Shell plc (NYSE:SHEL) Shares Sold by King Luther Capital Management Corp

King Luther Capital Management Corp decreased its position in shares of Shell plc (NYSE:SHEL) by 1.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,397 shares of the energy company’s stock after selling 435 shares during the quarter. King Luther Capital Management Corp’s holdings in Shell were worth $1,543,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Hobbs Group Advisors LLC acquired a new stake in shares of Shell during the 2nd quarter worth approximately $26,000. Fortitude Family Office LLC purchased a new stake in Shell in the third quarter valued at $30,000. Triad Wealth Partners LLC purchased a new position in shares of Shell during the 2nd quarter worth $31,000. Fairscale Capital LLC acquired a new stake in shares of Shell during the 2nd quarter worth about $33,000. Finally, Valley Wealth Managers Inc. acquired a new position in Shell in the third quarter valued at about $33,000. Hedge funds and other institutional investors own 28.60% of the company’s stock.

Shell Stock Performance

Shares of SHEL opened at $66.03 on Friday. The stock has a 50-day simple moving average of $67.28 and a 200-day simple moving average of $69.99. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.13 and a current ratio of 1.40. Shell plc has a 1 year low of $60.34 and a 1 year high of $74.61. The stock has a market capitalization of $204.39 billion, a PE ratio of 13.59, a PEG ratio of 1.97 and a beta of 0.56.

Shell Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.688 per share. This represents a $2.75 annualized dividend and a yield of 4.17%. The ex-dividend date of this dividend is Friday, November 15th. Shell’s dividend payout ratio (DPR) is presently 56.58%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on SHEL. Barclays raised shares of Shell to a “strong-buy” rating in a research note on Wednesday, October 2nd. Royal Bank of Canada upgraded Shell to a “moderate buy” rating in a research report on Tuesday, July 30th. Sanford C. Bernstein upgraded Shell to a “strong-buy” rating in a report on Friday, October 11th. Citigroup raised Shell to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Scotiabank lowered 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. Three analysts have rated the stock with a hold rating, four have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, Shell presently has a consensus rating of “Buy” and an average target price of $82.00.

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.