Shell plc (NYSE:SHEL) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lessened its position in Shell plc (NYSE:SHEL) by 16.0% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 14,423 shares of the energy company’s stock after selling 2,742 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Shell were worth $951,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Envestnet Portfolio Solutions Inc. grew its stake in shares of Shell by 9.0% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 52,704 shares of the energy company’s stock worth $3,804,000 after purchasing an additional 4,361 shares in the last quarter. AdvisorNet Financial Inc grew its position in shares of Shell by 31.5% in the 2nd quarter. AdvisorNet Financial Inc now owns 1,984 shares of the energy company’s stock valued at $143,000 after buying an additional 475 shares during the last quarter. Fiduciary Financial Group LLC purchased a new position in shares of Shell during the second quarter worth about $380,000. Triad Wealth Partners LLC purchased a new stake in shares of Shell in the 2nd quarter valued at about $31,000. Finally, Coronation Fund Managers Ltd. lifted its stake in Shell by 7.6% in the second quarter. Coronation Fund Managers Ltd. now owns 15,201 shares of the energy company’s stock valued at $1,097,000 after buying an additional 1,068 shares during the last quarter. Hedge funds and other institutional investors own 28.60% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Sanford C. Bernstein upgraded shares of Shell to a “strong-buy” rating in a research report on Friday, October 11th. Wells Fargo & Company lowered their price target on shares of Shell from $88.00 to $87.00 and set an “overweight” rating on the stock in a research note on Monday. Scotiabank lowered their target price on Shell from $90.00 to $80.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Citigroup raised Shell to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Barclays raised Shell to a “strong-buy” rating in a research note on Wednesday, October 2nd. 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’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $81.75.

Shell Stock Down 0.8 %

Shares of NYSE SHEL opened at $64.00 on Friday. The stock has a fifty day moving average price of $66.33 and a 200 day moving average price of $69.18. The company has a market cap of $198.11 billion, a P/E ratio of 13.17, a P/E/G ratio of 1.94 and a beta of 0.55. 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.

Shell Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, November 15th will be given a dividend of $0.688 per share. This represents a $2.75 annualized dividend and a yield of 4.30%. The ex-dividend date is Friday, November 15th. Shell’s dividend payout ratio (DPR) is presently 56.58%.

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.