Wellington Management Group LLP Reduces Holdings in Shell plc (NYSE:SHEL)

Wellington Management Group LLP reduced its position in Shell plc (NYSE:SHEL) by 4.8% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 7,744,112 shares of the energy company’s stock after selling 390,678 shares during the period. Wellington Management Group LLP owned 0.25% of Shell worth $510,724,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Hobbs Group Advisors LLC purchased a new position in Shell in the 2nd quarter valued at $26,000. Fortitude Family Office LLC acquired a new position in shares of Shell during the 3rd quarter worth $30,000. Triad Wealth Partners LLC acquired a new stake in shares of Shell in the second quarter valued at about $31,000. Fairscale Capital LLC acquired a new position in Shell during the second quarter worth about $33,000. Finally, Valley Wealth Managers Inc. acquired a new stake in shares of Shell during the 3rd quarter valued at approximately $33,000. 28.60% of the stock is owned by institutional investors and hedge funds.

Shell Trading Down 1.7 %

SHEL stock opened at $63.25 on Friday. Shell plc has a 52 week low of $60.34 and a 52 week high of $74.61. The company has a market cap of $195.79 billion, a price-to-earnings ratio of 13.01, a PEG ratio of 1.93 and a beta of 0.55. 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 business has a fifty day simple moving average of $66.56 and a 200-day simple moving average of $69.35.

Shell Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.688 per share. This represents a $2.75 dividend on an annualized basis and a dividend yield of 4.35%. The ex-dividend date is Friday, November 15th. Shell’s payout ratio is currently 56.58%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on SHEL shares. Wells Fargo & Company lifted their price objective on Shell from $84.00 to $88.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. 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 report on Wednesday, October 2nd. Citigroup upgraded Shell to a “hold” rating in a research report on Wednesday, October 2nd. 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 research report on Thursday, October 10th. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average 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.