Shell PLC Unsponsored ADR $SHEL Shares Sold by Lord Abbett & CO. LLC

Key Points

• Lord Abbett & CO. LLC reduced its ownership in Shell PLC by 22.1%, now holding approximately 2.08 million shares, valued at $152.73 million, following the sale of 591,384 shares in the first quarter.
• Institutional investors collectively own 28.60% of Shell's stock, with notable increases from firms like Warther Private Wealth and Harbour Capital Advisors during the same period.
• Shell's stock has a consensus rating of "Moderate Buy", with an average price target of $78.64, despite some analysts cutting their ratings recently.

Lord Abbett & CO. LLC reduced its stake in Shell PLC Unsponsored ADR (NYSE:SHEL - Free Report) by 22.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,084,216 shares of the energy company's stock after selling 591,384 shares during the quarter. Lord Abbett & CO. LLC owned about 0.07% of Shell worth $152,731,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in SHEL. Brighton Jones LLC lifted its position in shares of Shell by 51.7% during the 4th quarter. Brighton Jones LLC now owns 7,463 shares of the energy company's stock worth $468,000 after buying an additional 2,545 shares in the last quarter. Barclays PLC lifted its stake in shares of Shell by 136.2% in the 4th quarter. Barclays PLC now owns 7,824 shares of the energy company's stock valued at $490,000 after acquiring an additional 4,512 shares during the last quarter. CreativeOne Wealth LLC boosted its holdings in shares of Shell by 6.8% during the fourth quarter. CreativeOne Wealth LLC now owns 8,888 shares of the energy company's stock worth $557,000 after purchasing an additional 564 shares during the period. Gamco Investors INC. ET AL boosted its holdings in Shell by 3.3% in the fourth quarter. Gamco Investors INC. ET AL now owns 10,042 shares of the energy company's stock valued at $629,000 after acquiring an additional 319 shares in the last quarter. Finally, Evergreen Capital Management LLC raised its stake in Shell by 0.9% in the fourth quarter. Evergreen Capital Management LLC now owns 218,933 shares of the energy company's stock worth $13,716,000 after buying an additional 1,995 shares in the last quarter. Institutional investors own 28.60% of the company's stock.

Shell Stock Up 0.0%

SHEL stock traded up $0.0130 during trading on Tuesday, reaching $71.5230. 1,018,447 shares of the company traded hands, compared to its average volume of 4,682,792. The company has a market capitalization of $210.15 billion, a price-to-earnings ratio of 16.12, a price-to-earnings-growth ratio of 1.91 and a beta of 0.44. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.07 and a current ratio of 1.32. The business has a 50 day simple moving average of $71.53 and a 200 day simple moving average of $68.46. Shell PLC Unsponsored ADR has a 12 month low of $58.54 and a 12 month high of $74.18.

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

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

Shell Announces Dividend

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

Wall Street Analysts Forecast Growth

SHEL has been the topic of a number of analyst reports. 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. HSBC reaffirmed a "hold" rating and issued a $78.30 price objective (down previously from $78.90) on shares of Shell in a report on Monday, August 4th. Santander cut Shell to a "neutral" rating in a report on Friday, July 11th. Sanford C. Bernstein cut Shell from an "outperform" rating to a "market perform" rating in a research report on Monday, June 16th. Finally, Hsbc Global Res downgraded Shell from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 4th. Ten equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, Shell currently has a consensus 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.