Ledyard National Bank Acquires 686 Shares of Shell plc (NYSE:SHEL)

Ledyard National Bank grew its holdings in shares of Shell plc (NYSE:SHEL) by 12.6% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,138 shares of the energy company’s stock after purchasing an additional 686 shares during the quarter. Ledyard National Bank’s holdings in Shell were worth $405,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Whittier Trust Co. of Nevada Inc. boosted its position in shares of Shell by 1.9% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 22,468 shares of the energy company’s stock valued at $1,482,000 after acquiring an additional 416 shares during the last quarter. Whittier Trust Co. increased its stake in Shell by 3.8% in the third quarter. Whittier Trust Co. now owns 21,851 shares of the energy company’s stock worth $1,441,000 after purchasing an additional 791 shares during the period. Allspring Global Investments Holdings LLC increased its stake in Shell by 45.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 16,181 shares of the energy company’s stock worth $1,067,000 after purchasing an additional 5,050 shares during the period. Everett Harris & Co. CA increased its stake in shares of Shell by 14.8% during the third quarter. Everett Harris & Co. CA now owns 228,244 shares of the energy company’s stock valued at $15,053,000 after buying an additional 29,448 shares during the period. Finally, First Citizens Bank & Trust Co. purchased a new position in shares of Shell during the third quarter valued at $207,000. Hedge funds and other institutional investors own 28.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on SHEL. Barclays raised Shell to a “strong-buy” rating in a report on Wednesday, October 2nd. Sanford C. Bernstein raised Shell to a “strong-buy” rating in a report on Friday, October 11th. Citigroup upgraded Shell to a “hold” rating in a research report on Wednesday, October 2nd. Wells Fargo & Company boosted their price target on shares of Shell from $84.00 to $88.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Finally, Royal Bank of Canada raised shares of Shell to a “moderate buy” rating in a research report on Tuesday, July 30th. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $82.00.

Shell Price Performance

Shares of SHEL opened at $67.01 on Wednesday. Shell plc has a 1-year low of $60.34 and a 1-year high of $74.61. The stock has a market cap of $208.54 billion, a PE ratio of 11.97, a price-to-earnings-growth ratio of 1.55 and a beta of 0.56. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.41 and a quick ratio of 1.12. The firm has a fifty day moving average price of $69.00 and a 200 day moving average price of $70.82.

Shell (NYSE:SHEL) last announced its earnings results on Thursday, August 1st. The energy company reported $1.97 EPS for the quarter, beating analysts’ consensus estimates of $1.82 by $0.15. Shell had a net margin of 5.97% and a return on equity of 14.56%. The business had revenue of $75.06 billion during the quarter, compared to analysts’ expectations of $88.62 billion. During the same period in the prior year, the company earned $1.50 earnings per share. As a group, sell-side analysts anticipate that Shell plc will post 8.45 EPS for the current year.

Shell Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Friday, August 16th were given a dividend of $0.688 per share. The ex-dividend date was Friday, August 16th. This represents a $2.75 annualized dividend and a yield of 4.11%. Shell’s payout ratio is currently 49.11%.

Shell 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.