Shell PLC Unsponsored ADR $SHEL Shares Sold by Causeway Capital Management LLC

Key Points

• Causeway Capital Management LLC has reduced its stake in Shell PLC by 70.9% in the first quarter, leaving it with 2,944 shares worth approximately $216,000.
• Analysts have mixed opinions on Shell, with ratings ranging from "hold" to "outperform," resulting in a consensus rating of "Moderate Buy" and an average price target of $76.71.
• Shell recently declared a quarterly dividend of $0.716 per share, with a yield of 3.9%, and has authorized a stock buyback plan of $3.50 billion.

Causeway Capital Management LLC cut its stake in shares of Shell PLC Unsponsored ADR (NYSE:SHEL - Free Report) by 70.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,944 shares of the energy company's stock after selling 7,188 shares during the period. Causeway Capital Management LLC's holdings in Shell were worth $216,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Brighton Jones LLC lifted 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 purchasing an additional 2,545 shares in the last quarter. Barclays PLC lifted its stake in Shell by 136.2% during the 4th quarter. Barclays PLC now owns 7,824 shares of the energy company's stock worth $490,000 after acquiring an additional 4,512 shares in the last quarter. First Trust Advisors LP boosted its holdings in Shell by 105.6% during the 4th quarter. First Trust Advisors LP now owns 136,134 shares of the energy company's stock valued at $8,529,000 after acquiring an additional 69,929 shares during the period. MGO One Seven LLC grew its position in Shell by 5.7% in the 4th quarter. MGO One Seven LLC now owns 3,468 shares of the energy company's stock valued at $217,000 after acquiring an additional 187 shares in the last quarter. Finally, Banco Bilbao Vizcaya Argentaria S.A. lifted its position in shares of Shell by 118.6% during the fourth quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 15,489 shares of the energy company's stock worth $965,000 after purchasing an additional 8,405 shares in the last quarter. Hedge funds and other institutional investors own 28.60% of the company's stock.

Shell Stock Performance

Shares of SHEL traded up $0.28 during mid-day trading on Thursday, hitting $73.99. 1,964,367 shares of the company's stock were exchanged, compared to its average volume of 3,448,972. The firm has a market capitalization of $217.40 billion, a P/E ratio of 16.66, a P/E/G ratio of 1.95 and a beta of 0.44. The business's 50 day moving average is $71.77 and its two-hundred day moving average is $68.81. 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 current ratio of 1.32, a quick ratio of 1.07 and a debt-to-equity ratio of 0.36.

Shell (NYSE:SHEL - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The energy company reported $1.42 earnings per share for the quarter, beating analysts' consensus estimates of $1.13 by $0.29. The firm had revenue of $66.44 billion for the quarter, compared to the consensus estimate of $69.31 billion. Shell had a return on equity of 10.67% and a net margin of 4.93%. On average, equities analysts expect 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 share buyback plan 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 plans are typically an indication that the company's management believes its stock is undervalued.

Shell Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 22nd. Investors of record on Friday, August 15th will be paid a $0.716 dividend. The ex-dividend date is Friday, August 15th. This represents a $2.86 annualized dividend and a dividend yield of 3.9%. Shell's dividend payout ratio (DPR) is 64.41%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on SHEL shares. Sanford C. Bernstein lowered shares of Shell from an "outperform" rating to a "market perform" rating in a research note on Monday, June 16th. Melius initiated coverage on Shell in a research report on Wednesday, August 20th. They set a "hold" rating and a $70.00 price objective on the stock. Wells Fargo & Company cut their price objective on Shell from $80.00 to $79.00 and set an "overweight" rating on the stock in a research report on Thursday, June 26th. Hsbc Global Res cut Shell from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 4th. Finally, Piper Sandler dropped their target price on Shell from $84.00 to $82.00 and set an "overweight" rating on the stock in a report on Monday, August 18th. Ten equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat, Shell presently has an average rating of "Moderate Buy" and a consensus target price of $76.71.

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.