1.40, a quick ratio of 1.13 and a debt-to-equity ratio of 0.34.

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 paid a dividend of $0.688 per share. The ex-dividend date is Friday, November 15th. This represents a $2.75 dividend on an annualized basis and a dividend yield of 4.17%. Shell’s dividend payout ratio (DPR) is currently 56.58%.

Analysts Set New Price Targets

SHEL has been the subject of several recent research reports. Scotiabank reduced their price objective on Shell from $90.00 to $80.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Wolfe Research assumed coverage on Shell in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. Wells Fargo & Company increased their price target on Shell from $84.00 to $88.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Barclays raised Shell to a “strong-buy” rating in a research report on Wednesday, October 2nd. Finally, Citigroup raised Shell to a “hold” rating in a research report on Wednesday, October 2nd. Three 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.com, the company presently has an average rating of “Buy” and a consensus target price of $82.00.

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.