Peapack Gladstone Financial Corp Sells 858 Shares of Shell plc (NYSE:SHEL)

Peapack Gladstone Financial Corp lowered its holdings in shares of Shell plc (NYSE:SHEL) by 1.3% during the fourth quarter, Holdings Channel reports. The firm owned 66,789 shares of the energy company’s stock after selling 858 shares during the period. Peapack Gladstone Financial Corp’s holdings in Shell were worth $4,185,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of SHEL. Titleist Asset Management LLC raised its stake in shares of Shell by 3.1% in the 4th quarter. Titleist Asset Management LLC now owns 5,526 shares of the energy company’s stock valued at $346,000 after acquiring an additional 164 shares in the last quarter. Rahlfs Capital LLC bought a new stake in shares of Shell during the 4th quarter worth $320,000. Wedbush Securities Inc. raised its holdings in Shell by 12.3% in the 4th quarter. Wedbush Securities Inc. now owns 18,111 shares of the energy company’s stock worth $1,135,000 after acquiring an additional 1,986 shares during the period. Grantham Mayo Van Otterloo & Co. LLC boosted its holdings in Shell by 482.3% during the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 25,102 shares of the energy company’s stock valued at $1,573,000 after acquiring an additional 20,791 shares during the period. Finally, Smith Moore & CO. increased its stake in shares of Shell by 85.0% in the fourth quarter. Smith Moore & CO. now owns 7,840 shares of the energy company’s stock worth $491,000 after purchasing an additional 3,603 shares during the period. 28.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Barclays reaffirmed an “overweight” rating on shares of Shell in a research report on Wednesday, March 26th. Royal Bank of Canada reissued an “outperform” rating on shares of Shell in a report on Wednesday, March 26th. TD Cowen initiated coverage on shares of Shell in a research report on Wednesday, March 19th. They set a “buy” rating and a $81.00 price objective for the company. TD Securities restated a “buy” rating on shares of Shell in a research note on Friday. Finally, Wells Fargo & Company raised their price objective on Shell from $81.00 to $87.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 26th. One equities research analyst has rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $80.10.

Shell Stock Performance

Shell stock opened at $62.31 on Tuesday. Shell plc has a 52-week low of $60.15 and a 52-week high of $74.61. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.35 and a quick ratio of 1.10. The stock has a fifty day moving average price of $68.06 and a two-hundred day moving average price of $66.47. The firm has a market capitalization of $188.40 billion, a P/E ratio of 12.41, a P/E/G ratio of 0.98 and a beta of 0.27.

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

Shell Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Friday, February 14th were paid a $0.716 dividend. The ex-dividend date of this dividend was Friday, February 14th. This is a positive change from Shell’s previous quarterly dividend of $0.69. This represents a $2.86 dividend on an annualized basis and a dividend yield of 4.60%. Shell’s dividend payout ratio (DPR) is 56.97%.

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.