Shell PLC Unsponsored ADR (NYSE:SHEL) Shares Sold by Cary Street Partners Financial LLC

Key Points

• Cary Street Partners Financial LLC reduced its stake in Shell PLC by 5.7%, selling 4,625 shares and lowering their holdings to 75,930 shares valued at approximately $5.56 million.
• Shell's stock currently has an average rating of "Moderate Buy" with a price target of $78.64, while the stock price opened at $72.39.
• The company recently announced a quarterly dividend of $0.716 per share, yielding 4.0%, alongside a stock repurchase program allowing for the buyback of up to $3.50 billion in shares.

Cary Street Partners Financial LLC lessened its stake in Shell PLC Unsponsored ADR (NYSE:SHEL - Free Report) by 5.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 75,930 shares of the energy company's stock after selling 4,625 shares during the quarter. Cary Street Partners Financial LLC's holdings in Shell were worth $5,564,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in SHEL. Brighton Jones LLC grew its stake in Shell by 51.7% during the fourth quarter. Brighton Jones LLC now owns 7,463 shares of the energy company's stock worth $468,000 after buying an additional 2,545 shares during the period. Barclays PLC increased its holdings in Shell by 136.2% in the 4th quarter. Barclays PLC now owns 7,824 shares of the energy company's stock valued at $490,000 after purchasing an additional 4,512 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Shell by 4.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 19,323 shares of the energy company's stock worth $1,401,000 after purchasing an additional 815 shares in the last quarter. Merit Financial Group LLC grew its stake in shares of Shell by 100.9% in the first quarter. Merit Financial Group LLC now owns 11,534 shares of the energy company's stock valued at $845,000 after buying an additional 5,794 shares in the last quarter. Finally, Kingsview Wealth Management LLC lifted its position in Shell by 30.6% during the 1st quarter. Kingsview Wealth Management LLC now owns 21,327 shares of the energy company's stock worth $1,563,000 after acquiring an additional 5,002 shares in the last quarter. 28.60% of the stock is owned by hedge funds and other institutional investors.

Shell Stock Performance

Shares of Shell stock traded down $0.15 on Wednesday, reaching $72.25. 4,584,312 shares of the company were exchanged, compared to its average volume of 4,185,663. The firm has a market cap of $213.57 billion, a price-to-earnings ratio of 16.27, a P/E/G ratio of 1.93 and a beta of 0.44. The company's 50-day moving average is $70.80 and its two-hundred day moving average is $68.09. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.07 and a current ratio of 1.32. Shell PLC Unsponsored ADR has a 1-year low of $58.54 and a 1-year high of $74.18.

Shell (NYSE:SHEL - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The energy company reported $1.42 EPS for the quarter, topping the consensus estimate of $1.13 by $0.29. The business had revenue of $66.44 billion during the quarter, compared to analyst estimates of $69.31 billion. Shell had a net margin of 4.93% and a return on equity of 10.67%. As a group, research analysts expect that Shell PLC Unsponsored ADR will post 7.67 earnings per share for the current fiscal year.

Shell Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 22nd. Shareholders of record on Friday, August 15th will be paid a dividend of $0.716 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $2.86 annualized dividend and a yield of 4.0%. Shell's dividend payout ratio (DPR) is presently 64.41%.

Shell announced that its Board of Directors has authorized a share repurchase program on Friday, May 2nd that authorizes the company to repurchase $3.50 billion in shares. This repurchase authorization authorizes the energy company to repurchase up to 1.8% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on SHEL. Sanford C. Bernstein downgraded shares of Shell from an "outperform" rating to a "market perform" rating in a research note on Monday, June 16th. Santander lowered Shell to a "neutral" rating in a research report on Friday, July 11th. HSBC restated a "hold" rating and set a $78.30 price objective (down from $78.90) on shares of Shell in a report on Monday. Piper Sandler upped their price target on shares of Shell from $83.00 to $84.00 and gave the company an "overweight" rating in a report on Tuesday, July 15th. Finally, Hsbc Global Res cut shares of Shell from a "strong-buy" rating to a "hold" rating in a research report on Monday. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $78.64.

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.