Eastern Bank Sells 665 Shares of Shell plc (NYSE:SHEL)

Eastern Bank decreased its stake in Shell plc (NYSE:SHEL) by 7.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,886 shares of the energy company’s stock after selling 665 shares during the period. Eastern Bank’s holdings in Shell were worth $557,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. JCIC Asset Management Inc. raised its position in shares of Shell by 1.2% in the fourth quarter. JCIC Asset Management Inc. now owns 46,082 shares of the energy company’s stock valued at $2,887,000 after purchasing an additional 560 shares during the period. Bridge Creek Capital Management LLC raised its position in shares of Shell by 0.4% in the fourth quarter. Bridge Creek Capital Management LLC now owns 53,514 shares of the energy company’s stock valued at $3,353,000 after purchasing an additional 196 shares during the period. Moody National Bank Trust Division raised its position in shares of Shell by 157.4% in the fourth quarter. Moody National Bank Trust Division now owns 9,770 shares of the energy company’s stock valued at $612,000 after purchasing an additional 5,974 shares during the period. Thomasville National Bank raised its position in shares of Shell by 4.8% in the fourth quarter. Thomasville National Bank now owns 349,953 shares of the energy company’s stock valued at $21,925,000 after purchasing an additional 16,119 shares during the period. Finally, Kieckhefer Group LLC bought a new stake in shares of Shell in the fourth quarter valued at approximately $40,000. Institutional investors own 28.60% of the company’s stock.

Analyst Ratings Changes

SHEL has been the topic of several research reports. Wolfe Research raised shares of Shell from a “peer perform” rating to an “outperform” rating and set a $80.00 price target on the stock in a research report on Friday, January 3rd. Sanford C. Bernstein raised shares of Shell to a “strong-buy” rating in a report on Friday, October 11th. Citigroup raised shares of Shell to a “hold” rating in a report on Wednesday, October 2nd. Morgan Stanley upgraded shares of Shell from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $66.50 to $79.80 in a research report on Tuesday, January 7th. Finally, Piper Sandler reduced their target price on Shell from $82.00 to $72.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. One research analyst has rated the stock with a hold rating, eight have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, Shell has a consensus rating of “Buy” and a consensus target price of $79.69.

Shell Trading Up 0.1 %

NYSE:SHEL opened at $64.99 on Tuesday. The company has a fifty day moving average of $64.32 and a 200 day moving average of $67.96. Shell plc has a 52 week low of $60.15 and a 52 week 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 firm has a market capitalization of $199.99 billion, a P/E ratio of 13.37, a P/E/G ratio of 4.84 and a beta of 0.55.

Shell Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Friday, November 15th were issued a $0.688 dividend. The ex-dividend date was Friday, November 15th. This represents a $2.75 annualized dividend and a yield of 4.23%. Shell’s dividend payout ratio (DPR) is presently 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.