Icon Wealth Advisors LLC Boosts Holdings in Shell plc (NYSE:SHEL)

Icon Wealth Advisors LLC raised its holdings in shares of Shell plc (NYSE:SHEL) by 1,120.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 42,194 shares of the energy company’s stock after buying an additional 38,737 shares during the quarter. Icon Wealth Advisors LLC’s holdings in Shell were worth $2,783,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in SHEL. Empyrean Capital Partners LP acquired a new position in Shell in the 2nd quarter valued at about $151,578,000. Jennison Associates LLC grew its holdings in shares of Shell by 188.0% during the 3rd quarter. Jennison Associates LLC now owns 3,014,199 shares of the energy company’s stock worth $198,786,000 after purchasing an additional 1,967,672 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Shell by 13.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,715,078 shares of the energy company’s stock valued at $450,180,000 after buying an additional 772,736 shares during the period. Raymond James & Associates increased its position in shares of Shell by 65.7% during the second quarter. Raymond James & Associates now owns 1,698,247 shares of the energy company’s stock valued at $122,579,000 after acquiring an additional 673,624 shares during the last quarter. Finally, Mediolanum International Funds Ltd purchased a new position in shares of Shell during the third quarter worth $37,274,000. 28.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SHEL has been the subject of several research reports. Wells Fargo & Company boosted their price target on shares of Shell from $84.00 to $88.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Sanford C. Bernstein raised shares of Shell to a “strong-buy” rating in a research report on Friday, October 11th. Citigroup raised Shell to a “hold” rating in a report on Wednesday, October 2nd. Royal Bank of Canada raised Shell to a “moderate buy” rating in a research report on Tuesday, July 30th. Finally, Scotiabank cut their target price on Shell from $90.00 to $80.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Three research analysts have rated the stock with a hold rating, four have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, Shell presently has an average rating of “Buy” and an average price target of $82.00.

Shell Stock Up 1.3 %

SHEL opened at $66.30 on Friday. The stock has a market capitalization of $205.21 billion, a P/E ratio of 13.64, a price-to-earnings-growth ratio of 1.97 and a beta of 0.56. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.13 and a current ratio of 1.40. Shell plc has a one year low of $60.34 and a one year high of $74.61. The business’s 50-day simple moving average is $67.28 and its 200-day simple moving average is $69.99.

Shell Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, November 15th will be paid a $0.688 dividend. This represents a $2.75 dividend on an annualized basis and a yield of 4.15%. The ex-dividend date is Friday, November 15th. Shell’s dividend payout ratio is currently 56.58%.

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.