Franklin Resources Inc. Acquires 55,637 Shares of Shell plc (NYSE:SHEL)

Franklin Resources Inc. boosted its position in shares of Shell plc (NYSE:SHEL - Free Report) by 0.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,972,945 shares of the energy company's stock after buying an additional 55,637 shares during the period. Franklin Resources Inc. owned approximately 0.19% of Shell worth $408,430,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. NorthCrest Asset Manangement LLC lifted its stake in Shell by 6.4% during the third quarter. NorthCrest Asset Manangement LLC now owns 3,741 shares of the energy company's stock worth $247,000 after purchasing an additional 225 shares during the last quarter. Creative Planning boosted its stake in Shell by 11.3% in the second quarter. Creative Planning now owns 292,587 shares of the energy company's stock valued at $21,119,000 after buying an additional 29,677 shares in the last quarter. Raymond James & Associates grew its position in 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 acquiring an additional 673,624 shares during the last quarter. Foresight Global Investors Inc. acquired a new position in Shell during the second quarter worth about $1,472,000. Finally, Rockefeller Capital Management L.P. boosted its stake in shares of Shell by 1.5% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 3,125,284 shares of the energy company's stock valued at $206,116,000 after purchasing an additional 46,293 shares in the last quarter. Institutional investors own 28.60% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Citigroup raised Shell to a "hold" rating in a research note on Wednesday, October 2nd. Sanford C. Bernstein raised Shell to a "strong-buy" rating in a research note on Friday, October 11th. Barclays raised Shell to a "strong-buy" rating in a research note on Wednesday, October 2nd. Wells Fargo & Company reduced their price objective on Shell from $88.00 to $87.00 and set an "overweight" rating for the company in a research note on Monday, December 9th. Finally, Scotiabank cut their target price on Shell from $90.00 to $80.00 and set a "sector outperform" rating on the stock in a report on Thursday, October 10th. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and three have issued 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 $81.75.

Shell Stock Down 0.7 %

Shell stock traded down $0.46 during trading on Friday, hitting $63.54. 4,470,658 shares of the company were exchanged, compared to its average volume of 4,204,738. The company has a current ratio of 1.40, a quick ratio of 1.13 and a debt-to-equity ratio of 0.34. The business's 50 day moving average is $66.23 and its 200 day moving average is $69.13. Shell plc has a 52 week low of $60.34 and a 52 week high of $74.61. The company has a market capitalization of $196.68 billion, a P/E ratio of 13.07, a PEG ratio of 4.92 and a beta of 0.55.

Shell Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, November 15th will be given a dividend of $0.688 per share. This represents a $2.75 dividend on an annualized basis and a dividend yield of 4.33%. The ex-dividend date of this dividend is Friday, November 15th. Shell's payout ratio is currently 56.58%.

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.