Shell plc (NYSE:SHEL) Shares Sold by Grove Bank & Trust

Grove Bank & Trust trimmed its holdings in Shell plc (NYSE:SHEL) by 16.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,512 shares of the energy company’s stock after selling 507 shares during the quarter. Grove Bank & Trust’s holdings in Shell were worth $157,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Fortitude Family Office LLC purchased a new stake in Shell in the third quarter valued at approximately $30,000. Fairscale Capital LLC purchased a new stake in Shell in the second quarter valued at approximately $33,000. Valley Wealth Managers Inc. purchased a new stake in Shell in the third quarter valued at approximately $33,000. Brooklyn Investment Group purchased a new stake in Shell in the third quarter valued at approximately $35,000. Finally, GHP Investment Advisors Inc. raised its position in Shell by 40.8% in the third quarter. GHP Investment Advisors Inc. now owns 563 shares of the energy company’s stock valued at $37,000 after purchasing an additional 163 shares during the period. 28.60% of the stock is owned by hedge funds and other institutional investors.

Shell Stock Performance

Shares of SHEL stock opened at $66.74 on Tuesday. 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 plc has a 12 month low of $60.15 and a 12 month high of $74.61. The company has a market cap of $205.36 billion, a P/E ratio of 13.73, a PEG ratio of 5.60 and a beta of 0.55. The firm has a fifty day moving average price of $64.19 and a 200 day moving average price of $67.74.

Shell Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Friday, November 15th were paid a $0.688 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $2.75 annualized dividend and a yield of 4.12%. Shell’s dividend payout ratio is presently 56.58%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SHEL. Sanford C. Bernstein raised Shell to a “strong-buy” rating in a research report on Friday, October 11th. Morgan Stanley upgraded shares of Shell from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $66.50 to $79.80 in a research note on Tuesday, January 7th. Scotiabank dropped their price target on shares of Shell from $90.00 to $80.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. UBS Group upgraded shares of Shell from a “neutral” rating to a “buy” rating in a research note on Wednesday, January 8th. Finally, Citigroup upgraded shares of Shell to a “hold” rating in a research note on Wednesday, October 2nd. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $79.69.

About Shell

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.