Pitcairn Co. Acquires 4,424 Shares of Shell plc (NYSE:SHEL)

Pitcairn Co. boosted its holdings in shares of Shell plc (NYSE:SHEL) by 10.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 45,198 shares of the energy company’s stock after buying an additional 4,424 shares during the quarter. Pitcairn Co.’s holdings in Shell were worth $2,981,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP boosted its position in shares of Shell by 0.4% in the second quarter. Dimensional Fund Advisors LP now owns 22,722,317 shares of the energy company’s stock worth $1,640,082,000 after purchasing an additional 96,549 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Shell by 13.0% in 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 period. Mawer Investment Management Ltd. boosted its position in shares of Shell by 8.7% in the third quarter. Mawer Investment Management Ltd. now owns 5,282,868 shares of the energy company’s stock worth $348,405,000 after purchasing an additional 422,329 shares during the period. Jennison Associates LLC boosted its position in shares of Shell by 188.0% in the third quarter. Jennison Associates LLC now owns 3,014,199 shares of the energy company’s stock worth $198,786,000 after purchasing an additional 1,967,672 shares during the period. Finally, Westwood Global Investments LLC boosted its position in shares of Shell by 4.1% during the second quarter. Westwood Global Investments LLC now owns 2,546,523 shares of the energy company’s stock worth $183,808,000 after acquiring an additional 100,379 shares during the last quarter. 28.60% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Berenberg Bank upgraded shares of Shell to a “strong-buy” rating in a research report on Monday, August 5th. Wells Fargo & Company upped their target price on shares of Shell from $84.00 to $88.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Royal Bank of Canada upgraded shares of Shell to a “moderate buy” rating in a research report on Tuesday, July 30th. Citigroup upgraded shares of Shell to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Scotiabank dropped 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 report on Thursday, October 10th. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Shell presently has a consensus rating of “Buy” and an average target price of $82.00.

Shell Price Performance

Shell stock opened at $66.03 on Friday. Shell plc has a 52-week low of $60.34 and a 52-week high of $74.61. The company has a market cap of $204.39 billion, a price-to-earnings ratio of 13.59, a PEG ratio of 1.99 and a beta of 0.56. The company has a quick ratio of 1.13, a current ratio of 1.40 and a debt-to-equity ratio of 0.34. The firm’s fifty day moving average is $67.25 and its 200 day moving average is $69.94.

Shell Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, November 15th will be paid a $0.688 dividend. This represents a $2.75 annualized dividend and a dividend yield of 4.17%. The ex-dividend date of this dividend is Friday, November 15th. Shell’s dividend payout ratio is currently 56.58%.

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.