Connor Clark & Lunn Investment Management Ltd. Acquires 5,104 Shares of Shell plc (NYSE:SHEL)

Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Shell plc (NYSE:SHEL) by 60.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,482 shares of the energy company’s stock after purchasing an additional 5,104 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Shell were worth $889,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Howe & Rusling Inc. raised its holdings in shares of Shell by 42.9% during the 3rd quarter. Howe & Rusling Inc. now owns 24,479 shares of the energy company’s stock valued at $1,614,000 after purchasing an additional 7,345 shares in the last quarter. Jennison Associates LLC grew its stake in Shell by 188.0% in the 3rd 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 last quarter. Segall Bryant & Hamill LLC acquired a new position in Shell in the 3rd quarter valued at $4,695,000. West Family Investments Inc. grew its stake in Shell by 4.4% in the 3rd quarter. West Family Investments Inc. now owns 20,139 shares of the energy company’s stock valued at $1,328,000 after buying an additional 858 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its stake in Shell by 1.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 890,180 shares of the energy company’s stock valued at $58,707,000 after buying an additional 14,690 shares during the last quarter. Institutional investors own 28.60% of the company’s stock.

Wall Street Analyst Weigh In

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

Shell Stock Performance

NYSE SHEL opened at $64.90 on Thursday. The stock has a market cap of $200.89 billion, a P/E ratio of 13.35, a PEG ratio of 1.95 and a beta of 0.56. The company’s 50-day simple moving average is $67.12 and its 200 day simple moving average is $69.77. Shell plc has a twelve month low of $60.34 and a twelve month high of $74.61. 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 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 paid a $0.688 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.75 dividend on an annualized basis and a yield of 4.24%. Shell’s payout ratio is currently 56.58%.

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.