Montecito Bank & Trust Has $250,000 Stock Holdings in Shell plc (NYSE:SHEL)

Montecito Bank & Trust increased its stake in shares of Shell plc (NYSE:SHEL) by 29.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 3,995 shares of the energy company’s stock after acquiring an additional 900 shares during the period. Montecito Bank & Trust’s holdings in Shell were worth $250,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Fortitude Family Office LLC acquired a new stake in shares of Shell in the 3rd quarter valued at approximately $30,000. Valley Wealth Managers Inc. bought a new position in shares of Shell in the 3rd quarter valued at about $33,000. Brooklyn Investment Group bought a new stake in shares of Shell in the 3rd quarter valued at about $35,000. GHP Investment Advisors Inc. lifted its stake in Shell by 40.8% in the 3rd 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 last quarter. Finally, Rakuten Securities Inc. increased its position in Shell by 567.0% during the third quarter. Rakuten Securities Inc. now owns 627 shares of the energy company’s stock worth $41,000 after buying an additional 533 shares during the last quarter. 28.60% of the stock is currently owned by institutional investors.

Shell Price Performance

Shell stock opened at $65.39 on Friday. The stock’s fifty day moving average price is $64.23 and its two-hundred day moving average price is $67.62. The firm has a market cap of $199.92 billion, a PE ratio of 13.45, a price-to-earnings-growth ratio of 5.89 and a beta of 0.55. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.40 and a quick ratio of 1.13. Shell plc has a one year low of $60.15 and a one year high of $74.61.

Shell (NYSE:SHEL) last posted its quarterly earnings data on Thursday, October 31st. The energy company reported $1.92 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.20. Shell had a net margin of 5.17% and a return on equity of 14.54%. The business had revenue of $72.46 billion during the quarter, compared to analysts’ expectations of $84.58 billion. During the same quarter in the prior year, the business posted $1.86 earnings per share. As a group, research analysts expect that Shell plc will post 8.16 EPS for the current fiscal year.

Shell Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Friday, November 15th were given 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 yield of 4.21%. Shell’s dividend payout ratio is currently 56.58%.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Citigroup upgraded Shell to a “hold” rating in a research note on Wednesday, October 2nd. Wells Fargo & Company dropped their price objective on shares of Shell from $87.00 to $86.00 and set an “overweight” rating on the stock in a research report on Friday, January 10th. Wolfe Research raised shares of 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. Barclays upgraded shares of Shell to a “strong-buy” rating in a research report on Wednesday, October 2nd. Finally, UBS Group raised Shell from a “neutral” rating to a “buy” rating in a research report on Wednesday, January 8th. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $79.69.

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.