Glass Wealth Management Co LLC Cuts Holdings in Shell plc (NYSE:SHEL)

Glass Wealth Management Co LLC cut its holdings in shares of Shell plc (NYSE:SHEL) by 0.4% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 42,818 shares of the energy company’s stock after selling 185 shares during the period. Shell makes up about 1.6% of Glass Wealth Management Co LLC’s portfolio, making the stock its 25th largest holding. Glass Wealth Management Co LLC’s holdings in Shell were worth $2,824,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Hobbs Group Advisors LLC purchased a new position in shares of Shell during the 2nd quarter valued at approximately $26,000. Fortitude Family Office LLC purchased a new position in Shell during the third quarter valued at $30,000. Triad Wealth Partners LLC purchased a new stake 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 2nd quarter worth about $33,000. Finally, Valley Wealth Managers Inc. acquired a new stake in Shell in the 3rd quarter worth about $33,000. Hedge funds and other institutional investors own 28.60% of the company’s stock.

Shell Trading Down 0.5 %

SHEL opened at $65.47 on Monday. The business’s 50 day moving average price is $67.33 and its 200 day moving average price is $70.14. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.13 and a current ratio of 1.40. The stock has a market capitalization of $203.75 billion, a PE ratio of 13.47, a P/E/G ratio of 1.97 and a beta of 0.56. Shell plc has a one year low of $60.34 and a one year high of $74.61.

Shell Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, November 15th will be given a dividend of $0.688 per share. This represents a $2.75 dividend on an annualized basis and a dividend yield of 4.20%. The ex-dividend date of this dividend is Friday, November 15th. Shell’s payout ratio is 56.58%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on SHEL shares. Barclays upgraded Shell to a “strong-buy” rating in a research report on Wednesday, October 2nd. Royal Bank of Canada upgraded Shell to a “moderate buy” rating in a report on Tuesday, July 30th. Berenberg Bank raised shares of Shell to a “strong-buy” rating in a report on Monday, August 5th. Wells Fargo & Company boosted their price target 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. 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 report on Thursday, October 10th. Three equities research analysts have rated the stock with a hold rating, four have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target 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.