Logan Capital Management Inc. Reduces Stock Holdings in Shell plc (NYSE:SHEL)

Logan Capital Management Inc. lessened its stake in Shell plc (NYSE:SHEL) by 2.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 256,060 shares of the energy company’s stock after selling 6,595 shares during the period. Logan Capital Management Inc.’s holdings in Shell were worth $16,887,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the company. Envestnet Portfolio Solutions Inc. raised its position in Shell by 9.0% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 52,704 shares of the energy company’s stock valued at $3,804,000 after purchasing an additional 4,361 shares during the last quarter. AdvisorNet Financial Inc boosted its position in shares of Shell by 31.5% during the 2nd quarter. AdvisorNet Financial Inc now owns 1,984 shares of the energy company’s stock worth $143,000 after purchasing an additional 475 shares in the last quarter. Fiduciary Financial Group LLC acquired a new position in Shell during the second quarter worth about $380,000. Triad Wealth Partners LLC acquired a new stake in Shell in the second quarter valued at $31,000. Finally, Coronation Fund Managers Ltd. increased its position in shares of Shell by 7.6% in the second quarter. Coronation Fund Managers Ltd. now owns 15,201 shares of the energy company’s stock valued at $1,097,000 after buying an additional 1,068 shares in the last quarter. Hedge funds and other institutional investors own 28.60% of the company’s stock.

Shell Stock Down 0.5 %

Shares of Shell stock traded down $0.34 on Friday, hitting $63.66. 474,545 shares of the company’s stock traded hands, compared to its average volume of 4,187,545. The company has a quick ratio of 1.13, a current ratio of 1.40 and a debt-to-equity ratio of 0.34. The firm’s 50-day moving average is $66.33 and its 200 day moving average is $69.18. The stock has a market cap of $197.06 billion, a P/E ratio of 13.14, a PEG ratio of 4.92 and a beta of 0.55. Shell plc has a 52-week low of $60.34 and a 52-week high of $74.61.

Shell Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, November 15th will be given a $0.688 dividend. This represents a $2.75 annualized dividend and a dividend yield of 4.32%. The ex-dividend date of this dividend is Friday, November 15th. Shell’s payout ratio is currently 56.58%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on SHEL shares. Sanford C. Bernstein raised shares of Shell to a “strong-buy” rating in a report on Friday, October 11th. Wells Fargo & Company lowered their price target on shares of Shell from $88.00 to $87.00 and set an “overweight” rating for the company in a report on Monday. Barclays upgraded Shell to a “strong-buy” rating in a report on Wednesday, October 2nd. Scotiabank decreased their target price on shares of Shell from $90.00 to $80.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Finally, Citigroup raised shares of Shell to a “hold” rating in a research report on Wednesday, October 2nd. 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. According to data from MarketBeat.com, Shell has an average rating of “Buy” and a consensus target price of $81.75.

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.