Shell plc (NYSE:SHEL) Shares Sold by Logan Capital Management Inc.

Logan Capital Management Inc. lowered its holdings in Shell plc (NYSE:SHEL) by 2.5% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 256,060 shares of the energy company’s stock after selling 6,595 shares during the period. Logan Capital Management Inc.’s holdings in Shell were worth $16,887,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in SHEL. Hobbs Group Advisors LLC bought a new position in Shell in the 2nd quarter worth about $26,000. Fortitude Family Office LLC bought a new position in Shell in the 3rd quarter worth approximately $30,000. Triad Wealth Partners LLC bought a new stake in Shell during the 2nd quarter valued at $31,000. Fairscale Capital LLC bought a new position in shares of Shell in the second quarter worth $33,000. Finally, Valley Wealth Managers Inc. acquired a new position in shares of Shell during the third quarter valued at $33,000. 28.60% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on SHEL. Wells Fargo & Company lowered their target price on shares of Shell from $88.00 to $87.00 and set an “overweight” rating on the stock in a research note on Monday. Sanford C. Bernstein upgraded Shell to a “strong-buy” rating in a research report on Friday, October 11th. Citigroup raised Shell to a “hold” rating in a research note on Wednesday, October 2nd. Scotiabank lowered their target price on Shell from $90.00 to $80.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Finally, Barclays upgraded shares of Shell to a “strong-buy” rating in a research report on Wednesday, October 2nd. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $81.75.

Shell Stock Performance

SHEL traded down $0.34 during trading on Friday, hitting $63.66. The stock had a trading volume of 474,545 shares, compared to its average volume of 4,187,545. The firm has a market cap of $197.06 billion, a PE ratio of 13.14, a P/E/G ratio of 4.92 and a beta of 0.55. The company has a 50 day simple moving average of $66.33 and a 200-day simple moving average of $69.18. Shell plc has a 12 month low of $60.34 and a 12 month high of $74.61. The company has a current ratio of 1.40, a quick ratio of 1.13 and a debt-to-equity ratio of 0.34.

Shell Announces Dividend

The company also recently announced 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 4.32%. The ex-dividend date of this dividend is Friday, November 15th. Shell’s dividend payout ratio (DPR) is presently 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.