Invesco Ltd. Trims Holdings in Shell PLC Unsponsored ADR $SHEL

Key Points

• Invesco Ltd. has reduced its stake in Shell PLC Unsponsored ADR by 0.8%, now holding 736,290 shares worth approximately $53.96 million.
• Several institutional investors have recently adjusted their stakes in Shell, with Voloridge Investment Management LLC increasing its shares by 170.3% during the fourth quarter.
• Shell recently announced a quarterly dividend of $0.716, representing an annualized dividend yield of 4.0% and a share repurchase program of up to $3.50 billion.

Invesco Ltd. cut its stake in shares of Shell PLC Unsponsored ADR (NYSE:SHEL - Free Report) by 0.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 736,290 shares of the energy company's stock after selling 5,594 shares during the quarter. Invesco Ltd.'s holdings in Shell were worth $53,955,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SHEL. Brighton Jones LLC increased its position in 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 lifted its holdings 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 purchasing an additional 4,512 shares in the last quarter. Gamco Investors INC. ET AL grew its position in Shell by 3.3% in the 4th quarter. Gamco Investors INC. ET AL now owns 10,042 shares of the energy company's stock valued at $629,000 after purchasing an additional 319 shares during the period. First Trust Advisors LP raised its holdings in Shell by 105.6% during the fourth quarter. First Trust Advisors LP now owns 136,134 shares of the energy company's stock worth $8,529,000 after buying an additional 69,929 shares during the last quarter. Finally, MML Investors Services LLC grew its holdings in shares of Shell by 18.3% during the fourth quarter. MML Investors Services LLC now owns 149,983 shares of the energy company's stock valued at $9,396,000 after buying an additional 23,162 shares during the last quarter. 28.60% of the stock is owned by institutional investors.

Shell Price Performance

SHEL traded down $0.0750 during midday trading on Tuesday, hitting $71.4350. The stock had a trading volume of 2,297,643 shares, compared to its average volume of 3,893,880. The company has a market cap of $209.89 billion, a P/E ratio of 16.09, a price-to-earnings-growth ratio of 1.90 and a beta of 0.44. Shell PLC Unsponsored ADR has a 1 year low of $58.54 and a 1 year high of $74.18. The business has a fifty day moving average of $71.56 and a 200 day moving average of $68.48. 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 (NYSE:SHEL - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The energy company reported $1.42 earnings per share for the quarter, topping analysts' consensus estimates of $1.13 by $0.29. Shell had a net margin of 4.93% and a return on equity of 10.67%. The firm had revenue of $66.44 billion during the quarter, compared to analyst estimates of $69.31 billion. As a group, equities analysts forecast that Shell PLC Unsponsored ADR will post 7.67 earnings per share for the current fiscal year.

Shell announced that its board has authorized a share repurchase plan on Friday, May 2nd that authorizes the company to buyback $3.50 billion in shares. This buyback authorization authorizes the energy company to reacquire up to 1.8% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's board believes its stock is undervalued.

Shell Announces Dividend

The business also recently announced 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 annualized dividend and a yield of 4.0%. Shell's dividend payout ratio is currently 64.41%.

Analyst Ratings Changes

SHEL has been the subject of a number of analyst reports. Piper Sandler cut their price target on Shell from $84.00 to $82.00 and set an "overweight" rating for the company in a research note on Monday. Santander cut shares of Shell to a "neutral" rating in a research report on Friday, July 11th. Scotiabank restated an "outperform" rating on shares of Shell in a research report on Friday, July 11th. Wells Fargo & Company dropped their price target on Shell from $80.00 to $79.00 and set an "overweight" rating on the stock in a research report on Thursday, June 26th. Finally, Hsbc Global Res lowered shares of Shell from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 4th. Ten analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Shell currently has an average rating of "Moderate Buy" and an average price target of $78.39.

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.