M&T Bank Corp Lowers Position in Shell plc (NYSE:SHEL)

M&T Bank Corp cut its stake in Shell plc (NYSE:SHEL) by 1.8% in the 4th quarter, HoldingsChannel.com reports. The firm owned 214,525 shares of the energy company’s stock after selling 3,995 shares during the quarter. M&T Bank Corp’s holdings in Shell were worth $13,440,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Assetmark Inc. raised its stake in shares of Shell by 3.0% in the fourth quarter. Assetmark Inc. now owns 51,077 shares of the energy company’s stock worth $3,200,000 after purchasing an additional 1,497 shares during the last quarter. Cookson Peirce & Co. Inc. purchased a new stake in shares of Shell during the fourth quarter valued at approximately $774,000. Glass Wealth Management Co LLC increased its position in shares of Shell by 1.5% during the fourth quarter. Glass Wealth Management Co LLC now owns 43,463 shares of the energy company’s stock valued at $2,723,000 after acquiring an additional 645 shares during the last quarter. Horan Capital Advisors LLC. increased its position in shares of Shell by 0.8% during the fourth quarter. Horan Capital Advisors LLC. now owns 38,416 shares of the energy company’s stock valued at $2,407,000 after acquiring an additional 288 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Shell by 8.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 199,856 shares of the energy company’s stock valued at $12,521,000 after acquiring an additional 14,937 shares during the last quarter. 28.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on SHEL shares. Wells Fargo & Company decreased their price target on Shell from $86.00 to $82.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Wolfe Research raised Shell from a “peer perform” rating to an “outperform” rating and set a $80.00 price target for the company in a research report on Friday, January 3rd. UBS Group raised Shell from a “neutral” rating to a “buy” rating in a research report on Wednesday, January 8th. Morgan Stanley raised Shell from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $66.50 to $79.80 in a research report on Tuesday, January 7th. Finally, Piper Sandler decreased their target price on Shell from $82.00 to $72.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, Shell currently has a consensus rating of “Buy” and an average price target of $79.11.

Shell Price Performance

Shell stock opened at $66.06 on Thursday. Shell plc has a one year low of $60.15 and a one year high of $74.61. The business has a fifty day moving average price of $65.69 and a 200-day moving average price of $66.50. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.35 and a quick ratio of 1.10. The firm has a market capitalization of $200.89 billion, a P/E ratio of 13.16, a PEG ratio of 0.98 and a beta of 0.47.

Shell (NYSE:SHEL) last posted its quarterly earnings results on Thursday, January 30th. The energy company reported $1.20 EPS for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.54). Shell had a return on equity of 12.75% and a net margin of 5.57%. As a group, equities research analysts forecast that Shell plc will post 7.67 EPS for the current year.

Shell Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Friday, February 14th will be paid a dividend of $0.716 per share. This is a positive change from Shell’s previous quarterly dividend of $0.69. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.86 annualized dividend and a yield of 4.34%. Shell’s dividend payout ratio (DPR) is currently 56.97%.

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.