Kornitzer Capital Management Inc. KS decreased its holdings in shares of Shell plc (NYSE:SHEL - Free Report) by 2.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 466,167 shares of the energy company's stock after selling 10,576 shares during the period. Kornitzer Capital Management Inc. KS's holdings in Shell were worth $30,744,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Empyrean Capital Partners LP acquired a new position in Shell during the second quarter worth about $151,578,000. Mondrian Investment Partners LTD increased its stake in Shell by 83.2% in the 1st quarter. Mondrian Investment Partners LTD now owns 2,187,872 shares of the energy company's stock valued at $146,675,000 after purchasing an additional 993,342 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Shell by 13.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,715,078 shares of the energy company's stock worth $450,180,000 after purchasing an additional 772,736 shares during the last quarter. Raymond James & Associates grew its holdings 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 purchasing an additional 673,624 shares during the last quarter. Finally, Senator Investment Group LP purchased a new position in shares of Shell in the first quarter valued at $42,775,000. 28.60% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of equities research analysts recently commented on SHEL shares. Citigroup raised shares of Shell to a "hold" rating in a research note on Wednesday, October 2nd. Wells Fargo & Company boosted their target price on shares of Shell from $84.00 to $88.00 and gave the company an "overweight" rating in a research note on Tuesday, October 8th. Berenberg Bank raised shares of Shell to a "strong-buy" rating in a research note on Monday, August 5th. Barclays raised shares of Shell to a "strong-buy" rating in a research report on Wednesday, October 2nd. Finally, Scotiabank lowered their target price on shares of Shell from $90.00 to $80.00 and set a "sector outperform" rating for the company in a research note on Thursday, October 10th. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $82.00.
Check Out Our Latest Analysis on Shell
Shell Trading Up 0.4 %
NYSE:SHEL traded up $0.27 during trading hours on Thursday, reaching $68.62. 5,233,821 shares of the company were exchanged, compared to its average volume of 4,214,614. Shell plc has a 52-week low of $60.34 and a 52-week high of $74.61. The stock has a 50 day simple moving average of $67.81 and a 200 day simple moving average of $70.45. The firm has a market cap of $213.55 billion, a price-to-earnings ratio of 14.07, a PEG ratio of 2.04 and a beta of 0.56. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.40 and a quick ratio of 1.13.
Shell Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders 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 yield of 4.01%. The ex-dividend date is Friday, November 15th. Shell's dividend payout ratio (DPR) is presently 56.58%.
About Shell
(
Free Report)
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.
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