Paradigm Asset Management Co. LLC Trims Stock Position in Shell plc (NYSE:SHEL)

Paradigm Asset Management Co. LLC lessened its stake in shares of Shell plc (NYSE:SHEL) by 98.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,118 shares of the energy company’s stock after selling 87,652 shares during the quarter. Paradigm Asset Management Co. LLC’s holdings in Shell were worth $74,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of SHEL. Rakuten Securities Inc. raised its position in Shell by 567.0% in the 3rd quarter. Rakuten Securities Inc. now owns 627 shares of the energy company’s stock valued at $41,000 after purchasing an additional 533 shares during the last quarter. Apollon Wealth Management LLC increased its stake in Shell by 14.4% in the 3rd quarter. Apollon Wealth Management LLC now owns 22,030 shares of the energy company’s stock valued at $1,453,000 after buying an additional 2,766 shares during the period. Nations Financial Group Inc. IA ADV increased its stake in Shell by 8.3% in the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 3,209 shares of the energy company’s stock valued at $212,000 after buying an additional 247 shares during the period. Peregrine Asset Advisers Inc. increased its stake in Shell by 19.8% in the 3rd quarter. Peregrine Asset Advisers Inc. now owns 6,819 shares of the energy company’s stock valued at $450,000 after buying an additional 1,125 shares during the period. Finally, Meritage Portfolio Management increased its stake in Shell by 41.5% in the 3rd quarter. Meritage Portfolio Management now owns 68,954 shares of the energy company’s stock valued at $4,548,000 after buying an additional 20,212 shares during the period. Hedge funds and other institutional investors own 28.60% of the company’s stock.

Shell Trading Down 1.9 %

Shares of SHEL stock opened at $65.57 on Wednesday. The firm has a market cap of $204.06 billion, a P/E ratio of 13.49, a PEG ratio of 2.01 and a beta of 0.56. Shell plc has a 1-year low of $60.34 and a 1-year 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. The firm’s 50-day simple moving average is $67.47 and its 200-day simple moving average is $70.27.

Shell Announces Dividend

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

Analyst Ratings Changes

Several brokerages have issued reports on SHEL. Wells Fargo & Company boosted their price objective on shares of Shell from $84.00 to $88.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Scotiabank lowered their price target on shares of Shell from $90.00 to $80.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Sanford C. Bernstein raised shares of Shell to a “strong-buy” rating in a research note on Friday, October 11th. Barclays raised shares of Shell to a “strong-buy” rating in a research note on Wednesday, October 2nd. Finally, Wolfe Research started coverage on shares of Shell in a research note on Thursday, July 18th. They issued a “peer perform” rating on the stock. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, Shell presently has a consensus rating of “Buy” and a consensus target price of $82.00.

About Shell

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.