Jennison Associates LLC Buys 30,844 Shares of Shell plc (NYSE:SHEL)

Jennison Associates LLC boosted its stake in shares of Shell plc (NYSE:SHEL) by 1.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,045,043 shares of the energy company’s stock after acquiring an additional 30,844 shares during the quarter. Jennison Associates LLC owned 0.10% of Shell worth $190,772,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. FMR LLC boosted its stake in shares of Shell by 5.2% during the third quarter. FMR LLC now owns 65,298,943 shares of the energy company’s stock valued at $4,306,465,000 after purchasing an additional 3,255,347 shares during the period. Fisher Asset Management LLC boosted its position in Shell by 2.1% during the 3rd quarter. Fisher Asset Management LLC now owns 24,530,647 shares of the energy company’s stock valued at $1,617,796,000 after buying an additional 507,311 shares during the period. Franklin Resources Inc. increased its position in shares of Shell by 0.9% in the third quarter. Franklin Resources Inc. now owns 5,972,945 shares of the energy company’s stock valued at $408,430,000 after acquiring an additional 55,637 shares during the period. Mawer Investment Management Ltd. raised its stake in shares of Shell by 8.7% during the third quarter. Mawer Investment Management Ltd. now owns 5,282,868 shares of the energy company’s stock valued at $348,405,000 after acquiring an additional 422,329 shares during the last quarter. Finally, Holocene Advisors LP grew its stake in shares of Shell by 29.8% in the third quarter. Holocene Advisors LP now owns 3,773,617 shares of the energy company’s stock worth $248,870,000 after purchasing an additional 866,954 shares during the last quarter. 28.60% of the stock is currently owned by institutional investors.

Shell Stock Performance

Shell stock opened at $65.82 on Monday. The stock’s 50 day moving average is $64.17 and its 200 day moving average is $67.28. The company has a market capitalization of $201.23 billion, a P/E ratio of 13.11, a PEG ratio of 6.57 and a beta of 0.54. Shell plc has a twelve month low of $60.15 and a twelve month high of $74.61. The company has a quick ratio of 1.10, a current ratio of 1.35 and a debt-to-equity ratio of 0.36.

Shell (NYSE:SHEL) last posted its quarterly earnings results on Thursday, January 30th. The energy company reported $1.20 earnings per share for the quarter, missing the consensus estimate of $1.74 by ($0.54). Shell had a return on equity of 12.75% and a net margin of 5.57%. On average, equities research analysts predict that Shell plc will post 7.27 earnings per share for the current fiscal year.

Shell Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Friday, February 14th will be paid a $0.716 dividend. The ex-dividend date of this dividend is Friday, February 14th. This is a positive change from Shell’s previous quarterly dividend of $0.69. This represents a $2.86 dividend on an annualized basis and a dividend yield of 4.35%. Shell’s payout ratio is currently 54.78%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on SHEL shares. Scotiabank dropped their price objective on Shell from $90.00 to $80.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. UBS Group upgraded shares of Shell from a “neutral” rating to a “buy” rating in a report on Wednesday, January 8th. Sanford C. Bernstein upgraded shares of Shell to a “strong-buy” rating in a report on Friday, October 11th. Morgan Stanley raised shares of Shell from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $66.50 to $79.80 in a research note on Tuesday, January 7th. Finally, Wolfe Research upgraded shares of Shell from a “peer perform” rating to an “outperform” rating and set a $80.00 price objective for the company in a report on Friday, January 3rd. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $79.11.

About Shell

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.