Oppenheimer Asset Management Inc. Sells 21,151 Shares of Shell plc (NYSE:SHEL)

Oppenheimer Asset Management Inc. cut its position in Shell plc (NYSE:SHEL) by 9.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 201,902 shares of the energy company’s stock after selling 21,151 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Shell were worth $13,315,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Pinnacle Financial Partners Inc raised its position in Shell by 0.3% in the third quarter. Pinnacle Financial Partners Inc now owns 143,679 shares of the energy company’s stock valued at $9,476,000 after purchasing an additional 481 shares during the last quarter. Rakuten Securities Inc. raised its position in shares of Shell by 567.0% during the third quarter. Rakuten Securities Inc. now owns 627 shares of the energy company’s stock worth $41,000 after acquiring an additional 533 shares during the last quarter. Apollon Wealth Management LLC raised its position in shares of Shell by 14.4% during the third quarter. Apollon Wealth Management LLC now owns 22,030 shares of the energy company’s stock worth $1,453,000 after acquiring an additional 2,766 shares during the last quarter. Nations Financial Group Inc. IA ADV raised its position in shares of Shell by 8.3% during the third quarter. Nations Financial Group Inc. IA ADV now owns 3,209 shares of the energy company’s stock worth $212,000 after acquiring an additional 247 shares during the last quarter. Finally, Peregrine Asset Advisers Inc. raised its position in shares of Shell by 19.8% during the third quarter. Peregrine Asset Advisers Inc. now owns 6,819 shares of the energy company’s stock worth $450,000 after acquiring an additional 1,125 shares during the last quarter. 28.60% of the stock is currently owned by institutional investors.

Shell Trading Down 0.1 %

Shares of Shell stock opened at $65.49 on Thursday. 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 52 week low of $60.34 and a 52 week high of $74.61. The stock has a 50 day moving average price of $67.41 and a two-hundred day moving average price of $70.23. The stock has a market capitalization of $203.81 billion, a PE ratio of 13.48, a price-to-earnings-growth ratio of 1.98 and a beta of 0.56.

Shell Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, November 15th will be paid a $0.688 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.75 dividend on an annualized basis and a yield of 4.20%. Shell’s dividend payout ratio (DPR) is presently 56.58%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Royal Bank of Canada upgraded Shell to a “moderate buy” rating in a research report on Tuesday, July 30th. Barclays upgraded Shell to a “strong-buy” rating in a research report on Wednesday, October 2nd. Wells Fargo & Company raised their price objective on Shell from $84.00 to $88.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Wolfe Research started coverage on Shell in a research note on Thursday, July 18th. They set a “peer perform” rating for the company. Finally, Citigroup raised Shell to a “hold” rating in a research note on Wednesday, October 2nd. Three research analysts have rated the stock with a hold rating, four have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average 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.