Grove Bank & Trust Trims Stock Holdings in Shell plc (NYSE:SHEL)

Grove Bank & Trust lessened its stake in shares of Shell plc (NYSE:SHEL) by 8.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,019 shares of the energy company’s stock after selling 270 shares during the quarter. Grove Bank & Trust’s holdings in Shell were worth $199,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in SHEL. Lazard Asset Management LLC raised its position in Shell by 21.0% in the first quarter. Lazard Asset Management LLC now owns 44,896 shares of the energy company’s stock valued at $3,009,000 after purchasing an additional 7,779 shares during the period. Creative Planning boosted its position in Shell by 11.3% in the 2nd quarter. Creative Planning now owns 292,587 shares of the energy company’s stock valued at $21,119,000 after buying an additional 29,677 shares during the period. Raymond James & Associates raised its position in Shell by 65.7% in the 2nd quarter. Raymond James & Associates now owns 1,698,247 shares of the energy company’s stock valued at $122,579,000 after purchasing an additional 673,624 shares in the last quarter. Foresight Global Investors Inc. acquired a new position in shares of Shell during the second quarter worth about $1,472,000. Finally, Norden Group LLC raised its holdings in Shell by 2,843.4% in the first quarter. Norden Group LLC now owns 170,867 shares of the energy company’s stock valued at $11,455,000 after acquiring an additional 165,062 shares in the last quarter. 28.60% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Citigroup upgraded shares of Shell to a “hold” rating in a report on Wednesday, October 2nd. Berenberg Bank raised Shell to a “strong-buy” rating in a research report on Monday, August 5th. Scotiabank cut 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. Royal Bank of Canada raised Shell to a “moderate buy” rating in a report on Tuesday, July 30th. Finally, Barclays upgraded shares of Shell to a “strong-buy” rating in a research report on Wednesday, October 2nd. Three equities research analysts have rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $82.00.

Shell Stock Performance

Shares of SHEL opened at $68.39 on Tuesday. Shell plc has a 12-month low of $60.34 and a 12-month high of $74.61. The company has a current ratio of 1.41, a quick ratio of 1.12 and a debt-to-equity ratio of 0.35. The firm has a market cap of $216.25 billion, a PE ratio of 12.62, a price-to-earnings-growth ratio of 1.57 and a beta of 0.56. The company’s 50 day simple moving average is $69.58 and its 200-day simple moving average is $70.92.

Shell (NYSE:SHEL) last announced its earnings results on Thursday, August 1st. The energy company reported $1.97 earnings per share for the quarter, topping the consensus estimate of $1.82 by $0.15. The business had revenue of $75.06 billion during the quarter, compared to the consensus estimate of $88.62 billion. Shell had a net margin of 5.97% and a return on equity of 14.56%. During the same quarter in the prior year, the firm earned $1.50 earnings per share. As a group, equities analysts predict that Shell plc will post 8.44 EPS for the current year.

Shell Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Friday, August 16th were issued a dividend of $0.688 per share. This represents a $2.75 annualized dividend and a dividend yield of 4.02%. The ex-dividend date was Friday, August 16th. Shell’s dividend payout ratio is presently 50.74%.

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.