Shell PLC Unsponsored ADR (NYSE:SHEL) Shares Sold by Cetera Investment Advisers

Key Points

• Cetera Investment Advisers reduced its holdings in Shell PLC by 4.3%, selling 8,029 shares and holding 179,160 shares worth approximately $13.1 million.
• Shell's board approved a $3.50 billion stock repurchase plan, indicating that they believe the stock is undervalued, alongside a recent dividend of $0.716 per share with a yield of 3.92%.
• Analysts maintain a moderate buy rating on Shell with an average price target of $78.69, as several firms have weighed in positively on its growth potential despite recent fluctuations.

Cetera Investment Advisers cut its position in Shell PLC Unsponsored ADR (NYSE:SHEL - Free Report) by 4.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 179,160 shares of the energy company's stock after selling 8,029 shares during the quarter. Cetera Investment Advisers' holdings in Shell were worth $13,129,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of SHEL. Kennebec Savings Bank acquired a new position in Shell in the first quarter valued at approximately $25,000. Brown Lisle Cummings Inc. raised its position in Shell by 103.4% in the 1st quarter. Brown Lisle Cummings Inc. now owns 356 shares of the energy company's stock valued at $26,000 after buying an additional 181 shares during the last quarter. Transce3nd LLC bought a new position in Shell during the 4th quarter valued at $34,000. Fourth Dimension Wealth LLC bought a new stake in shares of Shell in the 4th quarter worth $43,000. Finally, Vermillion Wealth Management Inc. bought a new position in shares of Shell during the fourth quarter valued at about $44,000. Institutional investors and hedge funds own 28.60% of the company's stock.

Shell Stock Performance

SHEL traded down $0.22 on Friday, reaching $71.99. 5,433,887 shares of the stock were exchanged, compared to its average volume of 4,796,892. Shell PLC Unsponsored ADR has a fifty-two week low of $58.54 and a fifty-two week high of $74.18. The firm has a market capitalization of $212.81 billion, a PE ratio of 16.59, a PEG ratio of 2.08 and a beta of 0.40. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.32 and a quick ratio of 1.08. The company's 50-day moving average price is $70.21 and its 200 day moving average price is $67.88.

Shell (NYSE:SHEL - Get Free Report) last posted its earnings results on Thursday, August 7th. The energy company reported $1.42 EPS for the quarter, missing the consensus estimate of $1.47 by ($0.05). Shell had a return on equity of 11.71% and a net margin of 4.75%. The company had revenue of $66.44 billion for the quarter, compared to analyst estimates of $69.31 billion. As a group, sell-side analysts forecast that Shell PLC Unsponsored ADR will post 7.67 EPS for the current fiscal year.

Shell announced that its Board of Directors has initiated a stock repurchase plan on Friday, May 2nd that authorizes the company to repurchase $3.50 billion in outstanding shares. This repurchase authorization authorizes 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 management believes its shares are undervalued.

Shell Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 23rd. Investors of record on Friday, May 16th were given a dividend of $0.716 per share. The ex-dividend date was Friday, May 16th. This represents a $2.86 dividend on an annualized basis and a yield of 4.0%. Shell's dividend payout ratio (DPR) is presently 65.90%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on SHEL shares. Sanford C. Bernstein cut shares of Shell from an "outperform" rating to a "market perform" rating in a research note on Monday, June 16th. Santander cut Shell to a "neutral" rating in a report on Friday, July 11th. Piper Sandler boosted their target price on Shell from $83.00 to $84.00 and gave the company an "overweight" rating in a research note on Tuesday, July 15th. Hsbc Global Res upgraded shares of Shell to a "strong-buy" rating in a research note on Tuesday, May 13th. Finally, Wells Fargo & Company decreased their price objective on shares of Shell from $80.00 to $79.00 and set an "overweight" rating for the company in a report on Thursday, June 26th. Three equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $78.69.

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.