Charles Schwab Investment Management Inc. Acquires 18,725 Shares of Shell plc (NYSE:SHEL)

Charles Schwab Investment Management Inc. increased its stake in Shell plc (NYSE:SHEL) by 11.3% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 184,919 shares of the energy company’s stock after purchasing an additional 18,725 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Shell were worth $12,195,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the stock. NorthCrest Asset Manangement LLC increased its position in shares of Shell by 6.4% during the third quarter. NorthCrest Asset Manangement LLC now owns 3,741 shares of the energy company’s stock valued at $247,000 after buying an additional 225 shares during the period. Creative Planning lifted its stake in Shell by 11.3% in the 2nd quarter. Creative Planning now owns 292,587 shares of the energy company’s stock worth $21,119,000 after purchasing an additional 29,677 shares in the last quarter. Raymond James & Associates boosted its holdings in Shell by 65.7% in the 2nd quarter. Raymond James & Associates now owns 1,698,247 shares of the energy company’s stock valued at $122,579,000 after purchasing an additional 673,624 shares during the period. Foresight Global Investors Inc. purchased a new position in shares of Shell during the 2nd quarter valued at $1,472,000. Finally, Mawer Investment Management Ltd. raised its position in shares of Shell by 8.7% in the third quarter. Mawer Investment Management Ltd. now owns 5,282,868 shares of the energy company’s stock worth $348,405,000 after buying an additional 422,329 shares in the last quarter. Hedge funds and other institutional investors own 28.60% of the company’s stock.

Shell Stock Performance

NYSE SHEL opened at $63.25 on Monday. The firm has a market cap of $195.79 billion, a price-to-earnings ratio of 13.01, a PEG ratio of 1.93 and a beta of 0.55. The company has a 50-day simple moving average of $66.56 and a two-hundred day simple moving average of $69.33. 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 plc has a 12-month low of $60.34 and a 12-month high of $74.61.

Shell Announces Dividend

The business also recently disclosed 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. This represents a $2.75 dividend on an annualized basis and a dividend yield of 4.35%. The ex-dividend date is Friday, November 15th. Shell’s dividend payout ratio (DPR) is presently 56.58%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on SHEL. Barclays upgraded Shell to a “strong-buy” rating in a research note on Wednesday, October 2nd. Sanford C. Bernstein raised shares of Shell to a “strong-buy” rating in a research note on Friday, October 11th. Scotiabank cut 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 note on Thursday, October 10th. Wells Fargo & Company raised their price objective on shares of Shell from $84.00 to $88.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Finally, Citigroup raised Shell to a “hold” rating in a research note on Wednesday, October 2nd. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average 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.