Fulton Bank N.A. Sells 1,295 Shares of Shell plc (NYSE:SHEL)

Fulton Bank N.A. reduced its holdings in shares of Shell plc (NYSE:SHEL) by 21.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,665 shares of the energy company’s stock after selling 1,295 shares during the period. Fulton Bank N.A.’s holdings in Shell were worth $292,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Fortitude Family Office LLC bought a new position in Shell during the third quarter valued at approximately $30,000. Fairscale Capital LLC purchased a new stake in shares of Shell during the second quarter valued at approximately $33,000. Valley Wealth Managers Inc. purchased a new stake in shares of Shell during the third quarter valued at approximately $33,000. Brooklyn Investment Group purchased a new stake in shares of Shell during the third quarter valued at approximately $35,000. Finally, GHP Investment Advisors Inc. boosted its stake in shares of Shell by 40.8% during the third quarter. GHP Investment Advisors Inc. now owns 563 shares of the energy company’s stock valued at $37,000 after purchasing an additional 163 shares during the period. 28.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

SHEL has been the subject of a number of analyst reports. Wells Fargo & Company dropped their price objective on Shell from $87.00 to $86.00 and set an “overweight” rating for the company in a research note on Friday. Wolfe Research raised Shell from a “peer perform” rating to an “outperform” rating and set a $80.00 price target for the company in a research note on Friday, January 3rd. Morgan Stanley raised Shell from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $66.50 to $79.80 in a research note on Tuesday. Barclays raised Shell to a “strong-buy” rating in a research note on Wednesday, October 2nd. Finally, Citigroup raised Shell to a “hold” rating in a research note on Wednesday, October 2nd. One investment 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. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $79.69.

Shell Price Performance

Shares of NYSE:SHEL opened at $65.02 on Friday. 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. The business has a fifty day moving average price of $64.43 and a 200-day moving average price of $68.10. The company has a market capitalization of $200.08 billion, a PE ratio of 13.38, a PEG ratio of 4.84 and a beta of 0.55.

Shell Announces Dividend

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