JCIC Asset Management Inc. Grows Position in Shell plc (NYSE:SHEL)

JCIC Asset Management Inc. boosted its holdings in shares of Shell plc (NYSE:SHEL) by 1.2% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 46,082 shares of the energy company’s stock after acquiring an additional 560 shares during the quarter. Shell accounts for approximately 1.2% of JCIC Asset Management Inc.’s holdings, making the stock its 29th biggest holding. JCIC Asset Management Inc.’s holdings in Shell were worth $2,887,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of SHEL. FMR LLC grew 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 worth $4,306,465,000 after acquiring an additional 3,255,347 shares during the last quarter. Empyrean Capital Partners LP acquired a new position in Shell in the second quarter valued at approximately $151,578,000. Jennison Associates LLC grew its position in Shell by 188.0% during the third quarter. Jennison Associates LLC now owns 3,014,199 shares of the energy company’s stock valued at $198,786,000 after buying an additional 1,967,672 shares during the period. Holocene Advisors LP raised its stake in shares of Shell by 29.8% during the 3rd quarter. Holocene Advisors LP now owns 3,773,617 shares of the energy company’s stock worth $248,870,000 after buying an additional 866,954 shares during the period. Finally, Mediolanum International Funds Ltd purchased a new stake in Shell in the 3rd quarter worth $37,274,000. Hedge funds and other institutional investors own 28.60% of the company’s stock.

Shell Stock Performance

Shell stock traded up $0.02 during midday trading on Monday, hitting $64.96. 2,539,720 shares of the company’s stock were exchanged, compared to its average volume of 4,366,291. Shell plc has a 12-month low of $60.15 and a 12-month high of $74.61. The firm’s 50 day simple moving average is $64.38 and its 200 day simple moving average is $68.01. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.13 and a current ratio of 1.40. The stock has a market cap of $199.90 billion, a price-to-earnings ratio of 13.37, a price-to-earnings-growth ratio of 4.84 and a beta of 0.55.

Shell Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Friday, November 15th were issued a $0.688 dividend. This represents a $2.75 annualized dividend and a dividend yield of 4.24%. The ex-dividend date was Friday, November 15th. Shell’s payout ratio is 56.58%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on SHEL shares. Morgan Stanley upgraded Shell from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $66.50 to $79.80 in a research note on Tuesday, January 7th. Sanford C. Bernstein upgraded Shell to a “strong-buy” rating in a research report on Friday, October 11th. Wells Fargo & Company decreased their price objective on Shell from $87.00 to $86.00 and set an “overweight” rating on the stock in a report on Friday. Citigroup upgraded shares of Shell to a “hold” rating in a report on Wednesday, October 2nd. Finally, Wolfe Research raised Shell from a “peer perform” rating to an “outperform” rating and set a $80.00 price objective on the stock in a research report on Friday, January 3rd. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $79.69.

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.