Inspire Trust Co. N.A. increased its holdings in shares of Shell plc (NYSE:SHEL - Free Report) by 26.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 52,439 shares of the energy company's stock after acquiring an additional 11,105 shares during the period. Inspire Trust Co. N.A.'s holdings in Shell were worth $3,458,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of SHEL. Envestnet Portfolio Solutions Inc. grew its holdings in shares of Shell by 9.0% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 52,704 shares of the energy company's stock worth $3,804,000 after acquiring an additional 4,361 shares during the period. AdvisorNet Financial Inc increased its position in shares of Shell by 31.5% in the second quarter. AdvisorNet Financial Inc now owns 1,984 shares of the energy company's stock valued at $143,000 after buying an additional 475 shares in the last quarter. Fiduciary Financial Group LLC acquired a new position in shares of Shell during the 2nd quarter worth $380,000. Triad Wealth Partners LLC purchased a new stake in shares of Shell in the 2nd quarter worth about $31,000. Finally, Coronation Fund Managers Ltd. increased its holdings in Shell by 7.6% during the 2nd quarter. Coronation Fund Managers Ltd. now owns 15,201 shares of the energy company's stock valued at $1,097,000 after acquiring an additional 1,068 shares in the last quarter. Institutional investors and hedge funds own 28.60% of the company's stock.
Analysts Set New Price Targets
Several brokerages have issued reports on SHEL. Citigroup raised shares of Shell to a "hold" rating in a report on Wednesday, October 2nd. Barclays upgraded Shell to a "strong-buy" rating in a report on Wednesday, October 2nd. Wells Fargo & Company reduced their price objective on Shell from $88.00 to $87.00 and set an "overweight" rating on the stock in a research report on Monday. Scotiabank dropped their price objective on Shell from $90.00 to $80.00 and set a "sector outperform" rating for the company in a research report on Thursday, October 10th. Finally, Sanford C. Bernstein upgraded shares of Shell to a "strong-buy" rating in a report on Friday, October 11th. 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. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $81.75.
Read Our Latest Stock Analysis on Shell
Shell Trading Down 0.7 %
NYSE:SHEL traded down $0.47 during mid-day trading on Friday, reaching $63.53. The company's stock had a trading volume of 4,470,486 shares, compared to its average volume of 4,204,738. Shell plc has a twelve month low of $60.34 and a twelve month high of $74.61. The company's fifty day simple moving average is $66.33 and its two-hundred day simple moving average is $69.18. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.40 and a quick ratio of 1.13. The stock has a market cap of $196.65 billion, a P/E ratio of 13.14, a P/E/G ratio of 4.92 and a beta of 0.55.
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 $0.688 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.75 dividend on an annualized basis and a yield of 4.33%. Shell's payout ratio is 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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