National Bank of Canada FI Has $11.05 Million Stock Holdings in Shell PLC Unsponsored ADR (NYSE:SHEL)

National Bank of Canada FI cut its holdings in Shell PLC Unsponsored ADR (NYSE:SHEL - Free Report) by 66.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 150,836 shares of the energy company's stock after selling 294,586 shares during the quarter. National Bank of Canada FI's holdings in Shell were worth $11,053,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wambolt & Associates LLC raised its stake in shares of Shell by 2.0% in the first quarter. Wambolt & Associates LLC now owns 33,425 shares of the energy company's stock worth $2,442,000 after purchasing an additional 645 shares during the last quarter. AlphaCore Capital LLC purchased a new position in Shell during the first quarter valued at approximately $460,000. Foresight Global Investors Inc. raised its position in Shell by 52.9% during the first quarter. Foresight Global Investors Inc. now owns 168,435 shares of the energy company's stock valued at $12,343,000 after acquiring an additional 58,241 shares in the last quarter. Deutsche Bank AG grew its holdings in Shell by 2,096.7% in the first quarter. Deutsche Bank AG now owns 1,217,115 shares of the energy company's stock valued at $89,190,000 after purchasing an additional 1,161,709 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in Shell by 26.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 252,397 shares of the energy company's stock valued at $18,496,000 after purchasing an additional 52,541 shares during the period. 28.60% of the stock is currently owned by hedge funds and other institutional investors.

Shell Stock Performance

Shares of NYSE:SHEL traded down $0.70 during trading on Friday, hitting $71.94. 3,237,960 shares of the company traded hands, compared to its average volume of 4,008,621. The stock has a market capitalization of $212.67 billion, a price-to-earnings ratio of 16.20, a PEG ratio of 1.91 and a beta of 0.44. The business's fifty day moving average is $71.46 and its 200-day moving average is $68.41. Shell PLC Unsponsored ADR has a one year low of $58.54 and a one year high of $74.18. The company has a quick ratio of 1.07, a current ratio of 1.32 and a debt-to-equity ratio of 0.36.

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

Shell announced that its Board of Directors has initiated a stock repurchase plan on Friday, May 2nd that permits the company to buyback $3.50 billion in outstanding shares. This buyback authorization permits the energy company to repurchase up to 1.8% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's leadership believes its shares are undervalued.

Shell Dividend Announcement

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

Analysts Set New Price Targets

SHEL has been the topic of several recent analyst reports. Piper Sandler upped their price target on Shell from $83.00 to $84.00 and gave the company an "overweight" rating in a research note on Tuesday, July 15th. Wells Fargo & Company decreased their target price on Shell from $80.00 to $79.00 and set an "overweight" rating on the stock in a research note on Thursday, June 26th. Hsbc Global Res lowered Shell from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 4th. Santander downgraded Shell to a "neutral" rating in a report on Friday, July 11th. Finally, Sanford C. Bernstein downgraded Shell from an "outperform" rating to a "market perform" rating in a report on Monday, June 16th. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $78.64.

Shell Company 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.