Montecito Bank & Trust Acquires 260 Shares of Shell plc (NYSE:SHEL)

Montecito Bank & Trust boosted its holdings in Shell plc (NYSE:SHEL) by 9.2% in the third quarter, Holdings Channel reports. The firm owned 3,095 shares of the energy company’s stock after purchasing an additional 260 shares during the quarter. Montecito Bank & Trust’s holdings in Shell were worth $204,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in SHEL. Allspring Global Investments Holdings LLC lifted its stake in Shell by 1,293.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 6,898 shares of the energy company’s stock valued at $462,000 after acquiring an additional 6,403 shares during the last quarter. Oppenheimer & Co. Inc. lifted its stake in Shell by 6.2% in the first quarter. Oppenheimer & Co. Inc. now owns 49,940 shares of the energy company’s stock valued at $3,348,000 after acquiring an additional 2,932 shares during the last quarter. PFG Advisors lifted its stake in Shell by 14.0% in the first quarter. PFG Advisors now owns 4,255 shares of the energy company’s stock valued at $285,000 after acquiring an additional 524 shares during the last quarter. Equity Investment Corp lifted its stake in Shell by 7.8% in the first quarter. Equity Investment Corp now owns 988,509 shares of the energy company’s stock valued at $66,270,000 after acquiring an additional 71,302 shares during the last quarter. Finally, Nvwm LLC lifted its stake in shares of Shell by 2.7% during the 1st quarter. Nvwm LLC now owns 12,853 shares of the energy company’s stock worth $862,000 after buying an additional 342 shares during the last quarter. Institutional investors and hedge funds own 28.60% of the company’s stock.

Shell Price Performance

Shares of Shell stock opened at $68.62 on Friday. Shell plc has a twelve month low of $60.34 and a twelve month high of $74.61. The company has a quick ratio of 1.13, a current ratio of 1.40 and a debt-to-equity ratio of 0.34. The company has a 50-day simple moving average of $67.73 and a two-hundred day simple moving average of $70.44. The stock has a market capitalization of $213.55 billion, a price-to-earnings ratio of 14.12, a price-to-earnings-growth ratio of 2.04 and a beta of 0.56.

Shell Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, November 15th will be issued a $0.688 dividend. This represents a $2.75 annualized dividend and a yield of 4.01%. The ex-dividend date is Friday, November 15th. Shell’s dividend payout ratio is currently 56.58%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on SHEL. Citigroup upgraded shares of Shell to a “hold” rating in a research note on Wednesday, October 2nd. Scotiabank cut their target price 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. Barclays upgraded shares of Shell to a “strong-buy” rating in a research note on Wednesday, October 2nd. Berenberg Bank upgraded shares of Shell to a “strong-buy” rating in a research note on Monday, August 5th. Finally, Wolfe Research assumed coverage on shares of Shell in a research note on Thursday, July 18th. They set a “peer perform” rating for the company. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price 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.