Envestnet Asset Management Inc. Lowers Position in Shell PLC Unsponsored ADR (NYSE:SHEL)

Envestnet Asset Management Inc. lowered its position in Shell PLC Unsponsored ADR (NYSE:SHEL - Free Report) by 2.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,989,988 shares of the energy company's stock after selling 51,081 shares during the period. Envestnet Asset Management Inc. owned about 0.07% of Shell worth $145,826,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in SHEL. Hexagon Capital Partners LLC raised its holdings in Shell by 11.4% during the first quarter. Hexagon Capital Partners LLC now owns 3,565 shares of the energy company's stock worth $261,000 after purchasing an additional 365 shares during the last quarter. Meridian Investment Counsel Inc. acquired a new position in shares of Shell during the 1st quarter worth $218,000. Adell Harriman & Carpenter Inc. grew its stake in Shell by 7.3% in the 1st quarter. Adell Harriman & Carpenter Inc. now owns 140,314 shares of the energy company's stock valued at $10,282,000 after acquiring an additional 9,548 shares during the last quarter. Concurrent Investment Advisors LLC raised its position in Shell by 28.0% during the first quarter. Concurrent Investment Advisors LLC now owns 48,522 shares of the energy company's stock worth $3,556,000 after acquiring an additional 10,606 shares during the last quarter. Finally, World Investment Advisors lifted its holdings in shares of Shell by 5.4% in the first quarter. World Investment Advisors now owns 9,349 shares of the energy company's stock valued at $685,000 after purchasing an additional 481 shares in the last quarter. Hedge funds and other institutional investors own 28.60% of the company's stock.

Shell Trading Up 0.7%

Shares of SHEL stock opened at $71.74 on Thursday. The firm has a market cap of $213.30 billion, a P/E ratio of 16.53, a PEG ratio of 1.79 and a beta of 0.40. Shell PLC Unsponsored ADR has a 1-year low of $58.55 and a 1-year high of $74.46. 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 firm's 50-day simple moving average is $68.59 and its 200-day simple moving average is $67.01.

Shell (NYSE:SHEL - Get Free Report) last posted its quarterly earnings results on Friday, May 2nd. The energy company reported $1.84 EPS for the quarter, beating the consensus estimate of $1.54 by $0.30. Shell had a net margin of 4.75% and a return on equity of 11.71%. The firm had revenue of $69.23 billion for the quarter, compared to analyst estimates of $79.18 billion. During the same quarter last year, the firm posted $2.40 earnings per share. As a group, equities analysts forecast that Shell PLC Unsponsored ADR will post 7.67 EPS for the current year.

Shell declared that its board has approved a stock buyback plan on Friday, May 2nd that allows the company to repurchase $3.50 billion in outstanding shares. This repurchase authorization allows the energy company to buy up to 1.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board believes its stock is undervalued.

Shell Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 23rd. Investors of record on Friday, May 16th were issued a $0.716 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $2.86 annualized dividend and a yield of 3.99%. Shell's payout ratio is 65.90%.

Wall Street Analysts Forecast Growth

SHEL has been the subject of several research reports. Sanford C. Bernstein downgraded Shell from an "outperform" rating to a "market perform" rating in a research report on Monday, June 16th. Wells Fargo & Company reduced 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. TD Cowen cut their target price on shares of Shell from $82.00 to $76.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Piper Sandler reaffirmed an "overweight" rating and set a $83.00 price target (up from $80.00) on shares of Shell in a research note on Wednesday, July 2nd. Finally, TD Securities reaffirmed a "buy" rating on shares of Shell in a research note on Friday, April 4th. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Shell currently has a consensus rating of "Buy" and a consensus price target of $78.54.

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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