Jennison Associates LLC Has $198.79 Million Position in Shell plc (NYSE:SHEL)

Jennison Associates LLC raised its stake in shares of Shell plc (NYSE:SHEL - Free Report) by 188.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,014,199 shares of the energy company's stock after acquiring an additional 1,967,672 shares during the quarter. Jennison Associates LLC owned approximately 0.10% of Shell worth $198,786,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Hobbs Group Advisors LLC acquired a new stake in shares of Shell in the second quarter valued at $26,000. Fortitude Family Office LLC bought a new stake in Shell during the third quarter worth approximately $30,000. Triad Wealth Partners LLC acquired a new position in shares of Shell during the 2nd quarter worth about $31,000. Fairscale Capital LLC acquired a new stake in Shell in the 2nd quarter worth $33,000. Finally, Valley Wealth Managers Inc. bought a new position in Shell during the third quarter valued at about $33,000. Institutional investors and hedge funds own 28.60% of the company's stock.

Shell Stock Performance

NYSE:SHEL traded down $0.41 during mid-day trading on Wednesday, hitting $65.40. The stock had a trading volume of 1,846,780 shares, compared to its average volume of 4,221,626. 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 twelve month low of $60.34 and a twelve month high of $74.61. The company's 50 day simple moving average is $67.31 and its 200 day simple moving average is $70.04. The stock has a market cap of $202.44 billion, a price-to-earnings ratio of 13.42, a PEG ratio of 1.96 and a beta of 0.56.

Shell Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, November 15th will be issued a dividend of $0.688 per share. This represents a $2.75 annualized dividend and a dividend yield of 4.21%. The ex-dividend date is Friday, November 15th. Shell's payout ratio is 56.58%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on SHEL. Wells Fargo & Company raised their target price on Shell from $84.00 to $88.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 8th. Scotiabank cut their price target on Shell from $90.00 to $80.00 and set a "sector outperform" rating on the stock in a research note on Thursday, October 10th. Citigroup upgraded shares of Shell to a "hold" rating in a research report on Wednesday, October 2nd. Sanford C. Bernstein upgraded Shell to a "strong-buy" rating in a report on Friday, October 11th. Finally, Royal Bank of Canada raised Shell to a "moderate buy" rating in a research report on Tuesday, July 30th. Three equities 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $82.00.

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.