Elevated Capital Advisors LLC Sells 553 Shares of Shell plc (NYSE:SHEL)

Elevated Capital Advisors LLC cut its holdings in shares of Shell plc (NYSE:SHEL) by 6.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 8,706 shares of the energy company’s stock after selling 553 shares during the quarter. Elevated Capital Advisors LLC’s holdings in Shell were worth $545,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Coronation Fund Managers Ltd. increased its position in shares of Shell by 7.6% during the second quarter. Coronation Fund Managers Ltd. now owns 15,201 shares of the energy company’s stock valued at $1,097,000 after purchasing an additional 1,068 shares during the period. Rhumbline Advisers raised its stake in shares of Shell by 9.8% in the 2nd quarter. Rhumbline Advisers now owns 35,107 shares of the energy company’s stock valued at $2,534,000 after buying an additional 3,143 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Shell by 7.3% during the 2nd quarter. American Century Companies Inc. now owns 787,069 shares of the energy company’s stock worth $56,811,000 after acquiring an additional 53,209 shares during the period. Envestnet Asset Management Inc. increased its stake in Shell by 6.4% in the second quarter. Envestnet Asset Management Inc. now owns 2,248,366 shares of the energy company’s stock valued at $162,287,000 after acquiring an additional 136,139 shares during the period. Finally, J.W. Cole Advisors Inc. raised its position in Shell by 7.4% in the second quarter. J.W. Cole Advisors Inc. now owns 12,861 shares of the energy company’s stock worth $928,000 after purchasing an additional 887 shares in the last quarter. Institutional investors and hedge funds own 28.60% of the company’s stock.

Shell Price Performance

Shell stock opened at $64.99 on Tuesday. The stock has a market cap of $199.99 billion, a price-to-earnings ratio of 13.37, a P/E/G ratio of 4.84 and a beta of 0.55. Shell plc has a 12-month low of $60.15 and a 12-month high of $74.61. The company has a quick ratio of 1.13, a current ratio of 1.40 and a debt-to-equity ratio of 0.34. The business’s 50-day simple moving average is $64.32 and its 200 day simple moving average is $67.96.

Shell Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Friday, November 15th were paid a dividend of $0.688 per share. This represents a $2.75 dividend on an annualized basis and a dividend yield of 4.23%. The ex-dividend date was Friday, November 15th. Shell’s dividend payout ratio (DPR) is 56.58%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Sanford C. Bernstein raised Shell to a “strong-buy” rating in a report on Friday, October 11th. Wells Fargo & Company dropped their price objective on Shell from $87.00 to $86.00 and set an “overweight” rating for the company in a research note on Friday. Citigroup raised shares of Shell to a “hold” rating in a report on Wednesday, October 2nd. Barclays upgraded shares of Shell to a “strong-buy” rating in a research report on Wednesday, October 2nd. Finally, Morgan Stanley upgraded Shell from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $66.50 to $79.80 in a research report on Tuesday, January 7th. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $79.69.

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.