Moors & Cabot Inc. Has $2.37 Million Stock Position in Shell plc (NYSE:SHEL)

Moors & Cabot Inc. lowered its stake in shares of Shell plc (NYSE:SHEL) by 1.8% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 39,230 shares of the energy company’s stock after selling 704 shares during the quarter. Moors & Cabot Inc.’s holdings in Shell were worth $2,369,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of SHEL. McClarren Financial Advisors Inc. bought a new stake in shares of Shell in the 2nd quarter worth approximately $30,000. America First Investment Advisors LLC bought a new position in shares of Shell during the first quarter valued at about $32,000. Venturi Wealth Management LLC bought a new stake in shares of Shell in the first quarter worth about $32,000. Nelson Van Denburg & Campbell Wealth Management Group LLC purchased a new position in shares of Shell during the first quarter valued at approximately $41,000. Finally, Larson Financial Group LLC raised its holdings in shares of Shell by 50.2% during the first quarter. Larson Financial Group LLC now owns 739 shares of the energy company’s stock valued at $43,000 after acquiring an additional 247 shares in the last quarter. Institutional investors own 9.23% of the company’s stock.

Shell Stock Down 1.9 %

SHEL stock traded down $1.27 during midday trading on Thursday, hitting $64.68. The company’s stock had a trading volume of 1,370,443 shares, compared to its average volume of 4,884,290. The firm’s 50-day moving average is $65.45 and its 200-day moving average is $62.23. The company has a current ratio of 1.48, a quick ratio of 1.17 and a debt-to-equity ratio of 0.37. Shell plc has a 12 month low of $52.47 and a 12 month high of $68.74. The company has a market cap of $214.94 billion, a PE ratio of 7.81, a P/E/G ratio of 0.85 and a beta of 0.63.

Shell Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 20th. Investors of record on Friday, November 17th will be given a dividend of $0.662 per share. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $2.65 annualized dividend and a dividend yield of 4.09%. Shell’s dividend payout ratio (DPR) is presently 31.40%.

Analyst Ratings Changes

Separately, Royal Bank of Canada lowered their target price on Shell from 28.00 to 27.00 and set an “outperform” rating for the company in a research note on Friday, August 11th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $1,806.20.

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 necessary to deliver gas to market.