M&T Bank Corp Has $14.41 Million Holdings in Shell plc (NYSE:SHEL)

M&T Bank Corp lessened its holdings in shares of Shell plc (NYSE:SHEL) by 1.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund 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.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Hobbs Group Advisors LLC acquired a new position in Shell during the 2nd quarter worth $26,000. Fortitude Family Office LLC acquired a new position in shares of Shell during the third quarter valued at $30,000. Triad Wealth Partners LLC bought a new position in Shell in the second quarter valued at about $31,000. Fairscale Capital LLC bought a new stake in Shell during the 2nd quarter worth about $33,000. Finally, Valley Wealth Managers Inc. acquired a new position in Shell during the 3rd quarter valued at about $33,000. 28.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SHEL has been the subject of a number of recent research reports. Scotiabank cut their price objective on shares of Shell from $90.00 to $80.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Barclays raised Shell to a “strong-buy” rating in a research note on Wednesday, October 2nd. Sanford C. Bernstein upgraded Shell to a “strong-buy” rating in a report on Friday, October 11th. Citigroup upgraded Shell to a “hold” rating in a report on Wednesday, October 2nd. Finally, Wells Fargo & Company reduced their price objective on shares of Shell from $88.00 to $87.00 and set an “overweight” rating on the stock in a research note on Monday. Three analysts have rated the stock with a hold rating, four have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $81.75.

Shell Trading Down 0.5 %

SHEL opened at $64.39 on Wednesday. The firm’s fifty day simple moving average is $66.48 and its 200 day simple moving average is $69.25. Shell plc has a 12 month low of $60.34 and a 12 month high of $74.61. The stock has a market capitalization of $199.32 billion, a P/E ratio of 13.25, a P/E/G ratio of 1.94 and a beta of 0.55. The company has a current ratio of 1.40, a quick ratio of 1.13 and a debt-to-equity ratio of 0.34.

Shell Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.688 per share. The ex-dividend date is Friday, November 15th. This represents a $2.75 annualized dividend and a dividend yield of 4.27%. Shell’s dividend payout ratio is currently 56.58%.

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.