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

Eastern Bank trimmed its position in Shell plc (NYSE:SHEL) by 7.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 8,886 shares of the energy company’s stock after selling 665 shares during the quarter. Eastern Bank’s holdings in Shell were worth $557,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of SHEL. Procyon Advisors LLC boosted its position in shares of Shell by 3.2% during the 3rd quarter. Procyon Advisors LLC now owns 5,074 shares of the energy company’s stock worth $335,000 after acquiring an additional 159 shares in the last quarter. GHP Investment Advisors Inc. boosted its position in Shell by 40.8% in the third quarter. GHP Investment Advisors Inc. now owns 563 shares of the energy company’s stock valued at $37,000 after buying an additional 163 shares in the last quarter. Beddow Capital Management Inc. boosted its position in Shell by 0.3% in the second quarter. Beddow Capital Management Inc. now owns 61,061 shares of the energy company’s stock valued at $4,407,000 after buying an additional 165 shares in the last quarter. Doliver Advisors LP boosted its position in Shell by 5.2% in the fourth quarter. Doliver Advisors LP now owns 3,632 shares of the energy company’s stock valued at $228,000 after buying an additional 180 shares in the last quarter. Finally, OneDigital Investment Advisors LLC boosted its position in Shell by 2.5% in the third quarter. OneDigital Investment Advisors LLC now owns 7,889 shares of the energy company’s stock valued at $520,000 after buying an additional 196 shares in the last quarter. 28.60% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Sanford C. Bernstein upgraded shares of Shell to a “strong-buy” rating in a research report on Friday, October 11th. Wells Fargo & Company dropped their price target on shares of Shell from $87.00 to $86.00 and set an “overweight” rating for the company in a research note on Friday. Piper Sandler dropped their price target on shares of Shell from $82.00 to $72.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Citigroup raised shares of Shell to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Scotiabank dropped their price target 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. 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’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $79.69.

Shell Stock Up 0.1 %

Shares of NYSE SHEL opened at $64.99 on Tuesday. The stock 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. The company has a 50-day moving average price of $64.32 and a 200-day moving average price of $67.96. Shell plc has a 1 year low of $60.15 and a 1 year high of $74.61. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.40 and a quick ratio of 1.13.

Shell Dividend Announcement

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