Van ECK Associates Corp Trims Stock Position in Shell plc (NYSE:SHEL)

Van ECK Associates Corp lessened its stake in Shell plc (NYSE:SHEL - Free Report) by 2.0% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 1,363,109 shares of the energy company's stock after selling 27,379 shares during the quarter. Van ECK Associates Corp's holdings in Shell were worth $90,688,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in SHEL. Empyrean Capital Partners LP acquired a new position in Shell during the second quarter worth approximately $151,578,000. Mondrian Investment Partners LTD increased its position in Shell by 83.2% during the first quarter. Mondrian Investment Partners LTD now owns 2,187,872 shares of the energy company's stock worth $146,675,000 after buying an additional 993,342 shares during the period. Price T Rowe Associates Inc. MD increased its position 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 buying an additional 772,736 shares during the period. Raymond James & Associates increased its holdings in shares of 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 period. Finally, Senator Investment Group LP acquired a new position in shares of Shell in the first quarter valued at approximately $42,775,000. Hedge funds and other institutional investors own 28.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on SHEL shares. Citigroup raised Shell to a "hold" rating in a report on Wednesday, October 2nd. Royal Bank of Canada raised Shell to a "moderate buy" rating in a report on Tuesday, July 30th. Berenberg Bank raised Shell to a "strong-buy" rating in a report on Monday, August 5th. Wolfe Research initiated coverage on Shell in a report on Thursday, July 18th. They set a "peer perform" rating on the stock. Finally, Sanford C. Bernstein raised Shell to a "strong-buy" rating in a report on Friday, October 11th. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $82.00.

Shell Price Performance

SHEL traded up $0.25 during trading on Monday, reaching $67.74. 4,790,381 shares of the stock were exchanged, compared to its average volume of 4,194,047. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.41 and a quick ratio of 1.12. Shell plc has a 1 year low of $60.34 and a 1 year high of $74.61. The business's 50 day moving average price is $68.08 and its two-hundred day moving average price is $70.52. The company has a market capitalization of $210.82 billion, a price-to-earnings ratio of 13.95, a P/E/G ratio of 1.86 and a beta of 0.56.

Shell (NYSE:SHEL - Get Free Report) last issued its quarterly earnings data on Thursday, August 1st. The energy company reported $1.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.82 by $0.15. Shell had a return on equity of 14.57% and a net margin of 5.17%. The business had revenue of $75.06 billion for the quarter, compared to the consensus estimate of $88.62 billion. During the same period in the prior year, the business earned $1.50 earnings per share. As a group, equities research analysts anticipate that Shell plc will post 8.45 earnings per share for the current year.

Shell Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, November 15th will be given a $0.688 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.75 annualized dividend and a dividend yield of 4.06%. Shell's dividend payout ratio is currently 56.58%.

Shell 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.