Pitcairn Co. Buys 4,424 Shares of Shell plc (NYSE:SHEL)

Pitcairn Co. lifted its stake in Shell plc (NYSE:SHEL) by 10.9% during the third quarter, HoldingsChannel reports. The firm owned 45,198 shares of the energy company’s stock after purchasing an additional 4,424 shares during the period. Pitcairn Co.’s holdings in Shell were worth $2,981,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. First Horizon Advisors Inc. grew its holdings in Shell by 1.3% during the 2nd quarter. First Horizon Advisors Inc. now owns 11,097 shares of the energy company’s stock worth $801,000 after acquiring an additional 142 shares in the last quarter. Lester Murray Antman dba SimplyRich grew 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 worth $1,941,000 after acquiring an additional 158 shares in the last quarter. Procyon Advisors LLC grew its holdings in Shell by 3.2% during the 3rd quarter. Procyon Advisors LLC now owns 5,074 shares of the energy company’s stock worth $335,000 after acquiring an additional 159 shares in the last quarter. Sax Wealth Advisors LLC boosted its holdings in shares of Shell by 4.1% in the 2nd 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. boosted its holdings in shares of Shell by 40.8% in the 3rd 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 in the last quarter. 28.60% of the stock is currently owned by institutional investors.

Shell Stock Performance

SHEL opened at $66.03 on Friday. Shell plc has a 12-month low of $60.34 and a 12-month high of $74.61. The company has a current ratio of 1.40, a quick ratio of 1.13 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $204.39 billion, a PE ratio of 13.59, a P/E/G ratio of 1.99 and a beta of 0.56. The firm has a 50 day moving average of $67.25 and a two-hundred day moving average of $69.94.

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 given a dividend of $0.688 per share. This represents a $2.75 dividend on an annualized basis and a yield of 4.17%. The ex-dividend date is Friday, November 15th. Shell’s dividend payout ratio is presently 56.58%.

Analysts Set New Price Targets

SHEL has been the topic of a number of recent analyst reports. Barclays upgraded shares of Shell to a “strong-buy” rating in a report on Wednesday, October 2nd. Wells Fargo & Company increased their price objective 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. Berenberg Bank raised shares of Shell to a “strong-buy” rating in a research report on Monday, August 5th. Sanford C. Bernstein raised shares of Shell to a “strong-buy” rating in a research report on Friday, October 11th. Finally, Royal Bank of Canada raised shares of Shell to a “moderate buy” rating in a research report on Tuesday, July 30th. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, Shell presently has an average rating of “Buy” and an average 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.