Sunbelt Securities Inc. lifted its position in shares of Shell plc (NYSE:SHEL – Get Rating) by 2.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,737 shares of the energy company’s stock after purchasing an additional 282 shares during the quarter. Sunbelt Securities Inc.’s holdings in Shell were worth $534,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently modified their holdings of SHEL. Wellington Management Group LLP acquired a new stake in shares of Shell during the 1st quarter worth approximately $677,739,000. Arrowstreet Capital Limited Partnership acquired a new stake in Shell in the 1st quarter valued at $549,346,000. Capital Research Global Investors acquired a new stake in Shell in the 1st quarter valued at $262,275,000. Royal Bank of Canada acquired a new stake in Shell in the 1st quarter valued at $197,426,000. Finally, Northern Trust Corp acquired a new stake in Shell in the 1st quarter valued at $153,753,000. Institutional investors and hedge funds own 7.74% of the company’s stock.
Analysts Set New Price Targets
SHEL has been the topic of several recent analyst reports. AlphaValue raised Shell to a “reduce” rating in a research note on Tuesday, February 28th. Morgan Stanley downgraded Shell from an “equal weight” rating to an “underweight” rating in a research report on Thursday, February 9th. The Goldman Sachs Group upgraded Shell from a “neutral” rating to a “buy” rating in a research report on Monday, February 27th. JPMorgan Chase & Co. lifted their price objective on Shell from GBX 2,900 ($35.34) to GBX 2,950 ($35.95) in a research report on Friday, December 2nd. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Shell from GBX 2,761 ($33.65) to GBX 2,987 ($36.40) in a research report on Tuesday, December 6th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $2,879.86.
Shell Trading Down 1.6 %
Shell Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, March 27th. Stockholders of record on Friday, February 17th will be given a dividend of $0.575 per share. The ex-dividend date is Thursday, February 16th. This represents a $2.30 dividend on an annualized basis and a dividend yield of 4.21%. This is an increase from Shell’s previous quarterly dividend of $0.50. Shell’s payout ratio is presently 20.14%.
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 necessary to deliver gas to market.
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