Bank of New York Mellon Corp Has $37.01 Million Stock Holdings in Shell plc (NYSE:SHEL)

Bank of New York Mellon Corp lifted its position in Shell plc (NYSE:SHEL) by 13.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 590,728 shares of the energy company’s stock after acquiring an additional 68,120 shares during the period. Bank of New York Mellon Corp’s holdings in Shell were worth $37,009,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of SHEL. Valley National Advisers Inc. grew its stake in shares of Shell by 930.2% during the 4th quarter. Valley National Advisers Inc. now owns 443 shares of the energy company’s stock worth $27,000 after acquiring an additional 400 shares in the last quarter. Human Investing LLC bought a new position in shares of Shell during the 4th quarter worth approximately $31,000. Valley Wealth Managers Inc. bought a new position in shares of Shell during the 3rd quarter worth approximately $33,000. Brooklyn Investment Group bought a new position in shares of Shell during the 3rd quarter worth approximately $35,000. Finally, Sierra Ocean LLC bought a new position in shares of Shell during the 4th quarter worth approximately $39,000. 28.60% of the stock is currently owned by institutional investors and hedge funds.

Shell Stock Performance

NYSE:SHEL opened at $66.80 on Friday. The company has a market capitalization of $203.16 billion, a PE ratio of 13.31, a P/E/G ratio of 0.98 and a beta of 0.47. The company has a 50 day simple moving average of $65.98 and a two-hundred day simple moving average of $66.45. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.10 and a current ratio of 1.35. Shell plc has a fifty-two week low of $60.15 and a fifty-two week high of $74.61.

Shell (NYSE:SHEL) last announced its quarterly earnings data on Thursday, January 30th. The energy company reported $1.20 EPS for the quarter, missing the consensus estimate of $1.74 by ($0.54). Shell had a return on equity of 12.75% and a net margin of 5.57%. Research analysts anticipate that Shell plc will post 7.67 earnings per share for the current year.

Shell Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Friday, February 14th will be paid a dividend of $0.716 per share. The ex-dividend date is Friday, February 14th. This is a boost from Shell’s previous quarterly dividend of $0.69. This represents a $2.86 annualized dividend and a yield of 4.29%. Shell’s dividend payout ratio (DPR) is 56.97%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Morgan Stanley raised shares of Shell from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $66.50 to $79.80 in a research note on Tuesday, January 7th. UBS Group raised shares of Shell from a “neutral” rating to a “buy” rating in a research report on Wednesday, January 8th. Piper Sandler reduced their price objective on shares of Shell from $82.00 to $72.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Wells Fargo & Company dropped their target price on Shell from $86.00 to $82.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Finally, Wolfe Research raised Shell from a “peer perform” rating to an “outperform” rating and set a $80.00 target price for the company in a report on Friday, January 3rd. One research analyst has rated the stock with a hold rating, eight have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, Shell currently has a consensus rating of “Buy” and a consensus target price of $79.11.

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.