Verition Fund Management LLC Has $47.27 Million Stock Holdings in Shell plc (NYSE:SHEL)

Verition Fund Management LLC raised its position in Shell plc (NYSE:SHEL) by 18.5% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 716,753 shares of the energy company’s stock after purchasing an additional 112,029 shares during the period. Verition Fund Management LLC’s holdings in Shell were worth $47,270,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Icon Wealth Advisors LLC lifted its holdings in Shell by 40.7% during the third quarter. Icon Wealth Advisors LLC now owns 4,865 shares of the energy company’s stock worth $321,000 after acquiring an additional 1,408 shares in the last quarter. Rockefeller Capital Management L.P. lifted its holdings in shares of Shell by 1.5% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 3,125,284 shares of the energy company’s stock valued at $206,116,000 after purchasing an additional 46,293 shares in the last quarter. Northwest & Ethical Investments L.P. increased its stake in Shell by 29.1% during the 3rd quarter. Northwest & Ethical Investments L.P. now owns 322,691 shares of the energy company’s stock worth $21,281,000 after purchasing an additional 72,663 shares in the last quarter. Financial Counselors Inc. raised its holdings in Shell by 1.6% during the 3rd quarter. Financial Counselors Inc. now owns 23,088 shares of the energy company’s stock worth $1,523,000 after buying an additional 363 shares during the period. Finally, Fiduciary Trust Co boosted its holdings in shares of Shell by 12.6% in the third quarter. Fiduciary Trust Co now owns 66,760 shares of the energy company’s stock valued at $4,403,000 after buying an additional 7,466 shares during the period. 28.60% of the stock is owned by institutional investors.

Analyst Ratings Changes

SHEL has been the topic of several research reports. Citigroup raised shares of Shell to a “hold” rating in a research report on Wednesday, October 2nd. Berenberg Bank raised Shell to a “strong-buy” rating in a research report on Monday, August 5th. Scotiabank decreased their price target on shares of Shell from $90.00 to $80.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Wells Fargo & Company increased their target price on shares of Shell from $84.00 to $88.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Finally, Barclays raised shares of Shell to a “strong-buy” rating in a research report on Wednesday, October 2nd. Three investment analysts have rated the stock with a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $82.00.

Shell Stock Up 0.2 %

Shares of SHEL stock opened at $64.91 on Friday. Shell plc has a 52-week low of $60.34 and a 52-week high of $74.61. 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 $200.93 billion, a price-to-earnings ratio of 13.36, a PEG ratio of 1.95 and a beta of 0.56. The firm’s 50-day moving average is $66.97 and its 200-day moving average is $69.71.

Shell Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, November 15th will be issued a dividend of $0.688 per share. This represents a $2.75 dividend on an annualized basis and a dividend yield of 4.24%. The ex-dividend date of this dividend is Friday, November 15th. Shell’s payout ratio is presently 56.58%.

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.