PNC Financial Services Group Inc. Has $58.71 Million Position in Shell plc (NYSE:SHEL)

PNC Financial Services Group Inc. raised its holdings in shares of Shell plc (NYSE:SHEL) by 1.7% in the third quarter, Holdings Channel reports. The institutional investor owned 890,180 shares of the energy company’s stock after buying an additional 14,690 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Shell were worth $58,707,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. First Horizon Advisors Inc. grew its stake in shares of Shell by 1.3% during the second quarter. First Horizon Advisors Inc. now owns 11,097 shares of the energy company’s stock worth $801,000 after purchasing an additional 142 shares during the period. Lester Murray Antman dba SimplyRich boosted its stake in Shell by 0.6% in the 2nd quarter. Lester Murray Antman dba SimplyRich now owns 26,901 shares of the energy company’s stock worth $1,941,000 after purchasing an additional 158 shares during the period. Procyon Advisors LLC boosted its position in shares of Shell by 3.2% during the third quarter. Procyon Advisors LLC now owns 5,074 shares of the energy company’s stock worth $335,000 after buying an additional 159 shares during the period. Sax Wealth Advisors LLC grew its stake in shares of Shell by 4.1% during the 2nd quarter. Sax Wealth Advisors LLC now owns 4,086 shares of the energy company’s stock worth $295,000 after acquiring an additional 162 shares in the last quarter. Finally, GHP Investment Advisors Inc. increased its stake in Shell by 40.8% in the 3rd quarter. GHP Investment Advisors Inc. now owns 563 shares of the energy company’s stock valued at $37,000 after buying an additional 163 shares during the last quarter. Institutional investors own 28.60% of the company’s stock.

Shell Stock Performance

NYSE SHEL opened at $65.42 on Thursday. The company has a market cap of $202.50 billion, a P/E ratio of 13.46, a PEG ratio of 1.96 and a beta of 0.56. Shell plc has a 12-month low of $60.34 and a 12-month high of $74.61. The company has a fifty day simple moving average of $67.31 and a 200 day simple moving average of $70.04. 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, November 15th will be paid a $0.688 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.75 annualized dividend and a yield of 4.21%. Shell’s dividend payout ratio (DPR) is 56.58%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company upped their target price on shares of Shell from $84.00 to $88.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Barclays upgraded Shell to a “strong-buy” rating in a research note on Wednesday, October 2nd. Citigroup raised shares of Shell to a “hold” rating in a research report on Wednesday, October 2nd. Royal Bank of Canada upgraded shares of Shell to a “moderate buy” rating in a research note on Tuesday, July 30th. Finally, Scotiabank reduced their price target on Shell from $90.00 to $80.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Three investment 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $82.00.

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.