HighTower Advisors LLC Increases Stake in Shell plc (NYSE:SHEL)

HighTower Advisors LLC grew its holdings in shares of Shell plc (NYSE:SHEL) by 0.8% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 463,797 shares of the energy company’s stock after purchasing an additional 3,476 shares during the quarter. HighTower Advisors LLC’s holdings in Shell were worth $30,592,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. FMR LLC raised its holdings in Shell by 5.2% during the 3rd quarter. FMR LLC now owns 65,298,943 shares of the energy company’s stock valued at $4,306,465,000 after acquiring an additional 3,255,347 shares during the period. Empyrean Capital Partners LP bought a new stake in shares of Shell during the 2nd quarter valued at $151,578,000. Jennison Associates LLC lifted its holdings in Shell by 188.0% during the 3rd quarter. Jennison Associates LLC now owns 3,014,199 shares of the energy company’s stock worth $198,786,000 after purchasing an additional 1,967,672 shares in the last quarter. Holocene Advisors LP boosted its stake in Shell by 29.8% in the 3rd quarter. Holocene Advisors LP now owns 3,773,617 shares of the energy company’s stock worth $248,870,000 after purchasing an additional 866,954 shares during the period. Finally, Raymond James & Associates increased its position in shares of Shell by 65.7% during the second quarter. Raymond James & Associates now owns 1,698,247 shares of the energy company’s stock valued at $122,579,000 after buying an additional 673,624 shares during the period. Institutional investors own 28.60% of the company’s stock.

Shell Stock Up 0.2 %

Shares of NYSE SHEL opened at $64.35 on Friday. Shell plc has a one year low of $60.34 and a one year high of $74.61. The stock has a market capitalization of $199.19 billion, a P/E ratio of 13.24, a PEG ratio of 1.96 and a beta of 0.55. The firm’s 50 day simple moving average is $66.62 and its two-hundred day simple moving average is $69.41. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.40 and a quick ratio of 1.13.

Shell Announces Dividend

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. The ex-dividend date is Friday, November 15th. This represents a $2.75 annualized dividend and a yield of 4.28%. Shell’s payout ratio is 56.58%.

Analyst Ratings Changes

Several brokerages recently commented on SHEL. Sanford C. Bernstein raised shares of Shell to a “strong-buy” rating in a research note on Friday, October 11th. Citigroup raised shares of Shell to a “hold” rating in a report on Wednesday, October 2nd. Barclays upgraded Shell to a “strong-buy” rating in a research report on Wednesday, October 2nd. Scotiabank cut their price objective on Shell from $90.00 to $80.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Finally, Wells Fargo & Company raised their target price on shares of Shell from $84.00 to $88.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. 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 stock. According to data from MarketBeat, Shell currently has an average rating of “Buy” and a consensus 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.