Shell plc (NYSE:SHEL) Stake Lifted by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. increased its stake in Shell plc (NYSE:SHEL) by 60.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,482 shares of the energy company’s stock after acquiring an additional 5,104 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Shell were worth $889,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bayesian Capital Management LP bought a new stake in Shell during the first quarter worth approximately $221,000. B. Riley Wealth Advisors Inc. boosted its holdings in Shell by 16.4% during the first quarter. B. Riley Wealth Advisors Inc. now owns 30,899 shares of the energy company’s stock worth $1,989,000 after buying an additional 4,364 shares in the last quarter. Tidal Investments LLC boosted its holdings in Shell by 6.0% during the first quarter. Tidal Investments LLC now owns 70,241 shares of the energy company’s stock worth $4,709,000 after buying an additional 3,950 shares in the last quarter. Atria Investments Inc boosted its holdings in Shell by 7.1% during the first quarter. Atria Investments Inc now owns 70,729 shares of the energy company’s stock worth $4,742,000 after buying an additional 4,659 shares in the last quarter. Finally, Burney Co. boosted its holdings in Shell by 4.2% during the first quarter. Burney Co. now owns 32,118 shares of the energy company’s stock worth $2,153,000 after buying an additional 1,295 shares in the last quarter. 28.60% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

SHEL has been the subject of a number of research reports. Scotiabank reduced their target price on shares of Shell from $90.00 to $80.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Citigroup upgraded shares of Shell to a “hold” rating in a research report on Wednesday, October 2nd. Wells Fargo & Company upped 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. Sanford C. Bernstein upgraded shares of Shell to a “strong-buy” rating in a research report on Friday, October 11th. Finally, Barclays upgraded shares of Shell to a “strong-buy” rating in a research report on Wednesday, October 2nd. Three equities 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. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $82.00.

Shell Stock Up 0.2 %

SHEL stock opened at $64.90 on Thursday. Shell plc has a 12-month low of $60.34 and a 12-month high of $74.61. The company has a quick ratio of 1.13, a current ratio of 1.40 and a debt-to-equity ratio of 0.34. The company has a market cap of $200.89 billion, a price-to-earnings ratio of 13.35, a PEG ratio of 1.95 and a beta of 0.56. The company has a 50 day moving average of $67.12 and a two-hundred day moving average of $69.77.

Shell Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, November 15th will be given a $0.688 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.75 dividend on an annualized basis and a yield of 4.24%. Shell’s payout ratio is 56.58%.

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.