Lord Abbett & CO. LLC Sells 168,057 Shares of Shell plc (NYSE:SHEL)

Lord Abbett & CO. LLC trimmed its holdings in shares of Shell plc (NYSE:SHEL) by 5.5% in the third quarter, HoldingsChannel.com reports. The fund owned 2,893,604 shares of the energy company’s stock after selling 168,057 shares during the period. Lord Abbett & CO. LLC’s holdings in Shell were worth $190,833,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of SHEL. Triad Wealth Partners LLC bought a new position in Shell during the second quarter valued at about $31,000. Coronation Fund Managers Ltd. increased its stake in shares of Shell by 7.6% during the 2nd quarter. Coronation Fund Managers Ltd. now owns 15,201 shares of the energy company’s stock worth $1,097,000 after purchasing an additional 1,068 shares during the last quarter. Raymond James & Associates raised its holdings in shares of Shell by 65.7% in the 2nd quarter. Raymond James & Associates now owns 1,698,247 shares of the energy company’s stock worth $122,579,000 after purchasing an additional 673,624 shares during the period. Garrett Wealth Advisory Group LLC purchased a new position in Shell in the second quarter valued at approximately $954,000. Finally, Nisa Investment Advisors LLC increased its position in Shell by 218.4% in the second quarter. Nisa Investment Advisors LLC now owns 1,939 shares of the energy company’s stock worth $140,000 after buying an additional 1,330 shares during the last quarter. 28.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

SHEL has been the subject of several research reports. Scotiabank cut 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. Wells Fargo & Company cut their target price on shares of Shell from $88.00 to $87.00 and set an “overweight” rating for the company in a research report on Monday, December 9th. Sanford C. Bernstein upgraded shares of Shell to a “strong-buy” rating in a research note on Friday, October 11th. Citigroup upgraded shares of Shell to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Barclays upgraded Shell to a “strong-buy” rating in a research report on Wednesday, October 2nd. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, Shell presently has a consensus rating of “Buy” and a consensus target price of $81.75.

Shell Stock Down 0.7 %

Shares of NYSE:SHEL opened at $63.53 on Friday. The firm has a fifty day moving average price of $66.23 and a two-hundred day moving average price of $69.13. The company has a market cap of $196.65 billion, a price-to-earnings ratio of 13.07, a PEG ratio of 4.92 and a beta of 0.55. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.40 and a quick ratio of 1.13. Shell plc has a one year low of $60.34 and a one year high of $74.61.

Shell Announces Dividend

The firm also recently announced 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 4.33%. Shell’s dividend payout ratio is currently 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.