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

Oppenheimer Asset Management Inc. lessened its stake in Shell plc (NYSE:SHEL) by 9.5% during the third quarter, Holdings Channel reports. The firm owned 201,902 shares of the energy company’s stock after selling 21,151 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Shell were worth $13,315,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of SHEL. NorthCrest Asset Manangement LLC lifted its holdings in Shell by 6.4% during the third quarter. NorthCrest Asset Manangement LLC now owns 3,741 shares of the energy company’s stock worth $247,000 after acquiring an additional 225 shares during the period. Lazard Asset Management LLC lifted its holdings in Shell by 21.0% during the first quarter. Lazard Asset Management LLC now owns 44,896 shares of the energy company’s stock worth $3,009,000 after acquiring an additional 7,779 shares during the period. Creative Planning lifted its holdings in Shell by 11.3% during the second quarter. Creative Planning now owns 292,587 shares of the energy company’s stock worth $21,119,000 after acquiring an additional 29,677 shares during the period. Raymond James & Associates lifted its holdings in Shell by 65.7% during the second quarter. Raymond James & Associates now owns 1,698,247 shares of the energy company’s stock worth $122,579,000 after acquiring an additional 673,624 shares during the period. Finally, Foresight Global Investors Inc. bought a new stake in Shell during the second quarter worth $1,472,000. Institutional investors own 28.60% of the company’s stock.

Shell Price Performance

Shares of NYSE SHEL opened at $65.49 on Thursday. The stock has a market cap 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 plc has a fifty-two week low of $60.34 and a fifty-two week high of $74.61. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.13 and a current ratio of 1.40. The stock has a fifty day moving average of $67.41 and a 200-day moving average of $70.23.

Shell Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of analysts recently commented on SHEL shares. Wells Fargo & Company lifted their price target on Shell from $84.00 to $88.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Wolfe Research initiated coverage on Shell in a research note on Thursday, July 18th. They issued a “peer perform” rating on the stock. Citigroup upgraded Shell to a “hold” rating in a research note on Wednesday, October 2nd. Sanford C. Bernstein upgraded Shell to a “strong-buy” rating in a research note on Friday, October 11th. Finally, Royal Bank of Canada upgraded Shell to a “moderate buy” rating in a research note on Tuesday, July 30th. Three 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’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $82.00.

Shell Company 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.