Private Trust Co. NA Sells 327 Shares of Shell plc (NYSE:SHEL)

Private Trust Co. NA decreased its position in shares of Shell plc (NYSE:SHEL) by 3.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,484 shares of the energy company’s stock after selling 327 shares during the period. Private Trust Co. NA’s holdings in Shell were worth $691,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

A number of brokerages have recently commented on SHEL. Citigroup upgraded Shell to a “hold” rating in a report on Wednesday, October 2nd. Barclays raised shares of Shell to a “strong-buy” rating in a research note on Wednesday, October 2nd. Royal Bank of Canada raised shares of Shell to a “moderate buy” rating in a research note on Tuesday, July 30th. Scotiabank decreased their price objective 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. Finally, Sanford C. Bernstein upgraded Shell to a “strong-buy” rating in a report on Friday, October 11th. Three research analysts have rated the stock with a hold rating, four have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $82.00.

Shell Stock Down 0.4 %

Shares of NYSE SHEL opened at $64.79 on Wednesday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.13 and a current ratio of 1.40. The stock has a 50 day moving average price of $67.19 and a 200 day moving average price of $69.84. The firm has a market capitalization of $200.54 billion, a price-to-earnings ratio of 13.33, a PEG 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.

Shell Announces Dividend

The firm 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 dividend of $0.688 per share. This represents a $2.75 annualized dividend and a yield of 4.25%. The ex-dividend date is Friday, November 15th. Shell’s payout ratio is 56.58%.

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.