Shell plc (NYSE:SHEL) Shares Sold by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS trimmed its holdings in shares of Shell plc (NYSE:SHEL) by 2.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 466,167 shares of the energy company’s stock after selling 10,576 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Shell were worth $30,744,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC grew its position in shares of Shell by 1,293.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 6,898 shares of the energy company’s stock valued at $462,000 after acquiring an additional 6,403 shares during the period. Norden Group LLC increased its position in shares of Shell by 72.5% in the first quarter. Norden Group LLC now owns 10,015 shares of the energy company’s stock valued at $671,000 after buying an additional 4,210 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Shell by 5.8% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 116,199 shares of the energy company’s stock valued at $7,790,000 after buying an additional 6,356 shares in the last quarter. ORG Partners LLC acquired a new position in Shell during the first quarter worth $195,000. Finally, JCIC Asset Management Inc. increased its stake in shares of Shell by 0.8% during the first quarter. JCIC Asset Management Inc. now owns 45,504 shares of the energy company’s stock worth $3,051,000 after purchasing an additional 375 shares in the last quarter. 28.60% of the stock is owned by institutional investors and hedge funds.

Shell Stock Up 0.2 %

SHEL traded up $0.16 on Thursday, reaching $68.51. The company’s stock had a trading volume of 851,590 shares, compared to its average volume of 4,194,326. 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 plc has a fifty-two week low of $60.34 and a fifty-two week high of $74.61. The stock has a 50 day moving average of $67.81 and a two-hundred day moving average of $70.45. The company has a market capitalization of $213.21 billion, a price-to-earnings ratio of 14.07, a P/E/G ratio of 2.04 and a beta of 0.56.

Shell Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, November 15th will be given a $0.688 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.75 dividend on an annualized basis and a yield of 4.02%. Shell’s dividend payout ratio (DPR) is presently 56.58%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on SHEL. Sanford C. Bernstein upgraded Shell to a “strong-buy” rating in a research report on Friday, October 11th. Berenberg Bank upgraded Shell to a “strong-buy” rating in a research report on Monday, August 5th. Wells Fargo & Company raised their target price 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 research report on Wednesday, October 2nd. Finally, Royal Bank of Canada upgraded Shell to a “moderate buy” rating in a report on Tuesday, July 30th. Three research 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 company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $82.00.

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.