Financial Counselors Inc. Raises Position in Shell plc (NYSE:SHEL)

Financial Counselors Inc. lifted its stake in shares of Shell plc (NYSE:SHEL) by 1.6% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 23,088 shares of the energy company’s stock after buying an additional 363 shares during the period. Financial Counselors Inc.’s holdings in Shell were worth $1,523,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. FMR LLC increased its position in shares of Shell by 5.2% during the third quarter. FMR LLC now owns 65,298,943 shares of the energy company’s stock valued at $4,306,465,000 after acquiring an additional 3,255,347 shares during the last quarter. Empyrean Capital Partners LP purchased a new stake in shares of Shell during the 2nd quarter valued at $151,578,000. Jennison Associates LLC boosted its holdings in shares of Shell by 188.0% in the 3rd quarter. Jennison Associates LLC now owns 3,014,199 shares of the energy company’s stock worth $198,786,000 after buying an additional 1,967,672 shares during the last quarter. Raymond James & Associates grew its position in Shell by 65.7% during 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 during the period. Finally, Mediolanum International Funds Ltd bought a new stake in Shell in the third quarter worth about $37,274,000. 28.60% of the stock is owned by hedge funds and other institutional investors.

Shell Stock Down 0.3 %

Shares of NYSE SHEL opened at $64.73 on Friday. The business has a 50-day simple moving average of $66.89 and a two-hundred day simple moving average of $69.64. Shell plc has a 52 week low of $60.34 and a 52 week high of $74.61. The company has a market cap of $200.37 billion, a P/E ratio of 13.32, a P/E/G ratio of 1.95 and a beta of 0.56. 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 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 paid a dividend of $0.688 per share. The ex-dividend date is Friday, November 15th. This represents a $2.75 annualized dividend and a yield of 4.25%. Shell’s dividend payout ratio is currently 56.58%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SHEL. Berenberg Bank raised shares of Shell to a “strong-buy” rating in a research report on Monday, August 5th. Sanford C. Bernstein raised Shell to a “strong-buy” rating in a report on Friday, October 11th. Scotiabank dropped their price target on Shell from $90.00 to $80.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Wells Fargo & Company lifted their price objective on Shell from $84.00 to $88.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Finally, Citigroup raised shares of Shell to a “hold” rating in a report on Wednesday, October 2nd. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus 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.