Peapack Gladstone Financial Corp Has $4.46 Million Position in Shell plc (NYSE:SHEL)

Peapack Gladstone Financial Corp boosted its holdings in shares of Shell plc (NYSE:SHEL) by 1.7% during the third quarter, HoldingsChannel reports. The fund owned 67,647 shares of the energy company’s stock after purchasing an additional 1,152 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in Shell were worth $4,460,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Hobbs Group Advisors LLC acquired a new position in shares of Shell in the second quarter worth approximately $26,000. Fortitude Family Office LLC acquired a new position in shares of Shell in the 3rd quarter worth approximately $30,000. Fairscale Capital LLC bought a new stake in shares of Shell in the 2nd quarter valued at $33,000. Valley Wealth Managers Inc. bought a new position in Shell during the third quarter worth $33,000. Finally, Brooklyn Investment Group acquired a new position in Shell in the third quarter valued at $35,000. Institutional investors own 28.60% of the company’s stock.

Shell Trading Down 0.7 %

NYSE:SHEL opened at $63.54 on Friday. Shell plc has a one year low of $60.34 and a one year high of $74.61. The company has a market cap of $196.68 billion, a PE ratio of 13.07, a PEG ratio of 4.92 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. The firm has a 50-day moving average of $66.23 and a 200-day moving average of $69.11.

Shell Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, November 15th will be issued a $0.688 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.75 dividend on an annualized basis and a dividend yield of 4.33%. Shell’s dividend payout ratio is presently 56.58%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on SHEL shares. Wells Fargo & Company dropped their price objective on Shell from $88.00 to $87.00 and set an “overweight” rating on the stock in a research note on Monday, December 9th. Sanford C. Bernstein upgraded Shell to a “strong-buy” rating in a report on Friday, October 11th. Scotiabank lowered their price objective on shares of Shell from $90.00 to $80.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Barclays upgraded shares of Shell to a “strong-buy” rating in a report on Wednesday, October 2nd. Finally, Citigroup raised shares of Shell to a “hold” rating in a research report on Wednesday, October 2nd. Two research analysts have rated the stock with a hold rating, four have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $81.75.

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.