M&T Bank Corp Has $13.44 Million Stock Position in Shell plc (NYSE:SHEL)

M&T Bank Corp lowered its holdings in shares of Shell plc (NYSE:SHEL) by 1.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 214,525 shares of the energy company’s stock after selling 3,995 shares during the period. M&T Bank Corp’s holdings in Shell were worth $13,440,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Farther Finance Advisors LLC increased its holdings in Shell by 9.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 8,706 shares of the energy company’s stock worth $574,000 after purchasing an additional 756 shares in the last quarter. Moloney Securities Asset Management LLC increased its holdings in Shell by 6.6% in the 3rd quarter. Moloney Securities Asset Management LLC now owns 3,416 shares of the energy company’s stock worth $225,000 after purchasing an additional 210 shares in the last quarter. Crestwood Advisors Group LLC increased its holdings in Shell by 74.7% in the 3rd quarter. Crestwood Advisors Group LLC now owns 9,813 shares of the energy company’s stock worth $647,000 after purchasing an additional 4,196 shares in the last quarter. HF Advisory Group LLC increased its stake in shares of Shell by 8.5% in the third quarter. HF Advisory Group LLC now owns 25,532 shares of the energy company’s stock valued at $1,684,000 after buying an additional 1,993 shares during the period. Finally, Marks Group Wealth Management Inc increased its stake in shares of Shell by 2.1% in the third quarter. Marks Group Wealth Management Inc now owns 12,415 shares of the energy company’s stock valued at $819,000 after buying an additional 257 shares during the period. Institutional investors and hedge funds own 28.60% of the company’s stock.

Analyst Ratings Changes

SHEL has been the subject of several recent research reports. 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 note on Friday, January 31st. UBS Group raised Shell from a “neutral” rating to a “buy” rating in a research note on Wednesday, January 8th. Morgan Stanley raised Shell from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $66.50 to $79.80 in a research note on Tuesday, January 7th. Wolfe Research upgraded Shell from a “peer perform” rating to an “outperform” rating and set a $80.00 target price on the stock in a research report on Friday, January 3rd. Finally, Piper Sandler cut their target price on Shell from $82.00 to $72.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Shell currently has an average rating of “Buy” and an average target price of $79.11.

Shell Stock Down 0.2 %

Shares of NYSE:SHEL opened at $66.06 on Thursday. The business’s 50 day simple moving average is $65.69 and its two-hundred day simple moving average is $66.50. The firm has a market cap of $200.89 billion, a P/E ratio of 13.16, a PEG ratio of 0.98 and a beta of 0.47. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.10 and a current ratio of 1.35. Shell plc has a 52-week low of $60.15 and a 52-week high of $74.61.

Shell (NYSE:SHEL) last announced its quarterly earnings results on Thursday, January 30th. The energy company reported $1.20 earnings per share (EPS) for the quarter, missing the consensus estimate 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, research analysts forecast that Shell plc will post 7.67 EPS for the current fiscal year.

Shell Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Friday, February 14th will be issued a $0.716 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.86 annualized dividend and a yield of 4.34%. This is a positive change from Shell’s previous quarterly dividend of $0.69. Shell’s dividend payout ratio is presently 56.97%.

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.