Van ECK Associates Corp Sells 27,379 Shares of Shell plc (NYSE:SHEL)

Van ECK Associates Corp cut its position in Shell plc (NYSE:SHEL) by 2.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,363,109 shares of the energy company’s stock after selling 27,379 shares during the quarter. Van ECK Associates Corp’s holdings in Shell were worth $90,688,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the business. NorthCrest Asset Manangement LLC lifted its stake in shares of Shell by 6.4% in the 3rd quarter. NorthCrest Asset Manangement LLC now owns 3,741 shares of the energy company’s stock valued at $247,000 after acquiring an additional 225 shares during the last quarter. Lazard Asset Management LLC grew its stake 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 purchasing an additional 7,779 shares during the period. Creative Planning grew its position in shares of Shell by 11.3% during the 2nd quarter. Creative Planning now owns 292,587 shares of the energy company’s stock worth $21,119,000 after buying an additional 29,677 shares during the period. Raymond James & Associates raised its holdings in shares of Shell by 65.7% during the second quarter. Raymond James & Associates now owns 1,698,247 shares of the energy company’s stock valued at $122,579,000 after purchasing an additional 673,624 shares during the period. Finally, Foresight Global Investors Inc. acquired a new position in Shell during the 2nd quarter worth approximately $1,472,000. Institutional investors own 28.60% of the company’s stock.

Shell Stock Performance

Shares of SHEL opened at $67.49 on Monday. Shell plc has a 12 month low of $60.34 and a 12 month high of $74.61. The business’s fifty day simple moving average is $68.08 and its two-hundred day simple moving average is $70.52. The company has a current ratio of 1.41, a quick ratio of 1.12 and a debt-to-equity ratio of 0.35. The company has a market cap of $210.04 billion, a price-to-earnings ratio of 13.89, a P/E/G ratio of 1.86 and a beta of 0.56.

Shell (NYSE:SHEL) last announced its earnings results on Thursday, August 1st. The energy company reported $1.97 EPS for the quarter, topping analysts’ consensus estimates of $1.82 by $0.15. The company had revenue of $75.06 billion for the quarter, compared to analysts’ expectations of $88.62 billion. Shell had a return on equity of 14.57% and a net margin of 5.17%. During the same period last year, the firm earned $1.50 EPS. Research analysts anticipate that Shell plc will post 8.45 earnings per share for the current fiscal year.

Shell Announces Dividend

The firm 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. 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 4.08%. Shell’s dividend payout ratio is presently 56.58%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Citigroup upgraded shares of Shell to a “hold” rating in a report on Wednesday, October 2nd. Royal Bank of Canada upgraded shares of Shell to a “moderate buy” rating in a research note on Tuesday, July 30th. Berenberg Bank raised Shell to a “strong-buy” rating in a report on Monday, August 5th. Barclays raised Shell to a “strong-buy” rating in a research report on Wednesday, October 2nd. Finally, Wolfe Research initiated coverage on shares of Shell in a research note on Thursday, July 18th. They set a “peer perform” rating for the company. Three investment 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 data from MarketBeat, Shell has a consensus rating of “Buy” and an average price target of $82.00.

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.