Citigroup Inc. Sells 5,450 Shares of Shell plc (NYSE:SHEL)

Citigroup Inc. trimmed its holdings in shares of Shell plc (NYSE:SHEL) by 1.9% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 282,938 shares of the energy company’s stock after selling 5,450 shares during the period. Citigroup Inc.’s holdings in Shell were worth $18,660,000 as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. Hobbs Group Advisors LLC bought a new stake in Shell during the second quarter worth $26,000. Triad Wealth Partners LLC purchased a new stake in shares of Shell during the 2nd quarter valued at $31,000. Fairscale Capital LLC purchased a new position in shares of Shell during the 2nd quarter valued at about $33,000. Fortitude Family Office LLC purchased a new stake in Shell during the third quarter valued at about $30,000. Finally, Valley Wealth Managers Inc. bought a new stake in Shell in the third quarter valued at approximately $33,000. 28.60% of the stock is currently owned by institutional investors and hedge funds.

Shell Stock Down 0.4 %

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

Shell Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, November 15th will be issued a $0.688 dividend. This represents a $2.75 annualized dividend and a dividend yield of 4.25%. The ex-dividend date is Friday, November 15th. Shell’s payout ratio is currently 56.58%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on SHEL. Royal Bank of Canada upgraded Shell to a “moderate buy” rating in a report on Tuesday, July 30th. Scotiabank decreased their target price 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. Citigroup raised Shell to a “hold” rating in a research report on Wednesday, October 2nd. Barclays raised shares of Shell to a “strong-buy” rating in a research report on Wednesday, October 2nd. Finally, Sanford C. Bernstein upgraded shares of Shell to a “strong-buy” rating in a report on Friday, October 11th. Three research 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. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $82.00.

Shell Company 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.