Baldwin Investment Management LLC Trims Stock Position in Shell plc (NYSE:SHEL)

Baldwin Investment Management LLC trimmed its holdings in shares of Shell plc (NYSE:SHEL) by 3.7% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 8,682 shares of the energy company’s stock after selling 337 shares during the quarter. Baldwin Investment Management LLC’s holdings in Shell were worth $573,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SHEL. FMR LLC lifted its position in shares of Shell by 5.2% during the 3rd quarter. FMR LLC now owns 65,298,943 shares of the energy company’s stock valued at $4,306,465,000 after buying an additional 3,255,347 shares in the last quarter. Empyrean Capital Partners LP purchased a new position in Shell during the second quarter valued at $151,578,000. Jennison Associates LLC lifted its stake in Shell by 188.0% in 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 in the last quarter. Raymond James & Associates grew 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 purchasing an additional 673,624 shares in the last quarter. Finally, Mediolanum International Funds Ltd bought a new stake in shares of Shell in the third quarter worth about $37,274,000. 28.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on SHEL shares. 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 report on Tuesday, October 8th. Barclays upgraded Shell to a “strong-buy” rating in a research report on Wednesday, October 2nd. Citigroup upgraded Shell to a “hold” rating in a report on Wednesday, October 2nd. Sanford C. Bernstein upgraded Shell to a “strong-buy” rating in a research report on Friday, October 11th. Finally, Berenberg Bank upgraded shares of Shell to a “strong-buy” rating in a research report on Monday, August 5th. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $82.00.

Shell Stock Performance

Shares of Shell stock opened at $64.90 on Thursday. Shell plc has a 52 week low of $60.34 and a 52 week high of $74.61. The company has a market capitalization of $200.89 billion, a PE ratio of 13.35, a price-to-earnings-growth ratio of 1.95 and a beta of 0.56. The stock’s fifty day moving average is $67.12 and its two-hundred day moving average is $69.77. 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, November 15th will be issued a dividend of $0.688 per share. The ex-dividend date is Friday, November 15th. This represents a $2.75 dividend on an annualized basis and a yield of 4.24%. Shell’s payout ratio is 56.58%.

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.