New England Asset Management Inc. has decreased its holdings in energy company Shell plc (SHEL:NYE) by 6.8% during the third quarter, according to its latest 13F filing with the Securities & Exchange Commission. The institutional investor sold 4,100 shares of Shell stock, bringing its total ownership to 56,285 shares worth $2,801,000 at the end of the quarter. Other major investors have also made adjustments to their holdings, including Park Avenue Securities LLC, Welch Group LLC, Apollon Wealth Management LLC, Wiley BROS. Aintree Capital LLC, and CWM LLC. Currently, institutional investors own 7.74% of the company’s stock.
Shell Stock Price Performance:
Shares of Shell stock traded at $60.16 during mid-day trading on Tuesday with a trading volume of 1,508,621 shares. The company has a market cap of $216.41 billion, a P/E ratio of 5.31, and a beta of 0.68. Its 50-day simple moving average is $58.35 and its 200-day simple moving average is $55.40. Shell’s 12-month low is $44.90, and its 12-month high is $62.75.
Shell Stock Dividend:
Shell recently declared a quarterly dividend, which is set to be paid on March 27th to shareholders of record as of February 17th. The dividend payout has been increased to $0.575 per share, up from the previous quarterly dividend of $0.50. This represents an annualized dividend payout of $2.30 and a yield of 3.82%. Shell’s dividend payout ratio is currently 20.14%.
Several research firms have provided their ratings on Shell, with Deutsche Bank Aktiengesellschaft raising its price target for Shell stock from GBX 2,761 ($33.25) to GBX 2,987 ($35.97), while The Goldman Sachs Group downgraded the company from a “buy” rating to a “neutral” rating. Other firms include Wolfe Research, Morgan Stanley, and JPMorgan Chase & Co. According to Stock Target Advisor, Shell stock currently has a consensus rating of “Buy” and a consensus target price of $71.52.
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.
The company was formerly known as Royal Dutch Shell plc and changed its name to Shell plc in January 2022. Shell plc was founded in 1907 and is headquartered in London, the United Kingdom.