Bank of New York Mellon Corp Has $38.58 Million Stock Position in Shell PLC Unsponsored ADR (NYSE:SHEL)

Bank of New York Mellon Corp cut its position in shares of Shell PLC Unsponsored ADR (NYSE:SHEL - Free Report) by 10.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 526,440 shares of the energy company's stock after selling 64,288 shares during the period. Bank of New York Mellon Corp's holdings in Shell were worth $38,578,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Brighton Jones LLC grew its stake in Shell by 51.7% in the 4th quarter. Brighton Jones LLC now owns 7,463 shares of the energy company's stock valued at $468,000 after buying an additional 2,545 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Shell by 8.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 199,856 shares of the energy company's stock valued at $12,521,000 after buying an additional 14,937 shares during the last quarter. Madison Investment Advisors LLC acquired a new position in Shell in the 4th quarter valued at about $1,648,000. Choate Investment Advisors grew its stake in Shell by 119.0% in the 4th quarter. Choate Investment Advisors now owns 7,500 shares of the energy company's stock valued at $470,000 after buying an additional 4,076 shares during the last quarter. Finally, one8zero8 LLC bought a new stake in Shell in the 4th quarter valued at about $207,000. 28.60% of the stock is currently owned by institutional investors and hedge funds.

Shell Price Performance

NYSE:SHEL traded down $0.01 on Friday, hitting $70.33. The company had a trading volume of 2,880,562 shares, compared to its average volume of 4,504,391. The stock has a market capitalization of $209.10 billion, a price-to-earnings ratio of 16.20, a PEG ratio of 1.99 and a beta of 0.40. The company has a current ratio of 1.32, a quick ratio of 1.08 and a debt-to-equity ratio of 0.36. The firm has a 50 day moving average of $69.30 and a two-hundred day moving average of $67.41. Shell PLC Unsponsored ADR has a 52 week low of $58.55 and a 52 week high of $74.46.

Shell (NYSE:SHEL - Get Free Report) last issued its quarterly earnings data on Friday, May 2nd. The energy company reported $1.84 EPS for the quarter, beating the consensus estimate of $1.54 by $0.30. The business had revenue of $69.23 billion during the quarter, compared to the consensus estimate of $79.18 billion. Shell had a net margin of 4.75% and a return on equity of 11.71%. During the same quarter in the prior year, the firm earned $2.40 EPS. On average, research analysts anticipate that Shell PLC Unsponsored ADR will post 7.67 earnings per share for the current year.

Shell declared that its Board of Directors has initiated a stock buyback plan on Friday, May 2nd that allows the company to repurchase $3.50 billion in shares. This repurchase authorization allows the energy company to purchase up to 1.8% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's board believes its stock is undervalued.

Shell Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 23rd. Investors of record on Friday, May 16th were paid a $0.716 dividend. This represents a $2.86 annualized dividend and a yield of 4.07%. The ex-dividend date was Friday, May 16th. Shell's payout ratio is 65.90%.

Analysts Set New Price Targets

A number of analysts have issued reports on SHEL shares. Santander downgraded shares of Shell to a "neutral" rating in a report on Friday, July 11th. Piper Sandler boosted their price objective on shares of Shell from $83.00 to $84.00 and gave the company an "overweight" rating in a report on Tuesday. Royal Bank Of Canada reissued an "outperform" rating on shares of Shell in a report on Wednesday, March 26th. Hsbc Global Res raised shares of Shell to a "strong-buy" rating in a report on Tuesday, May 13th. Finally, Scotiabank reissued an "outperform" rating on shares of Shell in a report on Friday, July 11th. Three equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, Shell has an average rating of "Moderate Buy" and an average price target of $78.69.

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.