JCIC Asset Management Inc. Boosts Holdings in Shell plc (NYSE:SHEL)

JCIC Asset Management Inc. increased its stake in Shell plc (NYSE:SHEL) by 0.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,522 shares of the energy company’s stock after buying an additional 230 shares during the period. Shell accounts for 1.2% of JCIC Asset Management Inc.’s portfolio, making the stock its 28th largest position. JCIC Asset Management Inc.’s holdings in Shell were worth $3,002,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also bought and sold shares of SHEL. Empyrean Capital Partners LP bought a new position in shares of Shell in the 2nd quarter worth about $151,578,000. Mondrian Investment Partners LTD lifted its holdings in shares of Shell by 83.2% during the first quarter. Mondrian Investment Partners LTD now owns 2,187,872 shares of the energy company’s stock valued at $146,675,000 after purchasing an additional 993,342 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of 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 worth $450,180,000 after purchasing an additional 772,736 shares in the last quarter. Raymond James & Associates grew its stake in shares of Shell by 65.7% in the 2nd quarter. Raymond James & Associates now owns 1,698,247 shares of the energy company’s stock worth $122,579,000 after buying an additional 673,624 shares during the last quarter. Finally, Senator Investment Group LP purchased a new position in Shell during the first quarter valued at $42,775,000. 28.60% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on SHEL shares. Wells Fargo & Company raised their price target on Shell from $84.00 to $88.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Citigroup raised shares of Shell to a “hold” rating in a report on Wednesday, October 2nd. Scotiabank cut their price target on shares of Shell from $90.00 to $80.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Wolfe Research assumed coverage on Shell in a research report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Finally, Royal Bank of Canada raised Shell to a “moderate buy” rating in a report on Tuesday, July 30th. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $82.00.

Shell Price Performance

Shares of SHEL opened at $66.53 on Thursday. The firm has a market cap of $207.05 billion, a PE ratio of 11.88, a P/E/G ratio of 1.55 and a beta of 0.56. Shell plc has a 1-year low of $60.34 and a 1-year high of $74.61. The company has a current ratio of 1.41, a quick ratio of 1.12 and a debt-to-equity ratio of 0.35. The firm has a fifty day simple moving average of $68.87 and a two-hundred day simple moving average of $70.79.

Shell (NYSE:SHEL) last announced its earnings results on Thursday, August 1st. The energy company reported $1.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.82 by $0.15. Shell had a return on equity of 14.56% and a net margin of 5.97%. The business had revenue of $75.06 billion for the quarter, compared to analysts’ expectations of $88.62 billion. During the same period last year, the firm posted $1.50 earnings per share. On average, equities analysts anticipate that Shell plc will post 8.45 EPS for the current year.

Shell Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Friday, August 16th were paid a dividend of $0.688 per share. This represents a $2.75 annualized dividend and a dividend yield of 4.14%. The ex-dividend date of this dividend was Friday, August 16th. Shell’s dividend payout ratio is presently 49.11%.

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.