Jennison Associates LLC Has $220.34 Million Position in Shell PLC Unsponsored ADR (NYSE:SHEL)

Jennison Associates LLC lowered its stake in shares of Shell PLC Unsponsored ADR (NYSE:SHEL - Free Report) by 1.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,006,802 shares of the energy company's stock after selling 38,241 shares during the period. Jennison Associates LLC owned approximately 0.10% of Shell worth $220,338,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Pzena Investment Management LLC grew its stake in Shell by 0.4% in the first quarter. Pzena Investment Management LLC now owns 3,592,218 shares of the energy company's stock valued at $263,238,000 after acquiring an additional 15,043 shares during the period. Kingsview Wealth Management LLC grew its position in shares of Shell by 30.6% in 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. Woodward Diversified Capital LLC acquired a new stake in Shell during the 1st quarter worth approximately $225,000. Mayflower Financial Advisors LLC bought a new position in Shell in the first quarter valued at approximately $209,000. Finally, Equity Investment Corp increased its position in shares of Shell by 0.6% during the first quarter. Equity Investment Corp now owns 1,029,352 shares of the energy company's stock worth $75,431,000 after acquiring an additional 5,913 shares in the last quarter. 28.60% of the stock is owned by institutional investors.

Shell Stock Performance

Shares of SHEL traded down $0.02 during midday trading on Friday, reaching $70.32. The stock had a trading volume of 5,240,578 shares, compared to its average volume of 4,513,244. The company has a current ratio of 1.32, a quick ratio of 1.08 and a debt-to-equity ratio of 0.36. The firm has a 50 day simple moving average of $69.39 and a 200-day simple moving average of $67.46. The firm has a market cap of $209.08 billion, a PE ratio of 16.20, a P/E/G ratio of 1.98 and a beta of 0.40. Shell PLC Unsponsored ADR has a one year low of $58.55 and a one year high of $74.46.

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

Shell declared that its Board of Directors has initiated 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 often an indication that the company's board believes its stock is undervalued.

Shell Dividend Announcement

The business also recently declared 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. This represents a $2.86 dividend on an annualized basis and a yield of 4.07%. The ex-dividend date of this dividend was Friday, May 16th. Shell's dividend payout ratio is currently 65.90%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Scotiabank reaffirmed an "outperform" rating on shares of Shell in a research note on Friday, July 11th. Sanford C. Bernstein lowered Shell from an "outperform" rating to a "market perform" rating in a research report on Monday, June 16th. Hsbc Global Res upgraded Shell to a "strong-buy" rating in a research note on Tuesday, May 13th. Santander downgraded shares of Shell to a "neutral" rating in a report on Friday, July 11th. Finally, Wells Fargo & Company reduced their target price 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 research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus 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.