Commerce Bank Sells 4,368 Shares of Shell PLC Unsponsored ADR (NYSE:SHEL)

Key Points

• Commerce Bank has decreased its holdings in Shell PLC Unsponsored ADR (NYSE:SHEL) by 11.6%, selling 4,368 shares, resulting in an ownership of 33,429 shares valued at $2.45 million.
• Shell has announced a share buyback program allowing repurchases of up to $3.50 billion in outstanding shares, indicating management's belief that the shares are undervalued.
• Despite a recent earnings report beating analyst expectations with an EPS of $1.42, Shell's revenue fell short, coming in at $66.44 billion compared to expectations of $69.31 billion.

Commerce Bank lowered its position in shares of Shell PLC Unsponsored ADR (NYSE:SHEL - Free Report) by 11.6% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 33,429 shares of the energy company's stock after selling 4,368 shares during the period. Commerce Bank's holdings in Shell were worth $2,450,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in SHEL. Brighton Jones LLC grew its stake in shares of Shell by 51.7% in 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 during the last quarter. Barclays PLC grew its position in shares of Shell by 136.2% in the 4th 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 increased 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 valued at $1,401,000 after buying an additional 815 shares during the period. Merit Financial Group LLC lifted its stake in Shell by 100.9% in the first quarter. Merit Financial Group LLC now owns 11,534 shares of the energy company's stock worth $845,000 after acquiring an additional 5,794 shares during the period. Finally, Kingsview Wealth Management LLC increased 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 valued at $1,563,000 after purchasing an additional 5,002 shares during the period. Institutional investors own 28.60% of the company's stock.

Shell Stock Performance

NYSE:SHEL opened at $71.78 on Tuesday. The stock has a 50-day simple moving average of $70.56 and a two-hundred day simple moving average of $68.03. 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 52-week low of $58.54 and a 52-week high of $74.18. The firm has a market capitalization of $212.19 billion, a PE ratio of 16.17, a P/E/G ratio of 2.09 and a beta of 0.44.

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

Shell declared that its board has approved a share buyback program on Friday, May 2nd that allows the company to repurchase $3.50 billion in outstanding shares. This repurchase authorization allows 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 shares are undervalued.

Shell Dividend Announcement

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

Analyst Ratings Changes

SHEL has been the topic of a number of research reports. Wells Fargo & Company cut their target price on shares of Shell from $80.00 to $79.00 and set an "overweight" rating on the stock in a research note on Thursday, June 26th. Sanford C. Bernstein lowered shares of Shell from an "outperform" rating to a "market perform" rating in a research note on Monday, June 16th. Scotiabank reaffirmed an "outperform" rating on shares of Shell in a research note on Friday, July 11th. Santander cut Shell to a "neutral" rating in a research report on Friday, July 11th. Finally, TD Cowen dropped their target price on Shell from $82.00 to $76.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Shell presently has an average rating of "Moderate Buy" and a consensus price target of $78.64.

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.

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