Shell plc (NYSE:SHEL) Shares Sold by M&T Bank Corp

M&T Bank Corp reduced its position in shares of Shell plc (NYSE:SHEL) by 1.9% in the third quarter, HoldingsChannel.com reports. The firm owned 218,520 shares of the energy company’s stock after selling 4,261 shares during the period. M&T Bank Corp’s holdings in Shell were worth $14,412,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of SHEL. FMR LLC increased its stake in Shell by 5.2% in the 3rd quarter. FMR LLC now owns 65,298,943 shares of the energy company’s stock worth $4,306,465,000 after purchasing an additional 3,255,347 shares in the last quarter. Fisher Asset Management LLC increased its holdings in shares of Shell by 2.1% in the 3rd quarter. Fisher Asset Management LLC now owns 24,530,647 shares of the energy company’s stock valued at $1,617,796,000 after purchasing an additional 507,311 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Shell by 0.4% during the second quarter. Dimensional Fund Advisors LP now owns 22,722,317 shares of the energy company’s stock worth $1,640,082,000 after purchasing an additional 96,549 shares during the period. Mawer Investment Management Ltd. increased its stake in Shell by 8.7% in the 3rd quarter. Mawer Investment Management Ltd. now owns 5,282,868 shares of the energy company’s stock valued at $348,405,000 after buying an additional 422,329 shares during the period. Finally, Holocene Advisors LP boosted its stake in shares of Shell by 29.8% during the 3rd 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. Institutional investors own 28.60% of the company’s stock.

Shell Stock Performance

NYSE:SHEL opened at $60.64 on Friday. The firm has a market capitalization of $186.60 billion, a PE ratio of 12.48, a PEG ratio of 4.84 and a beta of 0.55. Shell plc has a 1 year low of $60.15 and a 1 year high of $74.61. The company has a current ratio of 1.40, a quick ratio of 1.13 and a debt-to-equity ratio of 0.34. The firm’s fifty day simple moving average is $65.47 and its 200 day simple moving average is $68.76.

Shell Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Friday, November 15th were paid a $0.688 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $2.75 dividend on an annualized basis and a dividend yield of 4.54%. Shell’s payout ratio is presently 56.58%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SHEL. Wells Fargo & Company cut their price objective on Shell from $88.00 to $87.00 and set an “overweight” rating for the company in a report on Monday, December 9th. Citigroup upgraded Shell to a “hold” rating in a report on Wednesday, October 2nd. Sanford C. Bernstein raised shares of Shell to a “strong-buy” rating in a research report on Friday, October 11th. Scotiabank dropped their price target on shares of Shell from $90.00 to $80.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Finally, Barclays raised shares of Shell to a “strong-buy” rating in a research note on Wednesday, October 2nd. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, Shell has a consensus rating of “Buy” and a consensus price target of $79.80.

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.