SouthState Corp Acquires 769 Shares of Shell plc (NYSE:SHEL)

SouthState Corp raised its holdings in Shell plc (NYSE:SHEL) by 0.9% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 86,445 shares of the energy company’s stock after acquiring an additional 769 shares during the period. SouthState Corp’s holdings in Shell were worth $5,701,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in SHEL. First Horizon Advisors Inc. grew its stake in Shell by 1.3% during the second quarter. First Horizon Advisors Inc. now owns 11,097 shares of the energy company’s stock worth $801,000 after buying an additional 142 shares during the last quarter. Lester Murray Antman dba SimplyRich increased its holdings in Shell by 0.6% during the 2nd quarter. Lester Murray Antman dba SimplyRich now owns 26,901 shares of the energy company’s stock valued at $1,941,000 after purchasing an additional 158 shares in the last quarter. Procyon Advisors LLC boosted its stake in Shell by 3.2% in the third quarter. Procyon Advisors LLC now owns 5,074 shares of the energy company’s stock worth $335,000 after purchasing an additional 159 shares in the last quarter. Sax Wealth Advisors LLC increased its stake in shares of Shell by 4.1% in the second quarter. Sax Wealth Advisors LLC now owns 4,086 shares of the energy company’s stock valued at $295,000 after buying an additional 162 shares in the last quarter. Finally, GHP Investment Advisors Inc. raised its holdings in shares of Shell by 40.8% in the third quarter. GHP Investment Advisors Inc. now owns 563 shares of the energy company’s stock valued at $37,000 after buying an additional 163 shares during the last quarter. 28.60% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SHEL. Wells Fargo & Company boosted their target price on shares of Shell from $84.00 to $88.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Citigroup upgraded Shell to a “hold” rating in a research report on Wednesday, October 2nd. Scotiabank dropped their target price on Shell from $90.00 to $80.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Berenberg Bank upgraded Shell to a “strong-buy” rating in a report on Monday, August 5th. Finally, Royal Bank of Canada upgraded shares of Shell to a “moderate buy” rating in a research report on Tuesday, July 30th. Three equities research analysts have rated the stock with a hold rating, four have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $82.00.

Shell Price Performance

Shell stock opened at $66.33 on Tuesday. The firm has a market capitalization of $205.31 billion, a P/E ratio of 13.65, a PEG ratio of 1.96 and a beta of 0.56. The business has a 50-day moving average of $67.33 and a 200-day moving average of $70.13. 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 plc has a 1 year low of $60.34 and a 1 year high of $74.61.

Shell Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, November 15th will be issued a $0.688 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.75 annualized dividend and a yield of 4.15%. 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.