Hotchkis & Wiley Capital Management LLC Sells 139,757 Shares of Shell plc (NYSE:SHEL)

Hotchkis & Wiley Capital Management LLC lowered its position in Shell plc (NYSE:SHEL) by 2.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,910,194 shares of the energy company’s stock after selling 139,757 shares during the period. Shell makes up about 1.5% of Hotchkis & Wiley Capital Management LLC’s portfolio, making the stock its 23rd largest position. Hotchkis & Wiley Capital Management LLC owned approximately 0.22% of Shell worth $455,727,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of SHEL. Hobbs Group Advisors LLC acquired a new position in shares of Shell in the 2nd quarter valued at $26,000. Fortitude Family Office LLC acquired a new stake in Shell in the third quarter valued at about $30,000. Triad Wealth Partners LLC acquired a new position in shares of Shell during the 2nd quarter worth $31,000. Fairscale Capital LLC purchased a new stake in shares of Shell in the second quarter valued at $33,000. Finally, Valley Wealth Managers Inc. acquired a new stake in shares of Shell during the third quarter worth $33,000. Institutional investors and hedge funds own 28.60% of the company’s stock.

Wall Street Analyst Weigh In

SHEL has been the subject of several research reports. Sanford C. Bernstein upgraded Shell to a “strong-buy” rating in a research report on Friday, October 11th. Barclays upgraded shares of Shell to a “strong-buy” rating in a research note on Wednesday, October 2nd. Berenberg Bank raised shares of Shell to a “strong-buy” rating in a research note on Monday, August 5th. Citigroup raised shares of Shell to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Wells Fargo & Company lifted their price objective on shares of Shell from $84.00 to $88.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Three investment 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 company’s stock. According to MarketBeat, Shell presently has a consensus rating of “Buy” and a consensus target price of $82.00.

Shell Trading Down 0.7 %

Shares of SHEL opened at $64.31 on Tuesday. The company has a current ratio of 1.40, a quick ratio of 1.13 and a debt-to-equity ratio of 0.34. The company’s fifty day simple moving average is $66.79 and its 200-day simple moving average is $69.53. Shell plc has a twelve month low of $60.34 and a twelve month high of $74.61. The company has a market cap of $199.07 billion, a P/E ratio of 13.23, a P/E/G ratio of 1.94 and a beta of 0.55.

Shell Dividend Announcement

The company also recently disclosed 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. This represents a $2.75 annualized dividend and a yield of 4.28%. The ex-dividend date of this dividend is Friday, November 15th. Shell’s payout ratio is 56.58%.

Shell 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.