Chevy Chase Trust Holdings LLC Sells 26,321 Shares of Shell plc (NYSE:SHEL)

Chevy Chase Trust Holdings LLC trimmed its holdings in shares of Shell plc (NYSE:SHEL) by 1.4% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,814,369 shares of the energy company’s stock after selling 26,321 shares during the period. Chevy Chase Trust Holdings LLC owned approximately 0.06% of Shell worth $119,658,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of SHEL. FMR LLC grew its position in Shell by 5.2% in the 3rd quarter. FMR LLC now owns 65,298,943 shares of the energy company’s stock valued at $4,306,465,000 after purchasing an additional 3,255,347 shares during the period. Empyrean Capital Partners LP bought a new stake in shares of Shell during the second quarter worth about $151,578,000. Jennison Associates LLC raised its holdings in shares of Shell by 188.0% in the 3rd quarter. Jennison Associates LLC now owns 3,014,199 shares of the energy company’s stock worth $198,786,000 after acquiring an additional 1,967,672 shares during the last quarter. Raymond James & Associates boosted its stake in Shell by 65.7% during the 2nd quarter. Raymond James & Associates now owns 1,698,247 shares of the energy company’s stock valued at $122,579,000 after purchasing an additional 673,624 shares during the last quarter. Finally, Mediolanum International Funds Ltd purchased a new stake in shares of Shell in the third quarter worth approximately $37,274,000. Institutional investors and hedge funds own 28.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Scotiabank decreased their price target on Shell from $90.00 to $80.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Sanford C. Bernstein upgraded shares of Shell to a “strong-buy” rating in a report on Friday, October 11th. Wells Fargo & Company upped their price objective 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 shares of Shell to a “strong-buy” rating in a research report on Monday, August 5th. 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 issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, Shell currently has a consensus rating of “Buy” and an average target price of $82.00.

Shell Stock Down 0.3 %

Shares of NYSE SHEL opened at $64.74 on Monday. The business’s fifty day moving average price is $66.89 and its 200-day moving average price is $69.58. Shell plc has a one year low of $60.34 and a one year high of $74.61. The stock has a market capitalization of $200.40 billion, a PE ratio of 13.32, a P/E/G ratio of 1.94 and a beta of 0.56. 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 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. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.75 dividend on an annualized basis and a yield of 4.25%. Shell’s dividend payout ratio is presently 56.58%.

Shell 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.