Drive Wealth Management LLC Sells 192 Shares of Shell plc (NYSE:SHEL)

Drive Wealth Management LLC lessened its holdings in Shell plc (NYSE:SHEL) by 2.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,797 shares of the energy company’s stock after selling 192 shares during the quarter. Drive Wealth Management LLC’s holdings in Shell were worth $448,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. First Horizon Advisors Inc. grew its holdings in shares of Shell by 1.3% in the 2nd quarter. First Horizon Advisors Inc. now owns 11,097 shares of the energy company’s stock valued at $801,000 after buying an additional 142 shares during the period. Lester Murray Antman dba SimplyRich raised its holdings in shares of Shell by 0.6% in the 2nd quarter. Lester Murray Antman dba SimplyRich now owns 26,901 shares of the energy company’s stock valued at $1,941,000 after purchasing an additional 158 shares during the period. Procyon Advisors LLC increased its holdings in shares of Shell by 3.2% during the 3rd quarter. Procyon Advisors LLC now owns 5,074 shares of the energy company’s stock worth $335,000 after acquiring an additional 159 shares during the last quarter. Sax Wealth Advisors LLC raised its position in shares of Shell by 4.1% in the second quarter. Sax Wealth Advisors LLC now owns 4,086 shares of the energy company’s stock valued at $295,000 after purchasing an additional 162 shares during the period. Finally, GHP Investment Advisors Inc. lifted its position in Shell by 40.8% during the third quarter. GHP Investment Advisors Inc. now owns 563 shares of the energy company’s stock worth $37,000 after acquiring an additional 163 shares during the last quarter. Institutional investors and hedge funds own 28.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Citigroup upgraded Shell to a “hold” rating in a research note on Wednesday, October 2nd. Royal Bank of Canada raised Shell to a “moderate buy” rating in a report on Tuesday, July 30th. Wells Fargo & Company upped their price target on shares of Shell from $84.00 to $88.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Scotiabank dropped their price objective on shares of Shell from $90.00 to $80.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Finally, Sanford C. Bernstein raised shares of Shell to a “strong-buy” rating in a report on Friday, October 11th. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, Shell currently has an average rating of “Buy” and a consensus target price of $82.00.

Shell Price Performance

Shell stock opened at $65.47 on Monday. 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 market capitalization of $203.75 billion, a P/E ratio of 13.47, a price-to-earnings-growth ratio of 1.97 and a beta of 0.56. Shell plc has a 52 week low of $60.34 and a 52 week high of $74.61. The stock has a fifty day moving average of $67.33 and a 200-day moving average of $70.14.

Shell Announces Dividend

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 issued a dividend of $0.688 per share. The ex-dividend date is Friday, November 15th. This represents a $2.75 annualized dividend and a dividend yield of 4.20%. Shell’s dividend payout ratio (DPR) is presently 56.58%.

Shell 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.