Citigroup Inc. Has $18.66 Million Stock Position in Shell plc (NYSE:SHEL)

Citigroup Inc. trimmed its position in Shell plc (NYSE:SHEL) by 1.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 282,938 shares of the energy company’s stock after selling 5,450 shares during the quarter. Citigroup Inc.’s holdings in Shell were worth $18,660,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. NorthCrest Asset Manangement LLC boosted its position in shares of Shell by 6.4% in the third quarter. NorthCrest Asset Manangement LLC now owns 3,741 shares of the energy company’s stock worth $247,000 after buying an additional 225 shares during the period. Lazard Asset Management LLC boosted its holdings in Shell by 21.0% in 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 in the last quarter. Creative Planning raised its stake in shares of Shell by 11.3% in the 2nd quarter. Creative Planning now owns 292,587 shares of the energy company’s stock valued at $21,119,000 after acquiring an additional 29,677 shares in the last quarter. Raymond James & Associates boosted its position in Shell by 65.7% during the second quarter. Raymond James & Associates now owns 1,698,247 shares of the energy company’s stock worth $122,579,000 after purchasing an additional 673,624 shares during the period. Finally, Foresight Global Investors Inc. bought a new position in shares of Shell in the second quarter valued at approximately $1,472,000. 28.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Barclays upgraded shares of Shell to a “strong-buy” rating in a report on Wednesday, October 2nd. Wells Fargo & Company raised their price objective on shares of Shell from $84.00 to $88.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Berenberg Bank upgraded shares of Shell to a “strong-buy” rating in a research report on Monday, August 5th. Royal Bank of Canada upgraded Shell to a “moderate buy” rating in a research note on Tuesday, July 30th. Finally, Citigroup raised Shell to a “hold” rating in a report on Wednesday, October 2nd. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, Shell has an average rating of “Buy” and a consensus price target of $82.00.

Shell Stock Performance

Shares of SHEL opened at $64.79 on Wednesday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.40 and a quick ratio of 1.13. The firm has a 50-day moving average of $67.19 and a 200-day moving average of $69.84. The company has a market cap of $200.54 billion, a PE ratio of 13.39, a price-to-earnings-growth ratio of 1.98 and a beta of 0.56. Shell plc has a one year low of $60.34 and a one year high of $74.61.

Shell Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, November 15th will be issued a $0.688 dividend. This represents a $2.75 dividend on an annualized basis and a yield of 4.25%. The ex-dividend date is Friday, November 15th. Shell’s dividend payout ratio is 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.