Chevy Chase Trust Holdings LLC Sells 26,321 Shares of Shell plc (NYSE:SHEL)

Chevy Chase Trust Holdings LLC lessened its stake in shares of Shell plc (NYSE:SHEL) by 1.4% in the third quarter, Holdings Channel reports. The institutional investor owned 1,814,369 shares of the energy company’s stock after selling 26,321 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Shell were worth $119,658,000 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 the company. Benjamin Edwards Inc. purchased a new stake in shares of Shell in the third quarter worth $671,000. Encompass More Asset Management raised its holdings in shares of Shell by 81.4% in the 3rd quarter. Encompass More Asset Management now owns 7,294 shares of the energy company’s stock valued at $481,000 after acquiring an additional 3,273 shares in the last quarter. Verition Fund Management LLC boosted its position in shares of Shell by 18.5% during the 3rd quarter. Verition Fund Management LLC now owns 716,753 shares of the energy company’s stock valued at $47,270,000 after acquiring an additional 112,029 shares during the last quarter. Icon Wealth Advisors LLC increased its position in shares of Shell by 40.7% in the third quarter. Icon Wealth Advisors LLC now owns 4,865 shares of the energy company’s stock worth $321,000 after purchasing an additional 1,408 shares during the last quarter. Finally, Rockefeller Capital Management L.P. lifted its position in Shell by 1.5% during the third quarter. Rockefeller Capital Management L.P. now owns 3,125,284 shares of the energy company’s stock valued at $206,116,000 after purchasing an additional 46,293 shares during the last quarter. 28.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on SHEL. Barclays upgraded shares of Shell to a “strong-buy” rating in a research report on Wednesday, October 2nd. Scotiabank dropped their price target on Shell from $90.00 to $80.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Berenberg Bank upgraded Shell to a “strong-buy” rating in a research report on Monday, August 5th. Citigroup upgraded Shell to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Sanford C. Bernstein raised shares of Shell to a “strong-buy” rating in a research note on Friday, October 11th. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $82.00.

Shell Trading Down 0.3 %

Shares of NYSE SHEL opened at $64.74 on Monday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.40 and a quick ratio of 1.13. The stock has a market cap of $200.40 billion, a P/E ratio of 13.32, a price-to-earnings-growth ratio of 1.94 and a beta of 0.56. The firm has a 50-day moving average of $66.89 and a 200 day moving average of $69.58. Shell plc has a 1 year low of $60.34 and a 1 year high of $74.61.

Shell Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, November 15th will be paid a $0.688 dividend. This represents a $2.75 dividend on an annualized basis and a yield of 4.25%. The ex-dividend date of this dividend is Friday, November 15th. Shell’s payout ratio is 56.58%.

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.