M&T Bank Corp Decreases Stock Holdings in Shell plc (NYSE:SHEL)

M&T Bank Corp cut its stake in shares of Shell plc (NYSE:SHEL) by 1.7% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 226,686 shares of the energy company’s stock after selling 3,990 shares during the period. M&T Bank Corp’s holdings in Shell were worth $14,916,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SHEL. Private Trust Co. NA lifted its stake in Shell by 14.7% in the 4th quarter. Private Trust Co. NA now owns 10,532 shares of the energy company’s stock valued at $693,000 after buying an additional 1,348 shares in the last quarter. FMR LLC boosted its stake in shares of Shell by 29.1% in the third quarter. FMR LLC now owns 29,087,703 shares of the energy company’s stock worth $1,872,666,000 after acquiring an additional 6,554,340 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Shell by 5.9% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 109,843 shares of the energy company’s stock worth $7,228,000 after purchasing an additional 6,138 shares in the last quarter. LPL Financial LLC raised its stake in Shell by 11.0% in the 3rd quarter. LPL Financial LLC now owns 633,287 shares of the energy company’s stock valued at $40,771,000 after purchasing an additional 62,792 shares during the last quarter. Finally, Synovus Financial Corp boosted its stake in Shell by 16.2% during the 3rd quarter. Synovus Financial Corp now owns 71,350 shares of the energy company’s stock worth $4,594,000 after purchasing an additional 9,924 shares during the last quarter. 28.60% of the stock is owned by hedge funds and other institutional investors.

Shell Trading Up 0.4 %

Shares of SHEL stock traded up $0.26 during trading on Friday, hitting $72.37. 4,407,390 shares of the stock traded hands, compared to its average volume of 4,739,239. The firm has a market capitalization of $232.86 billion, a P/E ratio of 13.35, a price-to-earnings-growth ratio of 1.72 and a beta of 0.59. Shell plc has a 52-week low of $55.78 and a 52-week high of $73.94. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.40 and a quick ratio of 1.13. The firm’s fifty day moving average price is $68.43 and its 200-day moving average price is $66.03.

Shell (NYSE:SHEL) last announced its quarterly earnings results on Thursday, February 1st. The energy company reported $2.22 EPS for the quarter, beating the consensus estimate of $1.94 by $0.28. The business had revenue of $80.13 billion for the quarter, compared to analyst estimates of $89.59 billion. Shell had a return on equity of 13.78% and a net margin of 5.83%. During the same quarter in the prior year, the company posted $2.76 EPS. As a group, research analysts forecast that Shell plc will post 8.22 earnings per share for the current fiscal year.

Shell Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 24th. Shareholders of record on Friday, May 17th will be given a dividend of $0.688 per share. The ex-dividend date is Thursday, May 16th. This is a boost from Shell’s previous quarterly dividend of $0.66. This represents a $2.75 dividend on an annualized basis and a dividend yield of 3.80%. Shell’s dividend payout ratio (DPR) is currently 50.74%.

Analysts Set New Price Targets

SHEL has been the topic of a number of recent research reports. TD Securities boosted their price target on shares of Shell from $74.00 to $81.00 and gave the stock a “buy” rating in a research report on Friday. TheStreet upgraded Shell from a “c” rating to a “b-” rating in a research report on Monday, January 29th. Finally, Wells Fargo & Company lifted their price objective on Shell from $88.00 to $91.00 and gave the stock an “overweight” rating in a research report on Friday. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $66.50.

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.