AMG National Trust Bank Trims Stock Holdings in Shell plc (NYSE:SHEL)

AMG National Trust Bank trimmed its holdings in shares of Shell plc (NYSE:SHEL) by 33.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,231 shares of the energy company’s stock after selling 2,171 shares during the quarter. AMG National Trust Bank’s holdings in Shell were worth $279,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in SHEL. Empyrean Capital Partners LP purchased a new position in shares of Shell in the 2nd quarter worth approximately $151,578,000. Price T Rowe Associates Inc. MD increased its stake in Shell by 13.0% during the 1st 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 in the last quarter. Raymond James & Associates raised its holdings in shares of Shell by 65.7% in the second 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. Senator Investment Group LP acquired a new position in shares of Shell in the first quarter valued at about $42,775,000. Finally, Mediolanum International Funds Ltd acquired a new stake in shares of Shell during the third quarter worth about $37,274,000. 28.60% of the stock is owned by hedge funds and other institutional investors.

Shell Stock Down 0.8 %

Shares of SHEL opened at $65.78 on Wednesday. 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 has a market cap of $203.62 billion, a P/E ratio of 13.54, a price-to-earnings-growth ratio of 1.96 and a beta of 0.56. The company’s 50-day moving average price is $67.31 and its 200 day moving average price is $70.09. Shell plc has a 12-month low of $60.34 and a 12-month high of $74.61.

Shell Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.688 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.75 dividend on an annualized basis and a yield of 4.18%. Shell’s dividend payout ratio (DPR) is presently 56.58%.

Analyst Upgrades and Downgrades

SHEL has been the topic of several recent research reports. Scotiabank lowered their price objective on Shell from $90.00 to $80.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Citigroup upgraded Shell to a “hold” rating in a research report on Wednesday, October 2nd. Royal Bank of Canada upgraded Shell to a “moderate buy” rating in a research report on Tuesday, July 30th. Wells Fargo & Company upped their price objective on shares of Shell from $84.00 to $88.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Finally, Barclays upgraded Shell to a “strong-buy” rating in a report on Wednesday, October 2nd. Three research analysts have rated the stock with a hold rating, four have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $82.00.

About Shell

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.