Ingalls & Snyder LLC Decreases Position in Shell plc (NYSE:SHEL)

Ingalls & Snyder LLC lowered its stake in shares of Shell plc (NYSE:SHEL) by 25.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 11,393 shares of the energy company’s stock after selling 3,850 shares during the quarter. Ingalls & Snyder LLC’s holdings in Shell were worth $751,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of SHEL. Hobbs Group Advisors LLC purchased a new stake in shares of Shell in the second quarter valued at $26,000. Fortitude Family Office LLC purchased a new stake in Shell in the 3rd quarter worth about $30,000. Triad Wealth Partners LLC bought a new stake in Shell in the second quarter worth about $31,000. Fairscale Capital LLC purchased a new position in shares of Shell during the second quarter valued at approximately $33,000. Finally, Valley Wealth Managers Inc. purchased a new stake in shares of Shell in the third quarter worth approximately $33,000. 28.60% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Wells Fargo & Company upped their price objective on Shell from $84.00 to $88.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Barclays upgraded shares of Shell to a “strong-buy” rating in a report on Wednesday, October 2nd. Citigroup upgraded shares of Shell to a “hold” rating in a research note on Wednesday, October 2nd. Sanford C. Bernstein upgraded Shell to a “strong-buy” rating in a report on Friday, October 11th. Finally, Scotiabank reduced 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. Three research analysts have rated the stock with a hold rating, four have given 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 $82.00.

Shell Stock Performance

Shares of NYSE:SHEL opened at $65.28 on Wednesday. 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 company has a market capitalization of $202.07 billion, a price-to-earnings ratio of 13.43, a price-to-earnings-growth ratio of 1.93 and a beta of 0.55. The firm has a 50 day moving average of $66.71 and a 200 day moving average of $69.48. 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 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 yield of 4.22%. The ex-dividend date of this dividend is Friday, November 15th. Shell’s payout ratio is currently 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.