Pzena Investment Management LLC Boosts Stock Position in Shell plc (NYSE:SHEL)

Pzena Investment Management LLC boosted its stake in Shell plc (NYSE:SHEL) by 0.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,699,517 shares of the energy company’s stock after acquiring an additional 7,317 shares during the period. Pzena Investment Management LLC’s holdings in Shell were worth $243,983,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of SHEL. NorthCrest Asset Manangement LLC raised its position in Shell by 6.4% in the 3rd quarter. NorthCrest Asset Manangement LLC now owns 3,741 shares of the energy company’s stock worth $247,000 after buying an additional 225 shares during the last quarter. Lazard Asset Management LLC increased its position in Shell by 21.0% during the first quarter. Lazard Asset Management LLC now owns 44,896 shares of the energy company’s stock valued at $3,009,000 after acquiring an additional 7,779 shares during the last quarter. Creative Planning boosted its position in Shell by 11.3% in the second quarter. Creative Planning now owns 292,587 shares of the energy company’s stock worth $21,119,000 after purchasing an additional 29,677 shares during the last quarter. Raymond James & Associates increased its position in shares of Shell by 65.7% during the 2nd quarter. Raymond James & Associates now owns 1,698,247 shares of the energy company’s stock valued at $122,579,000 after purchasing an additional 673,624 shares during the last quarter. Finally, Foresight Global Investors Inc. purchased a new position in Shell during the second quarter valued at approximately $1,472,000. Hedge funds and other institutional investors own 28.60% of the company’s stock.

Shell Trading Down 0.7 %

NYSE:SHEL traded down $0.43 during trading hours on Wednesday, reaching $65.38. 534,563 shares of the stock were exchanged, compared to its average volume of 4,215,794. The business has a 50-day moving average of $67.31 and a two-hundred day moving average of $70.09. The company has a quick ratio of 1.13, a current ratio of 1.40 and a debt-to-equity ratio of 0.34. Shell plc has a twelve month low of $60.34 and a twelve month high of $74.61. The company has a market capitalization of $202.38 billion, a price-to-earnings ratio of 13.53, a PEG ratio of 1.96 and a beta of 0.56.

Shell Dividend Announcement

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 issued a dividend of $0.688 per share. This represents a $2.75 dividend on an annualized basis and a yield of 4.21%. The ex-dividend date of this dividend is Friday, November 15th. Shell’s dividend payout ratio (DPR) is 56.58%.

Analysts Set New Price Targets

Several research firms have weighed in on SHEL. Citigroup upgraded Shell to a “hold” rating in a research note on Wednesday, October 2nd. Wells Fargo & Company raised their target price on shares of Shell from $84.00 to $88.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Barclays upgraded Shell to a “strong-buy” rating in a research note on Wednesday, October 2nd. Sanford C. Bernstein upgraded Shell to a “strong-buy” rating in a report on Friday, October 11th. Finally, Berenberg Bank upgraded shares of 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 stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price 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.