Shell plc (NYSE:SHEL) Position Raised by Equity Investment Corp

Equity Investment Corp raised its stake in Shell plc (NYSE:SHEL) by 5.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,012,644 shares of the energy company’s stock after buying an additional 50,290 shares during the period. Equity Investment Corp’s holdings in Shell were worth $66,784,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of SHEL. Empyrean Capital Partners LP bought a new position in shares of Shell in the second quarter valued at $151,578,000. Price T Rowe Associates Inc. MD increased its holdings in shares of Shell by 13.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,715,078 shares of the energy company’s stock valued at $450,180,000 after buying an additional 772,736 shares in the last quarter. Raymond James & Associates increased its holdings in shares of Shell by 65.7% in the second quarter. Raymond James & Associates now owns 1,698,247 shares of the energy company’s stock valued at $122,579,000 after buying an additional 673,624 shares in the last quarter. Senator Investment Group LP bought a new position in shares of Shell in the first quarter valued at $42,775,000. Finally, Mediolanum International Funds Ltd acquired a new stake in Shell during the 3rd quarter valued at $37,274,000. Institutional investors own 28.60% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on SHEL. Royal Bank of Canada raised shares of Shell to a “moderate buy” rating in a research note on Tuesday, July 30th. Scotiabank cut their target price on shares of Shell from $90.00 to $80.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Barclays raised shares of Shell to a “strong-buy” rating in a research note on Wednesday, October 2nd. Citigroup upgraded shares of Shell to a “hold” rating in a 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 investment 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, the company has an average rating of “Buy” and an average price target of $82.00.

Shell Trading Down 0.5 %

Shares of NYSE:SHEL opened at $65.47 on Monday. The stock has a market capitalization of $203.75 billion, a PE ratio of 13.47, a P/E/G ratio of 1.97 and a beta of 0.56. Shell plc has a 1 year low of $60.34 and a 1 year high of $74.61. The firm has a fifty day moving average price of $67.33 and a 200 day moving average price of $70.14. The company has a current ratio of 1.40, a quick ratio of 1.13 and a debt-to-equity ratio of 0.34.

Shell Announces Dividend

The firm 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 dividend on an annualized basis and a yield of 4.20%. The ex-dividend date of this dividend is Friday, November 15th. Shell’s dividend payout ratio is presently 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.