New York State Common Retirement Fund Buys New Position in Shell PLC Unsponsored ADR (NYSE:SHEL)

New York State Common Retirement Fund purchased a new stake in Shell PLC Unsponsored ADR (NYSE:SHEL - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 869,549 shares of the energy company's stock, valued at approximately $63,721,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of SHEL. Brighton Jones LLC lifted its holdings 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 acquiring an additional 2,545 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Shell by 8.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 199,856 shares of the energy company's stock valued at $12,521,000 after acquiring an additional 14,937 shares during the last quarter. Independent Advisor Alliance lifted its holdings in Shell by 7.4% in the 4th quarter. Independent Advisor Alliance now owns 17,570 shares of the energy company's stock valued at $1,101,000 after acquiring an additional 1,215 shares during the last quarter. Madison Investment Advisors LLC purchased a new stake in Shell during the fourth quarter valued at about $1,648,000. Finally, Choate Investment Advisors lifted its stake in Shell by 119.0% during the fourth quarter. Choate Investment Advisors now owns 7,500 shares of the energy company's stock valued at $470,000 after buying an additional 4,076 shares in the last quarter. 28.60% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have commented on SHEL shares. Sanford C. Bernstein lowered shares of Shell from an "outperform" rating to a "market perform" rating in a research note on Monday, June 16th. Piper Sandler reaffirmed an "overweight" rating and set a $83.00 price objective (up from $80.00) on shares of Shell in a research note on Wednesday, July 2nd. Wells Fargo & Company reduced their price objective on shares of Shell from $80.00 to $79.00 and set an "overweight" rating for the company in a research note on Thursday, June 26th. TD Cowen reduced their price objective 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. Finally, Scotiabank reduced their price objective on shares of Shell from $75.00 to $70.00 and set a "sector outperform" rating for the company in a research note on Friday, April 11th. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $78.54.

Shell Trading Up 0.0%

NYSE:SHEL opened at $72.32 on Monday. The stock's 50 day moving average price is $68.86 and its 200 day moving average price is $67.24. Shell PLC Unsponsored ADR has a 52 week low of $58.55 and a 52 week high of $74.46. The company has a market capitalization of $215.03 billion, a P/E ratio of 16.66, a P/E/G ratio of 1.98 and a beta of 0.40. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.08 and a current ratio of 1.32.

Shell (NYSE:SHEL - Get Free Report) last released its quarterly earnings data on Friday, May 2nd. The energy company reported $1.84 EPS 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 prior year, the company posted $2.40 earnings per share. On average, research analysts forecast that Shell PLC Unsponsored ADR will post 7.67 EPS for the current fiscal year.

Shell Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 23rd. Shareholders of record on Friday, May 16th were given a dividend of $0.716 per share. The ex-dividend date of this dividend was Friday, May 16th. This represents a $2.86 dividend on an annualized basis and a yield of 3.96%. Shell's payout ratio is currently 65.90%.

Shell announced that its Board of Directors has initiated a share repurchase program 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 programs are typically a sign that the company's leadership believes its shares are undervalued.

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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