Bank of New York Mellon Corp Sells 17,423 Shares of Shell plc (NYSE:SHEL)

Bank of New York Mellon Corp cut its holdings in Shell plc (NYSE:SHEL – Get Rating) by 2.1% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 828,221 shares of the energy company’s stock after selling 17,423 shares during the period. Bank of New York Mellon Corp’s holdings in Shell were worth $41,211,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. Acadian Asset Management LLC bought a new position in shares of Shell during the 1st quarter worth approximately $443,000. Yousif Capital Management LLC acquired a new position in Shell in the 1st quarter valued at $3,322,000. Synovus Financial Corp bought a new stake in shares of Shell in the first quarter valued at about $1,018,000. Vontobel Holding Ltd. acquired a new stake in Shell in the 1st quarter worth about $791,000. Finally, Blair William & Co. IL acquired a new stake in shares of Shell in the first quarter valued at approximately $2,090,000. 7.74% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Morgan Stanley downgraded Shell from an “equal weight” rating to an “underweight” rating in a research note on Thursday, February 9th. AlphaValue raised Shell to a “reduce” rating in a research note on Tuesday, February 28th. Wolfe Research downgraded shares of Shell from an “outperform” rating to a “peer perform” rating in a research note on Thursday, January 12th. Berenberg Bank raised their target price on shares of Shell from GBX 2,900 ($34.87) to GBX 3,000 ($36.08) in a research report on Friday, February 17th. Finally, JPMorgan Chase & Co. upped their target price on Shell from GBX 2,900 ($34.87) to GBX 2,950 ($35.47) in a report on Friday, December 2nd. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Shell currently has a consensus rating of “Hold” and an average target price of $2,879.86.

Shell Trading Down 0.5 %

NYSE SHEL opened at $60.36 on Monday. The business has a fifty day simple moving average of $59.55 and a 200 day simple moving average of $56.18. The company has a current ratio of 1.37, a quick ratio of 1.10 and a debt-to-equity ratio of 0.39. Shell plc has a 12 month low of $44.90 and a 12 month high of $62.75. The firm has a market capitalization of $217.13 billion, a P/E ratio of 5.29, a PEG ratio of 0.66 and a beta of 0.65.

Shell Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 27th. Stockholders of record on Friday, February 17th will be given a dividend of $0.575 per share. This is a positive change from Shell’s previous quarterly dividend of $0.50. This represents a $2.30 dividend on an annualized basis and a dividend yield of 3.81%. The ex-dividend date is Thursday, February 16th. Shell’s payout ratio is 20.14%.

About Shell

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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 necessary to deliver gas to market.