Jennison Associates LLC Increases Stock Position in Shell plc (NYSE:SHEL)

Jennison Associates LLC grew its position in shares of Shell plc (NYSE:SHEL) by 188.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,014,199 shares of the energy company’s stock after acquiring an additional 1,967,672 shares during the period. Jennison Associates LLC’s holdings in Shell were worth $198,786,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of SHEL. Segall Bryant & Hamill LLC bought a new stake in shares of Shell in the 3rd quarter worth approximately $4,695,000. West Family Investments Inc. boosted its holdings in Shell by 4.4% in the third quarter. West Family Investments Inc. now owns 20,139 shares of the energy company’s stock valued at $1,328,000 after acquiring an additional 858 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in Shell by 1.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 890,180 shares of the energy company’s stock worth $58,707,000 after purchasing an additional 14,690 shares in the last quarter. SouthState Corp lifted its position in shares of Shell by 0.9% in the 3rd quarter. SouthState Corp now owns 86,445 shares of the energy company’s stock worth $5,701,000 after purchasing an additional 769 shares during the period. Finally, Beddow Capital Management Inc. increased its position in shares of Shell by 1.4% during the third quarter. Beddow Capital Management Inc. now owns 61,916 shares of the energy company’s stock valued at $4,083,000 after buying an additional 855 shares during the period. 28.60% of the stock is currently owned by hedge funds and other institutional investors.

Shell Stock Down 0.8 %

Shares of Shell stock opened at $65.78 on Wednesday. The company has a 50-day simple moving average of $67.31 and a two-hundred day simple moving average of $70.09. Shell plc has a 52-week low of $60.34 and a 52-week high of $74.61. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.13 and a current ratio of 1.40. The stock has a market capitalization of $203.62 billion, a PE ratio of 13.53, a price-to-earnings-growth ratio of 1.96 and a beta of 0.56.

Shell Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.75 annualized dividend and a yield of 4.18%. Shell’s dividend payout ratio is 56.58%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Scotiabank cut their price objective on Shell from $90.00 to $80.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Wells Fargo & Company increased their price objective on Shell from $84.00 to $88.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Berenberg Bank raised shares of Shell to a “strong-buy” rating in a research report on Monday, August 5th. Barclays raised shares of Shell to a “strong-buy” rating in a research report on Wednesday, October 2nd. Finally, Royal Bank of Canada upgraded shares of Shell to a “moderate buy” rating in a report on Tuesday, July 30th. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, Shell presently has an average rating of “Buy” and an average price target 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.