Harvest Portfolios Group Inc. Has $17.85 Million Position in Shell plc (NYSE:SHEL)

Harvest Portfolios Group Inc. boosted its holdings in shares of Shell plc (NYSE:SHEL) by 3.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 270,631 shares of the energy company’s stock after buying an additional 8,725 shares during the period. Harvest Portfolios Group Inc.’s holdings in Shell were worth $17,848,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its position in Shell by 0.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 22,722,317 shares of the energy company’s stock valued at $1,640,082,000 after buying an additional 96,549 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Shell by 13.0% in the first 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 purchasing an additional 772,736 shares during the last quarter. Westwood Global Investments LLC boosted its holdings in Shell by 4.1% during the second quarter. Westwood Global Investments LLC now owns 2,546,523 shares of the energy company’s stock worth $183,808,000 after purchasing an additional 100,379 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Shell by 6.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 2,248,366 shares of the energy company’s stock worth $162,287,000 after buying an additional 136,139 shares in the last quarter. Finally, Mondrian Investment Partners LTD grew its holdings in shares of Shell by 83.2% in 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 acquiring an additional 993,342 shares in the last quarter. 28.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SHEL has been the subject of a number of recent analyst reports. Wells Fargo & Company upped their price objective on Shell from $84.00 to $88.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Scotiabank decreased their price objective on shares of Shell from $90.00 to $80.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Citigroup upgraded shares of Shell to a “hold” rating in a research note on Wednesday, October 2nd. Wolfe Research started coverage on shares of Shell in a research note on Thursday, July 18th. They set a “peer perform” rating for the company. Finally, Sanford C. Bernstein raised Shell to a “strong-buy” rating in a report on Friday, October 11th. Three investment 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 company. According to MarketBeat, Shell has a consensus rating of “Buy” and a consensus target price of $82.00.

Shell Stock Performance

NYSE SHEL opened at $67.16 on Wednesday. The company’s 50 day simple moving average is $67.88 and its two-hundred day simple moving average is $70.47. The stock has a market capitalization of $209.01 billion, a PE ratio of 14.04, a P/E/G ratio of 1.86 and a beta of 0.56. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.40 and a quick ratio of 1.13. Shell plc has a 1 year low of $60.34 and a 1 year high of $74.61.

Shell Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, November 15th will be given a dividend of $0.688 per share. This represents a $2.75 annualized dividend and a yield of 4.10%. The ex-dividend date is Friday, November 15th. Shell’s payout ratio is 56.58%.

Shell Company 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.