Jennison Associates LLC Grows Stake in Shell plc (NYSE:SHEL)

Jennison Associates LLC boosted its position in Shell plc (NYSE:SHEL) by 188.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,014,199 shares of the energy company’s stock after purchasing an additional 1,967,672 shares during the period. Jennison Associates LLC owned about 0.10% of Shell worth $198,786,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of SHEL. Segall Bryant & Hamill LLC purchased a new stake in shares of Shell during the 3rd quarter valued at approximately $4,695,000. West Family Investments Inc. lifted its position in shares of Shell by 4.4% during the third quarter. West Family Investments Inc. now owns 20,139 shares of the energy company’s stock worth $1,328,000 after acquiring an additional 858 shares in the last quarter. PNC Financial Services Group Inc. grew its position in shares of Shell by 1.7% in the third quarter. PNC Financial Services Group Inc. now owns 890,180 shares of the energy company’s stock valued at $58,707,000 after purchasing an additional 14,690 shares in the last quarter. SouthState Corp raised its stake in shares of Shell by 0.9% during the 3rd quarter. SouthState Corp now owns 86,445 shares of the energy company’s stock valued at $5,701,000 after purchasing an additional 769 shares during the period. Finally, Beddow Capital Management Inc. boosted its stake in Shell by 1.4% in the 3rd quarter. Beddow Capital Management Inc. now owns 61,916 shares of the energy company’s stock worth $4,083,000 after purchasing an additional 855 shares during the period. 28.60% of the stock is owned by hedge funds and other institutional investors.

Shell Stock Down 0.8 %

Shares of SHEL opened at $65.78 on Wednesday. The firm has a market cap of $203.62 billion, a P/E ratio of 13.53, a P/E/G ratio of 1.96 and a beta of 0.56. Shell plc has a 1 year low of $60.34 and a 1 year high of $74.61. The stock has a 50 day simple moving average of $67.31 and a two-hundred day simple moving average of $70.09. 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 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, November 15th will be paid a $0.688 dividend. This represents a $2.75 annualized dividend and a yield of 4.18%. The ex-dividend date of this dividend is Friday, November 15th. Shell’s dividend payout ratio is presently 56.58%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Royal Bank of Canada raised shares of Shell to a “moderate buy” rating in a report on Tuesday, July 30th. Wells Fargo & Company boosted their price target on shares of Shell from $84.00 to $88.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. 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 note on Thursday, October 10th. Citigroup upgraded Shell to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Berenberg Bank raised 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 assigned a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $82.00.

Shell Company 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.