Bank of Montreal Can Purchases 452,061 Shares of Shell plc (NYSE:SHEL)

Bank of Montreal Can increased its holdings in Shell plc (NYSE:SHEL) by 53.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,295,389 shares of the energy company’s stock after acquiring an additional 452,061 shares during the quarter. Bank of Montreal Can’s holdings in Shell were worth $93,540,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Aveo Capital Partners LLC lifted its stake in shares of Shell by 20.0% during the 4th quarter. Aveo Capital Partners LLC now owns 5,376 shares of the energy company’s stock worth $354,000 after purchasing an additional 896 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Shell by 37.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 98,706 shares of the energy company’s stock worth $6,495,000 after buying an additional 26,729 shares during the last quarter. Congress Wealth Management LLC DE purchased a new stake in Shell during the fourth quarter valued at approximately $358,000. Hilltop Holdings Inc. grew its holdings in Shell by 2.3% in the fourth quarter. Hilltop Holdings Inc. now owns 16,621 shares of the energy company’s stock worth $1,094,000 after purchasing an additional 379 shares during the last quarter. Finally, IPG Investment Advisors LLC purchased a new stake in shares of Shell during the 4th quarter valued at $245,000. Hedge funds and other institutional investors own 28.60% of the company’s stock.

Shell Price Performance

NYSE:SHEL opened at $69.41 on Wednesday. The firm’s fifty day moving average is $70.74 and its two-hundred day moving average is $70.78. The firm has a market cap of $217.31 billion, a price-to-earnings ratio of 12.81, a PEG ratio of 1.59 and a beta of 0.57. Shell plc has a one year low of $60.34 and a one year high of $74.61. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.12 and a current ratio of 1.41.

Shell (NYSE:SHEL) last announced its quarterly earnings results on Thursday, August 1st. The energy company reported $1.97 earnings per share for the quarter, beating the consensus estimate of $1.82 by $0.15. The company had revenue of $75.06 billion during the quarter, compared to analysts’ expectations of $88.62 billion. Shell had a return on equity of 14.56% and a net margin of 5.97%. During the same period last year, the business earned $1.50 earnings per share. Research analysts expect that Shell plc will post 8.47 EPS for the current year.

Shell Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Friday, August 16th were issued a $0.688 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $2.75 dividend on an annualized basis and a yield of 3.96%. Shell’s payout ratio is 50.74%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SHEL. Royal Bank of Canada raised Shell to a “moderate buy” rating in a research report on Tuesday, July 30th. Wells Fargo & Company lowered their target price on shares of Shell from $91.00 to $90.00 and set an “overweight” rating for the company in a research note on Friday, June 21st. Berenberg Bank raised shares of Shell to a “strong-buy” rating in a report on Monday, August 5th. Wolfe Research began coverage on shares of Shell in a report on Thursday, July 18th. They set a “peer perform” rating on the stock. Finally, Argus lifted their price target on Shell from $77.00 to $79.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Shell has an average rating of “Moderate Buy” and an average target price of $85.00.

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.