Equity Investment Corp Has $66.78 Million Stake in Shell plc (NYSE:SHEL)

Equity Investment Corp boosted its position in shares of Shell plc (NYSE:SHEL) by 5.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,012,644 shares of the energy company’s stock after acquiring an additional 50,290 shares during the period. Equity Investment Corp’s holdings in Shell were worth $66,784,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its position in Shell by 0.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 22,722,317 shares of the energy company’s stock worth $1,640,082,000 after acquiring an additional 96,549 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Shell by 13.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,715,078 shares of the energy company’s stock valued at $450,180,000 after buying an additional 772,736 shares during the last quarter. Westwood Global Investments LLC raised its position in shares of Shell by 4.1% during the second quarter. Westwood Global Investments LLC now owns 2,546,523 shares of the energy company’s stock valued at $183,808,000 after buying an additional 100,379 shares during the last quarter. Envestnet Asset Management Inc. raised its position in shares of Shell by 6.4% during the second quarter. Envestnet Asset Management Inc. now owns 2,248,366 shares of the energy company’s stock valued at $162,287,000 after buying an additional 136,139 shares during the last quarter. Finally, Empyrean Capital Partners LP acquired a new position in shares of Shell during the second quarter valued at about $151,578,000. Institutional investors and hedge funds own 28.60% of the company’s stock.

Shell Price Performance

Shares of Shell stock opened at $65.47 on Monday. The company has a current ratio of 1.40, a quick ratio of 1.13 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $203.75 billion, a price-to-earnings ratio of 13.47, a P/E/G ratio of 1.97 and a beta of 0.56. Shell plc has a 1-year low of $60.34 and a 1-year high of $74.61. The firm’s 50-day moving average price is $67.33 and its two-hundred day moving average price is $70.14.

Shell Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.688 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.75 annualized dividend and a dividend yield of 4.20%. Shell’s dividend payout ratio (DPR) is currently 56.58%.

Analysts Set New Price Targets

SHEL has been the subject of a number of research analyst reports. Royal Bank of Canada raised shares of Shell to a “moderate buy” rating in a research report on Tuesday, July 30th. Berenberg Bank raised shares of Shell to a “strong-buy” rating in a research report on Monday, August 5th. Scotiabank dropped 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 report on Thursday, October 10th. Wells Fargo & Company increased their price target on shares of Shell from $84.00 to $88.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Finally, Citigroup raised shares of Shell to a “hold” rating in a research report on Wednesday, October 2nd. Three analysts have rated the stock with a hold rating, four have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price 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.