Bank of Montreal Can Sells 613,244 Shares of Shell plc (NYSE:SHEL)

Bank of Montreal Can lessened its stake in Shell plc (NYSE:SHEL) by 47.3% in the third quarter, HoldingsChannel reports. The fund 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.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Fisher Asset Management LLC increased its holdings in Shell by 2.1% during the 3rd quarter. Fisher Asset Management LLC now owns 24,530,647 shares of the energy company’s stock valued at $1,617,796,000 after purchasing an additional 507,311 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Shell by 0.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 22,722,317 shares of the energy company’s stock worth $1,640,082,000 after buying an additional 96,549 shares during the last quarter. Mawer Investment Management Ltd. lifted its position in Shell by 8.7% in the 3rd quarter. Mawer Investment Management Ltd. now owns 5,282,868 shares of the energy company’s stock valued at $348,405,000 after acquiring an additional 422,329 shares in the last quarter. Jennison Associates LLC lifted its position in Shell by 188.0% in the 3rd quarter. Jennison Associates LLC now owns 3,014,199 shares of the energy company’s stock valued at $198,786,000 after acquiring an additional 1,967,672 shares in the last quarter. Finally, Westwood Global Investments LLC lifted its position in Shell by 4.1% in the 2nd quarter. Westwood Global Investments LLC now owns 2,546,523 shares of the energy company’s stock valued at $183,808,000 after acquiring an additional 100,379 shares in the last quarter. Institutional investors own 28.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Sanford C. Bernstein raised Shell to a “strong-buy” rating in a report on Friday, October 11th. Scotiabank reduced their price objective on 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 Shell to a “strong-buy” rating in a research note on Wednesday, October 2nd. Berenberg Bank upgraded Shell to a “strong-buy” rating in a research note on Monday, August 5th. Finally, Citigroup upgraded Shell to a “hold” rating in a research note on Wednesday, October 2nd. Three analysts have rated the stock with a hold rating, four have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $82.00.

Shell Trading Up 0.2 %

Shares of Shell stock opened at $64.90 on Thursday. The firm has a market cap of $200.89 billion, a price-to-earnings ratio of 13.35, a PEG ratio of 1.95 and a beta of 0.56. The business has a 50-day moving average price of $67.12 and a 200-day moving average price of $69.77. The company has a quick ratio of 1.13, a current ratio of 1.40 and a debt-to-equity ratio of 0.34. Shell plc has a twelve month low of $60.34 and a twelve month high of $74.61.

Shell Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, November 15th will be given a dividend of $0.688 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.75 dividend on an annualized basis and a dividend yield of 4.24%. Shell’s payout ratio is 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.