Shell plc (NYSE:SHEL) Stock Position Lessened by Heritage Investors Management Corp

Heritage Investors Management Corp cut its holdings in Shell plc (NYSE:SHEL) by 1.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 95,178 shares of the energy company’s stock after selling 1,194 shares during the quarter. Heritage Investors Management Corp’s holdings in Shell were worth $6,277,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Empyrean Capital Partners LP purchased a new stake in Shell in the 2nd quarter worth about $151,578,000. Mondrian Investment Partners LTD lifted its position 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 worth $146,675,000 after buying an additional 993,342 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Shell by 13.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,715,078 shares of the energy company’s stock valued at $450,180,000 after acquiring an additional 772,736 shares in the last quarter. Raymond James & Associates increased its stake 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 worth $122,579,000 after acquiring an additional 673,624 shares during the last quarter. Finally, Senator Investment Group LP acquired a new stake in Shell during the first quarter valued at $42,775,000. 28.60% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on SHEL shares. Royal Bank of Canada raised Shell to a “moderate buy” rating in a research note on Tuesday, July 30th. Barclays raised shares of Shell to a “strong-buy” rating in a research note on Wednesday, October 2nd. Wolfe Research began coverage on Shell in a report on Thursday, July 18th. They set a “peer perform” rating on the stock. Wells Fargo & Company increased their price objective on Shell from $84.00 to $88.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Finally, Berenberg Bank upgraded Shell to a “strong-buy” rating in a report on Monday, August 5th. Three equities research 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. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $82.00.

Shell Price Performance

NYSE SHEL traded up $0.58 on Tuesday, reaching $68.32. The company’s stock had a trading volume of 346,756 shares, compared to its average volume of 4,176,163. The firm has a market cap of $212.62 billion, a PE ratio of 13.94, a price-to-earnings-growth ratio of 1.86 and a beta of 0.56. The business has a 50-day moving average price of $67.97 and a 200 day moving average price of $70.49. Shell plc has a 52 week low of $60.34 and a 52 week high of $74.61. The company has a current ratio of 1.40, a quick ratio of 1.13 and a debt-to-equity ratio of 0.34.

Shell Announces Dividend

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 $0.688 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.75 dividend on an annualized basis and a yield of 4.03%. Shell’s dividend payout ratio (DPR) is presently 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.