Shell (NYSE:SHEL) Trading Down 3%

Shell plc (NYSE:SHEL)’s stock price traded down 3% on Friday . The stock traded as low as $66.39 and last traded at $66.46. 868,867 shares traded hands during trading, a decline of 82% from the average session volume of 4,891,518 shares. The stock had previously closed at $68.55.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada reduced their price objective on shares of Shell from 28.00 to 27.00 and set an “outperform” rating for the company in a research report on Friday, August 11th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $1,992.17.

Shell Price Performance

The company’s fifty day moving average is $64.98 and its 200 day moving average is $62.01. The company has a quick ratio of 1.18, a current ratio of 1.46 and a debt-to-equity ratio of 0.38. The stock has a market cap of $222.73 billion, a PE ratio of 7.84, a price-to-earnings-growth ratio of 0.86 and a beta of 0.63.

Shell Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 20th. Stockholders of record on Friday, November 17th will be given a dividend of $0.662 per share. This represents a $2.65 dividend on an annualized basis and a dividend yield of 4.00%. The ex-dividend date of this dividend is Thursday, November 16th. Shell’s payout ratio is currently 31.40%.

Hedge Funds Weigh In On Shell

A number of hedge funds have recently added to or reduced their stakes in the business. McClarren Financial Advisors Inc. bought a new stake in Shell in the second quarter valued at $30,000. America First Investment Advisors LLC bought a new stake in Shell in the first quarter worth about $32,000. Venturi Wealth Management LLC bought a new stake in Shell in the first quarter worth about $32,000. ST Germain D J Co. Inc. purchased a new position in Shell in the 2nd quarter worth about $36,000. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC purchased a new position in Shell in the 1st quarter worth about $41,000. Institutional investors and hedge funds own 9.23% of the company’s stock.

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.