Greenleaf Trust trimmed its position in shares of Shell plc (NYSE:SHEL – Get Rating) by 21.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,764 shares of the energy company’s stock after selling 4,690 shares during the period. Greenleaf Trust’s holdings in Shell were worth $877,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in the company. Fisher Asset Management LLC acquired a new position in Shell during the 1st quarter worth $1,076,420,000. Dimensional Fund Advisors LP acquired a new position in Shell during the 1st quarter worth $1,006,050,000. Wellington Management Group LLP acquired a new position in Shell during the 1st quarter worth $677,739,000. Arrowstreet Capital Limited Partnership acquired a new position in shares of Shell in the 1st quarter valued at about $549,346,000. Finally, Pendal Group Ltd boosted its holdings in shares of Shell by 11.0% in the 2nd quarter. Pendal Group Ltd now owns 9,145,378 shares of the energy company’s stock valued at $237,974,000 after buying an additional 907,223 shares during the period. 7.65% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several research firms have recently commented on SHEL. The Goldman Sachs Group lowered shares of Shell from a “buy” rating to a “neutral” rating in a report on Sunday, November 6th. Morgan Stanley lifted their price target on shares of Shell from GBX 2,860 ($33.82) to GBX 2,922 ($34.55) in a report on Tuesday, November 8th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Shell from GBX 2,779 ($32.86) to GBX 2,761 ($32.65) in a report on Friday, October 28th. Grupo Santander downgraded shares of Shell from an “outperform” rating to a “neutral” rating in a research report on Monday, October 24th. Finally, Royal Bank of Canada lifted their price objective on shares of Shell from GBX 3,100 ($36.66) to GBX 3,200 ($37.84) in a research report on Friday, July 29th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $2,127.13.
Shell Stock Up 0.0 %
Shell Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, December 19th. Shareholders of record on Friday, November 11th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, November 9th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.52%. Shell’s dividend payout ratio (DPR) is 17.45%.
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 necessary to deliver gas to market.
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