Fmr LLC Grows Holdings in Shell plc (NYSE:SHEL)

Fmr LLC increased its holdings in Shell plc (NYSE:SHEL) by 5.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 65,298,943 shares of the energy company’s stock after purchasing an additional 3,255,347 shares during the quarter. Fmr LLC’s holdings in Shell were worth $4,306,465,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Empyrean Capital Partners LP acquired a new position in shares of Shell during the 2nd quarter worth about $151,578,000. Jennison Associates LLC lifted 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 valued at $198,786,000 after acquiring an additional 1,967,672 shares in the last quarter. Raymond James & Associates increased its position in shares of Shell by 65.7% during the second quarter. Raymond James & Associates now owns 1,698,247 shares of the energy company’s stock worth $122,579,000 after purchasing an additional 673,624 shares in the last quarter. Mediolanum International Funds Ltd acquired a new position in Shell in the 3rd quarter valued at $37,274,000. Finally, Fisher Asset Management LLC boosted its stake in Shell by 2.1% during the 3rd quarter. Fisher Asset Management LLC now owns 24,530,647 shares of the energy company’s stock worth $1,617,796,000 after purchasing an additional 507,311 shares during the last quarter. 28.60% of the stock is owned by institutional investors and hedge funds.

Shell Price Performance

Shares of SHEL opened at $65.06 on Tuesday. The firm has a 50-day simple moving average of $67.19 and a two-hundred day simple moving average of $69.84. 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 plc has a 1-year low of $60.34 and a 1-year high of $74.61. The stock has a market cap of $201.39 billion, a PE ratio of 13.39, a P/E/G ratio of 1.98 and a beta of 0.56.

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 paid a dividend of $0.688 per share. This represents a $2.75 dividend on an annualized basis and a yield of 4.23%. The ex-dividend date of this dividend is Friday, November 15th. Shell’s dividend payout ratio (DPR) is 56.58%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on SHEL. Scotiabank decreased their price target on shares of Shell from $90.00 to $80.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Citigroup upgraded Shell to a “hold” rating in a research report on Wednesday, October 2nd. Berenberg Bank upgraded Shell to a “strong-buy” rating in a research report on Monday, August 5th. Sanford C. Bernstein upgraded Shell to a “strong-buy” rating in a report on Friday, October 11th. Finally, 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. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $82.00.

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.