Bank of Montreal Can Has $45.10 Million Stock Position in Shell plc (NYSE:SHEL)

Bank of Montreal Can lowered its holdings in shares of Shell plc (NYSE:SHEL) by 47.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 682,145 shares of the energy company’s stock after selling 613,244 shares during the period. Bank of Montreal Can’s holdings in Shell were worth $45,097,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in SHEL. Empyrean Capital Partners LP acquired a new stake in Shell during the second quarter worth approximately $151,578,000. Jennison Associates LLC boosted its holdings in Shell by 188.0% in the third quarter. Jennison Associates LLC now owns 3,014,199 shares of the energy company’s stock worth $198,786,000 after acquiring an additional 1,967,672 shares in the last quarter. Raymond James & Associates boosted its holdings in Shell by 65.7% in the second quarter. Raymond James & Associates now owns 1,698,247 shares of the energy company’s stock worth $122,579,000 after acquiring an additional 673,624 shares in the last quarter. Mediolanum International Funds Ltd bought a new position in Shell in the third quarter worth approximately $37,274,000. Finally, Fisher Asset Management LLC boosted its holdings in Shell by 2.1% in the third quarter. Fisher Asset Management LLC now owns 24,530,647 shares of the energy company’s stock worth $1,617,796,000 after acquiring an additional 507,311 shares in the last quarter. Institutional investors and hedge funds own 28.60% of the company’s stock.

Shell Price Performance

NYSE:SHEL opened at $64.90 on Thursday. The firm has a market capitalization of $200.89 billion, a price-to-earnings ratio of 13.35, a P/E/G ratio of 1.95 and a beta of 0.56. Shell plc has a 52-week low of $60.34 and a 52-week high of $74.61. The stock has a fifty day moving average of $67.12 and a 200 day moving average of $69.77. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.13 and a current ratio of 1.40.

Shell Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.688 per share. This represents a $2.75 annualized dividend and a yield of 4.24%. The ex-dividend date of this dividend is Friday, November 15th. Shell’s dividend payout ratio (DPR) is currently 56.58%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Barclays upgraded Shell to a “strong-buy” rating in a report on Wednesday, October 2nd. Citigroup upgraded 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 decreased their target price on Shell from $90.00 to $80.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Finally, Wells Fargo & Company lifted their price target on Shell from $84.00 to $88.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Three equities research analysts have rated the stock with a hold rating, four have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $82.00.

Shell 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.