Concentric Wealth Management LLC Cuts Stake in Shell plc (NYSE:SHEL)

Concentric Wealth Management LLC decreased its holdings in shares of Shell plc (NYSE:SHEL) by 0.3% during the third quarter, according to its most recent filing with the SEC. The firm owned 55,991 shares of the energy company’s stock after selling 180 shares during the period. Concentric Wealth Management LLC’s holdings in Shell were worth $3,693,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Fisher Asset Management LLC grew its holdings in Shell by 2.1% in the third quarter. Fisher Asset Management LLC now owns 24,530,647 shares of the energy company’s stock worth $1,617,796,000 after purchasing an additional 507,311 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Shell by 0.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 22,722,317 shares of the energy company’s stock valued at $1,640,082,000 after buying an additional 96,549 shares in the last quarter. Mawer Investment Management Ltd. boosted its holdings in Shell by 8.7% in the third quarter. Mawer Investment Management Ltd. now owns 5,282,868 shares of the energy company’s stock worth $348,405,000 after acquiring an additional 422,329 shares in the last quarter. Jennison Associates LLC grew its stake in shares of Shell by 188.0% during the third 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. Finally, Westwood Global Investments LLC raised its position in shares of Shell by 4.1% in the 2nd quarter. Westwood Global Investments LLC now owns 2,546,523 shares of the energy company’s stock valued at $183,808,000 after purchasing an additional 100,379 shares during the last quarter. 28.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Sanford C. Bernstein raised shares of Shell to a “strong-buy” rating in a report on Friday, October 11th. Wells Fargo & Company lifted their price target on Shell from $84.00 to $88.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Scotiabank cut their price objective on Shell from $90.00 to $80.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Berenberg Bank upgraded Shell to a “strong-buy” rating in a research report on Monday, August 5th. Finally, Royal Bank of Canada raised shares of Shell to a “moderate buy” rating in a research report on Tuesday, July 30th. Three 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $82.00.

Shell Stock Down 0.4 %

SHEL opened at $66.03 on Monday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.13 and a current ratio of 1.40. Shell plc has a fifty-two week low of $60.34 and a fifty-two week high of $74.61. The company has a fifty day moving average of $67.25 and a two-hundred day moving average of $69.92. The stock has a market capitalization of $204.39 billion, a price-to-earnings ratio of 13.59, a PEG ratio of 1.98 and a beta of 0.56.

Shell Announces Dividend

The firm 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. This represents a $2.75 annualized dividend and a dividend yield of 4.17%. The ex-dividend date is Friday, November 15th. Shell’s payout ratio is 56.58%.

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.