Lord Abbett & CO. LLC Has $190.83 Million Stake in Shell plc (NYSE:SHEL)

Lord Abbett & CO. LLC cut its stake in shares of Shell plc (NYSE:SHEL) by 5.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,893,604 shares of the energy company’s stock after selling 168,057 shares during the quarter. Lord Abbett & CO. LLC owned approximately 0.09% of Shell worth $190,833,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. FMR LLC boosted its holdings in Shell by 5.2% in the third quarter. FMR LLC now owns 65,298,943 shares of the energy company’s stock valued at $4,306,465,000 after acquiring an additional 3,255,347 shares during the last quarter. Empyrean Capital Partners LP bought a new stake in shares of Shell in the 2nd quarter valued at $151,578,000. Jennison Associates LLC increased its position in shares of Shell by 188.0% during the third quarter. Jennison Associates LLC now owns 3,014,199 shares of the energy company’s stock worth $198,786,000 after buying an additional 1,967,672 shares during the period. Holocene Advisors LP lifted its holdings in Shell by 29.8% in the third quarter. Holocene Advisors LP now owns 3,773,617 shares of the energy company’s stock valued at $248,870,000 after buying an additional 866,954 shares during the period. Finally, Raymond James & Associates boosted its position in 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. Institutional investors own 28.60% of the company’s stock.

Shell Trading Down 0.7 %

SHEL opened at $63.53 on Friday. The firm has a market capitalization of $196.65 billion, a PE ratio of 13.07, a P/E/G ratio of 4.92 and a beta of 0.55. 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 fifty-two week low of $60.34 and a fifty-two week high of $74.61. The company’s 50-day moving average is $66.23 and its 200 day moving average is $69.13.

Shell Dividend Announcement

The business 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. The ex-dividend date is Friday, November 15th. This represents a $2.75 annualized dividend and a dividend yield of 4.33%. Shell’s payout ratio is 56.58%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on SHEL shares. Citigroup raised Shell to a “hold” rating in a research note on Wednesday, October 2nd. Barclays upgraded Shell to a “strong-buy” rating in a report on Wednesday, October 2nd. Scotiabank lowered their price objective on shares of Shell from $90.00 to $80.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Sanford C. Bernstein upgraded shares of Shell to a “strong-buy” rating in a report on Friday, October 11th. Finally, Wells Fargo & Company dropped their price objective on shares of Shell from $88.00 to $87.00 and set an “overweight” rating on the stock in a report on Monday, December 9th. Two research analysts have rated the stock with a hold rating, four have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, Shell presently has an average rating of “Buy” and an average target price of $81.75.

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.