Cary Street Partners Financial LLC Cuts Stock Holdings in Shell PLC Unsponsored ADR (NYSE:SHEL)

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 shares of Shell PLC Unsponsored ADR (NYSE:SHEL - Free Report) by 5.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor 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 reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Kennebec Savings Bank purchased a new stake in shares of Shell during the 1st quarter valued at $25,000. Avalon Trust Co purchased a new stake in shares of Shell during the 1st quarter valued at $25,000. Brown Lisle Cummings Inc. lifted its holdings in shares of Shell by 103.4% during the 1st quarter. Brown Lisle Cummings Inc. now owns 356 shares of the energy company's stock valued at $26,000 after purchasing an additional 181 shares during the last quarter. Transce3nd LLC purchased a new stake in shares of Shell during the 4th quarter valued at $34,000. Finally, Cheviot Value Management LLC purchased a new position in Shell in the 1st quarter worth $37,000. Institutional investors own 28.60% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SHEL. Sanford C. Bernstein lowered 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 note on Friday, July 11th. HSBC restated a "hold" rating and issued a $78.30 target price (down previously from $78.90) on shares of Shell in a research note on Monday, August 4th. Scotiabank reaffirmed an "outperform" rating on shares of Shell in a research report on Friday, July 11th. Finally, Hsbc Global Res downgraded Shell from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 4th. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $78.64.

Shell Price Performance

Shares of NYSE:SHEL traded up $0.27 during trading on Friday, reaching $71.64. 3,839,707 shares of the company's stock traded hands, compared to its average volume of 4,254,761. Shell PLC Unsponsored ADR has a fifty-two week low of $58.54 and a fifty-two week high of $74.18. The company has a quick ratio of 1.07, a current ratio of 1.32 and a debt-to-equity ratio of 0.36. The firm has a market cap of $211.78 billion, a PE ratio of 16.14, a P/E/G ratio of 1.90 and a beta of 0.44. The company has a 50-day simple moving average of $71.01 and a 200-day simple moving average of $68.15.

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

Shell Dividend Announcement

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

Shell announced that its Board of Directors has initiated a share repurchase plan on Friday, May 2nd that permits the company to repurchase $3.50 billion in outstanding shares. This repurchase authorization permits the energy company to buy up to 1.8% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

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.