New England Asset Management Inc. Grows Stake in Shell plc (NYSE:SHEL)

New England Asset Management Inc. lifted its holdings in Shell plc (NYSE:SHEL) by 1.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 98,540 shares of the energy company’s stock after purchasing an additional 950 shares during the quarter. New England Asset Management Inc.’s holdings in Shell were worth $6,499,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in SHEL. Mawer Investment Management Ltd. raised its holdings in shares of 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 buying an additional 422,329 shares during the last quarter. Equity Investment Corp lifted its position in Shell by 5.2% during the 3rd quarter. Equity Investment Corp now owns 1,012,644 shares of the energy company’s stock worth $66,784,000 after acquiring an additional 50,290 shares during the period. TrinityPoint Wealth LLC increased its holdings in shares of Shell by 3.2% in the third quarter. TrinityPoint Wealth LLC now owns 11,361 shares of the energy company’s stock valued at $749,000 after purchasing an additional 353 shares during the period. Thrivent Financial for Lutherans lifted its holdings in shares of Shell by 0.4% during the third quarter. Thrivent Financial for Lutherans now owns 714,990 shares of the energy company’s stock worth $47,154,000 after purchasing an additional 3,136 shares during the period. Finally, Adero Partners LLC acquired a new position in Shell in the 3rd quarter worth approximately $202,000. 28.60% of the stock is owned by institutional investors and hedge funds.

Shell Stock Up 1.3 %

SHEL stock opened at $66.33 on Tuesday. The stock has a market capitalization of $205.31 billion, a P/E ratio of 13.65, a P/E/G ratio of 1.96 and a beta of 0.56. Shell plc has a 52 week low of $60.34 and a 52 week high of $74.61. The firm has a 50-day simple moving average of $67.33 and a 200-day simple moving average of $70.13. The company has a quick ratio of 1.13, a current ratio of 1.40 and a debt-to-equity ratio of 0.34.

Shell Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.688 per share. The ex-dividend date is Friday, November 15th. This represents a $2.75 dividend on an annualized basis and a dividend yield of 4.15%. Shell’s payout ratio is currently 56.58%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Sanford C. Bernstein upgraded shares of Shell to a “strong-buy” rating in a research note on Friday, October 11th. Royal Bank of Canada raised Shell to a “moderate buy” rating in a report on Tuesday, July 30th. Berenberg Bank upgraded Shell to a “strong-buy” rating in a research report on Monday, August 5th. Barclays raised shares of Shell to a “strong-buy” rating in a research note on Wednesday, October 2nd. Finally, Scotiabank dropped their price target on shares of Shell from $90.00 to $80.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus 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.