May 24, 2023 [Market Beat]- Mirae Asset Global Investments Co. Ltd. increased its stake in Shell plc (NYSE:SHEL – Get Rating) by 4.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission.
The institutional investor owned 95,347 shares of the energy company’s stock after purchasing an additional 4,215 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Shell were worth $5,430,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently bought and sold shares of the stock. Ellerson Group Inc. ADV acquired a new stake in Shell in the 4th quarter worth approximately $465,000. Jennison Associates LLC lifted its stake in Shell by 8.9% during the 4th quarter. Jennison Associates LLC now owns 583,174 shares of the energy company’s stock valued at $33,212,000 after acquiring an additional 47,836 shares during the period. Victory Capital Management Inc. acquired a new stake in Shell during the 4th quarter valued at approximately $2,653,000. Dimensional Fund Advisors LP lifted its stake in Shell by 9.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 22,060,347 shares of the energy company’s stock valued at $1,256,281,000 after acquiring an additional 1,992,903 shares during the period. Finally, Triasima Portfolio Management inc. acquired a new stake in Shell during the 4th quarter valued at approximately $228,000. 7.74% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several analysts have commented on SHEL shares. Morgan Stanley cut shares of Shell from an “equal weight” rating to an “underweight” rating in a research note on Thursday, February 9th. Piper Sandler decreased their target price on shares of Shell from $77.00 to $75.00 in a research note on Thursday, May 18th. Berenberg Bank boosted their target price on shares of Shell from GBX 2,900 ($36.07) to GBX 3,000 ($37.31) in a research note on Friday, February 17th. The Goldman Sachs Group upgraded shares of Shell from a “neutral” rating to a “buy” rating in a research note on Monday, February 27th. Finally, AlphaValue upgraded shares of Shell to a “reduce” rating in a research note on Tuesday, February 28th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $2,526.29.
Shell Price Performance
Shares of NYSE SHEL opened at $60.36 on Wednesday. The firm has a market cap of $210.38 billion, a PE ratio of 5.00, a PEG ratio of 0.70 and a beta of 0.65. The firm has a fifty day moving average of $59.52 and a 200 day moving average of $58.67. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.19 and a current ratio of 1.47. Shell plc has a one year low of $44.90 and a one year high of $62.75.
Shell Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, June 26th. Investors of record on Friday, May 19th will be issued a $0.575 dividend. This represents a $2.30 annualized dividend and a yield of 3.81%. The ex-dividend date of this dividend is Thursday, May 18th. Shell’s payout ratio is presently 19.07%.
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