Harvest Portfolios Group Inc. Boosts Stock Holdings in Shell plc (NYSE:SHEL)

Harvest Portfolios Group Inc. raised its stake in Shell plc (NYSE:SHEL - Free Report) by 3.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 270,631 shares of the energy company's stock after acquiring an additional 8,725 shares during the quarter. Harvest Portfolios Group Inc.'s holdings in Shell were worth $17,848,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in SHEL. Allspring Global Investments Holdings LLC boosted its stake in shares of Shell by 1,293.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 6,898 shares of the energy company's stock valued at $462,000 after purchasing an additional 6,403 shares in the last quarter. Norden Group LLC grew its holdings in Shell by 72.5% during the 1st quarter. Norden Group LLC now owns 10,015 shares of the energy company's stock worth $671,000 after acquiring an additional 4,210 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Shell by 5.8% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 116,199 shares of the energy company's stock valued at $7,790,000 after acquiring an additional 6,356 shares during the period. Janney Montgomery Scott LLC raised its stake in shares of Shell by 1.2% during the first quarter. Janney Montgomery Scott LLC now owns 144,885 shares of the energy company's stock valued at $9,713,000 after acquiring an additional 1,728 shares during the last quarter. Finally, FORA Capital LLC bought a new stake in shares of Shell in the first quarter worth $467,000. 28.60% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have commented on SHEL shares. Royal Bank of Canada upgraded Shell to a "moderate buy" rating in a research report on Tuesday, July 30th. Scotiabank lowered their price target on shares of Shell from $90.00 to $80.00 and set a "sector outperform" rating for the company in a report on Thursday, October 10th. Citigroup upgraded shares of Shell to a "hold" rating in a research report on Wednesday, October 2nd. Berenberg Bank upgraded Shell to a "strong-buy" rating in a report on Monday, August 5th. Finally, Wolfe Research started coverage on Shell in a research note on Thursday, July 18th. They issued a "peer perform" rating on the stock. Three 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 stock. Based on data from MarketBeat, Shell has a consensus rating of "Buy" and a consensus price target of $82.00.

Shell Stock Up 0.2 %

Shell stock traded up $0.14 during mid-day trading on Wednesday, reaching $68.36. The stock had a trading volume of 7,714,763 shares, compared to its average volume of 4,208,594. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.13 and a current ratio of 1.40. Shell plc has a fifty-two week low of $60.34 and a fifty-two week high of $74.61. The stock's 50-day simple moving average is $67.88 and its 200-day simple moving average is $70.47. The firm has a market capitalization of $212.75 billion, a PE ratio of 13.81, a price-to-earnings-growth ratio of 2.04 and a beta of 0.56.

Shell Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, November 15th will be given a dividend of $0.688 per share. This represents a $2.75 annualized dividend and a dividend yield of 4.03%. The ex-dividend date is Friday, November 15th. Shell's payout ratio is presently 56.58%.

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 to deliver gas to market.