Connor Clark & Lunn Investment Management Ltd. Increases Stake in Shell plc (NYSE:SHEL)

Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Shell plc (NYSE:SHEL) by 1,411.9% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 203,841 shares of the energy company’s stock after buying an additional 190,359 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Shell were worth $12,771,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of SHEL. Nations Financial Group Inc. IA ADV raised its holdings in Shell by 8.3% in the third quarter. Nations Financial Group Inc. IA ADV now owns 3,209 shares of the energy company’s stock valued at $212,000 after buying an additional 247 shares during the period. Apollon Wealth Management LLC raised its holdings in Shell by 14.4% in the third quarter. Apollon Wealth Management LLC now owns 22,030 shares of the energy company’s stock valued at $1,453,000 after buying an additional 2,766 shares during the period. OneDigital Investment Advisors LLC raised its holdings in Shell by 2.5% in the third quarter. OneDigital Investment Advisors LLC now owns 7,889 shares of the energy company’s stock valued at $520,000 after buying an additional 196 shares during the period. Valley Wealth Managers Inc. purchased a new position in Shell in the third quarter valued at approximately $33,000. Finally, Adero Partners LLC purchased a new stake in shares of Shell during the third quarter valued at approximately $202,000. Hedge funds and other institutional investors own 28.60% of the company’s stock.

Shell Stock Performance

Shell stock opened at $68.78 on Friday. The company has a market cap of $209.17 billion, a PE ratio of 13.70, a P/E/G ratio of 0.98 and a beta of 0.47. The company has a fifty day moving average price of $66.44 and a two-hundred day moving average price of $66.29. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.35 and a quick ratio of 1.10. Shell plc has a 12 month low of $60.15 and a 12 month high of $74.61.

Shell (NYSE:SHEL) last released its quarterly earnings data on Thursday, January 30th. The energy company reported $1.20 EPS for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.54). Shell had a return on equity of 12.75% and a net margin of 5.57%. Research analysts expect that Shell plc will post 7.67 earnings per share for the current year.

Shell Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Friday, February 14th will be issued a $0.716 dividend. This represents a $2.86 dividend on an annualized basis and a yield of 4.16%. The ex-dividend date of this dividend is Friday, February 14th. This is an increase from Shell’s previous quarterly dividend of $0.69. Shell’s payout ratio is currently 56.97%.

Analyst Ratings Changes

SHEL has been the topic of a number of analyst reports. Wells Fargo & Company dropped their price objective on shares of Shell from $86.00 to $82.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. UBS Group upgraded shares of Shell from a “neutral” rating to a “buy” rating in a research note on Wednesday, January 8th. Piper Sandler dropped their price objective on shares of Shell from $82.00 to $72.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Morgan Stanley raised shares of Shell from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $66.50 to $79.80 in a research report on Tuesday, January 7th. Finally, Wolfe Research raised shares of Shell from a “peer perform” rating to an “outperform” rating and set a $80.00 price target for the company in a research report on Friday, January 3rd. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, Shell currently has a consensus rating of “Buy” and a consensus price target of $79.11.

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.