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

Connor Clark & Lunn Investment Management Ltd. raised its stake in Shell plc (NYSE:SHEL) by 1,411.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 203,841 shares of the energy company’s stock after buying an additional 190,359 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Shell were worth $12,771,000 as of its most recent filing with the SEC.

Other hedge funds also recently added to or reduced their stakes in the company. FMR LLC raised its stake in shares of Shell by 5.2% during the third quarter. FMR LLC now owns 65,298,943 shares of the energy company’s stock valued at $4,306,465,000 after purchasing an additional 3,255,347 shares in the last quarter. Fisher Asset Management LLC raised its stake in shares of Shell by 1.7% during the fourth quarter. Fisher Asset Management LLC now owns 24,938,735 shares of the energy company’s stock valued at $1,562,412,000 after purchasing an additional 408,088 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of Shell by 0.9% during the third quarter. Franklin Resources Inc. now owns 5,972,945 shares of the energy company’s stock valued at $408,430,000 after purchasing an additional 55,637 shares in the last quarter. Mawer Investment Management Ltd. raised its position in Shell by 8.7% in the third quarter. Mawer Investment Management Ltd. now owns 5,282,868 shares of the energy company’s stock worth $348,405,000 after acquiring an additional 422,329 shares in the last quarter. Finally, Holocene Advisors LP raised its position in Shell by 29.8% in the third quarter. Holocene Advisors LP now owns 3,773,617 shares of the energy company’s stock worth $248,870,000 after acquiring an additional 866,954 shares in the last quarter. 28.60% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on SHEL. UBS Group upgraded shares of Shell from a “neutral” rating to a “buy” rating in a research report on Wednesday, January 8th. Wells Fargo & Company dropped their price target on shares of Shell from $86.00 to $82.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Piper Sandler dropped their price target on shares of Shell from $82.00 to $72.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Morgan Stanley raised Shell from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $66.50 to $79.80 in a research note on Tuesday, January 7th. Finally, Wolfe Research raised Shell from a “peer perform” rating to an “outperform” rating and set a $80.00 price target on the stock in a research note on Friday, January 3rd. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $79.11.

Shell Trading Up 1.5 %

NYSE:SHEL opened at $68.78 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.35 and a quick ratio of 1.10. Shell plc has a fifty-two week low of $60.15 and a fifty-two week high of $74.61. The stock’s 50-day moving average is $66.44 and its two-hundred day moving average is $66.29. The stock has a market cap of $209.17 billion, a PE ratio of 13.70, a price-to-earnings-growth ratio of 0.98 and a beta of 0.47.

Shell (NYSE:SHEL) last released its earnings results on Thursday, January 30th. The energy company reported $1.20 earnings per share for the quarter, missing the consensus estimate of $1.74 by ($0.54). Shell had a net margin of 5.57% and a return on equity of 12.75%. As a group, equities research analysts forecast that Shell plc will post 7.67 earnings per share for the current fiscal year.

Shell Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Friday, February 14th will be paid a dividend of $0.716 per share. This represents a $2.86 annualized dividend and a yield of 4.16%. The ex-dividend date is Friday, February 14th. This is a boost from Shell’s previous quarterly dividend of $0.69. Shell’s payout ratio is 56.97%.

About Shell

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.