Shell PLC Unsponsored ADR $SHEL Shares Bought by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. increased its holdings in Shell PLC Unsponsored ADR by 26.3% in the first quarter, bringing their total to approximately $18.50 million worth of shares.
• Shell announced a $3.50 billion share repurchase program, indicating management believes their stock is undervalued, and declared a quarterly dividend of $0.716 per share set to be paid on September 22nd.
• Shell reported a quarterly earnings per share of $1.42, exceeding estimates but falling short on revenue, totaling $66.44 billion, below the expected $69.31 billion.

Charles Schwab Investment Management Inc. boosted its stake in Shell PLC Unsponsored ADR (NYSE:SHEL - Free Report) by 26.3% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 252,397 shares of the energy company's stock after buying an additional 52,541 shares during the period. Charles Schwab Investment Management Inc.'s holdings in Shell were worth $18,496,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of SHEL. Brighton Jones LLC grew its stake in shares of 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 in the last quarter. Barclays PLC raised its stake in shares of Shell by 136.2% during the fourth quarter. Barclays PLC now owns 7,824 shares of the energy company's stock worth $490,000 after buying an additional 4,512 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in 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 acquiring an additional 815 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Shell by 2.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 908,572 shares of the energy company's stock valued at $66,580,000 after purchasing an additional 23,680 shares in the last quarter. Finally, Merit Financial Group LLC boosted its holdings 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 during the period. 28.60% of the stock is currently owned by institutional investors and hedge funds.

Shell Stock Down 0.1%

Shell stock traded down $0.11 on Tuesday, hitting $73.71. 2,616,406 shares of the stock traded hands, compared to its average volume of 4,635,544. Shell PLC Unsponsored ADR has a 1 year low of $58.54 and a 1 year 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. The firm has a market cap of $216.58 billion, a P/E ratio of 16.60, a price-to-earnings-growth ratio of 1.94 and a beta of 0.44. The business's fifty day simple moving average is $71.66 and its 200 day simple moving average is $68.69.

Shell (NYSE:SHEL - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The energy company reported $1.42 earnings per share (EPS) 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 net margin of 4.93% and a return on equity of 10.67%. As a group, sell-side analysts forecast that Shell PLC Unsponsored ADR will post 7.67 earnings per share for the current year.

Shell declared that its board has initiated a share repurchase program on Friday, May 2nd that permits the company to buyback $3.50 billion in outstanding shares. This buyback authorization permits the energy company to reacquire up to 1.8% of its shares through open market purchases. Shares buyback programs are often a sign that the company's management believes its shares are 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 issued a dividend of $0.716 per share. The ex-dividend date is Friday, August 15th. This represents a $2.86 dividend on an annualized basis and a yield of 3.9%. Shell's dividend payout ratio (DPR) is presently 64.41%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on SHEL shares. Hsbc Global Res cut Shell from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 4th. Wells Fargo & Company decreased their price objective on Shell from $80.00 to $79.00 and set an "overweight" rating for the company in a report on Thursday, June 26th. Melius started coverage on Shell in a report on Wednesday, August 20th. They issued a "hold" rating and a $70.00 price target on the stock. HSBC reaffirmed a "hold" rating and issued a $78.30 price objective (down from $78.90) on shares of Shell in a research report on Monday, August 4th. Finally, Sanford C. Bernstein cut Shell from an "outperform" rating to a "market perform" rating in a research report on Monday, June 16th. Ten research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target 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.