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

M&T Bank Corp reduced its stake in Shell plc (NYSE:SHEL) by 1.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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.

Several other hedge funds also recently added to or reduced their stakes in the stock. Coldstream Capital Management Inc. raised its holdings in shares of Shell by 11.3% during the 3rd quarter. Coldstream Capital Management Inc. now owns 12,183 shares of the energy company’s stock valued at $803,000 after buying an additional 1,240 shares during the period. MML Investors Services LLC raised its stake in shares of Shell by 1.4% during the third quarter. MML Investors Services LLC now owns 126,821 shares of the energy company’s stock valued at $8,364,000 after purchasing an additional 1,794 shares during the period. Orion Portfolio Solutions LLC lifted its position in shares of Shell by 6.9% during the third quarter. Orion Portfolio Solutions LLC now owns 63,004 shares of the energy company’s stock worth $4,155,000 after purchasing an additional 4,074 shares in the last quarter. XTX Topco Ltd acquired a new stake in Shell during the 3rd quarter valued at $2,511,000. Finally, Yaupon Capital Management LP lifted its holdings in Shell by 35.5% in the 3rd quarter. Yaupon Capital Management LP now owns 693,641 shares of the energy company’s stock worth $45,746,000 after buying an additional 181,601 shares in the last quarter. 28.60% of the stock is owned by hedge funds and other institutional investors.

Shell Trading Down 0.2 %

Shares of NYSE:SHEL opened at $60.64 on Friday. Shell plc has a fifty-two week low of $60.15 and a fifty-two week high of $74.61. The company has a quick ratio of 1.13, a current ratio of 1.40 and a debt-to-equity ratio of 0.34. The company has a market cap of $186.60 billion, a PE ratio of 12.48, a P/E/G ratio of 4.84 and a beta of 0.55. The company’s 50-day moving average price is $65.47 and its 200 day moving average price is $68.76.

Shell Dividend Announcement

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

Analyst Ratings Changes

SHEL has been the topic of a number of analyst reports. Scotiabank dropped their target price 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. Sanford C. Bernstein raised Shell to a “strong-buy” rating in a research report on Friday, October 11th. Wells Fargo & Company decreased their price target on shares of Shell from $88.00 to $87.00 and set an “overweight” rating for the company in a research report on Monday, December 9th. Barclays upgraded shares of Shell to a “strong-buy” rating in a research note on Wednesday, October 2nd. Finally, Citigroup upgraded Shell to a “hold” rating in a research note on Wednesday, October 2nd. Two research analysts have rated the stock with a hold rating, five have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, Shell currently has an average rating of “Buy” and a consensus target price 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.