Shell PLC Unsponsored ADR $SHEL Stake Decreased by Orbis Allan Gray Ltd

Key Points

• Orbis Allan Gray Ltd has reduced its holdings in Shell PLC Unsponsored ADR by 3.1%, now owning approximately 6.46 million shares valued at around $473 million, making Shell the firm’s 9th largest position.
• Institutional investors now own 28.60% of Shell, with several firms like Avalon Trust Co and Kennebec Savings Bank establishing new positions during the first quarter.
• Shell recently announced a quarterly dividend of $0.716 per share, representing a 3.9% dividend yield with a payout ratio of 64.41%.

Orbis Allan Gray Ltd lowered its position in Shell PLC Unsponsored ADR (NYSE:SHEL - Free Report) by 3.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,456,363 shares of the energy company's stock after selling 206,174 shares during the quarter. Shell makes up about 2.7% of Orbis Allan Gray Ltd's holdings, making the stock its 9th biggest holding. Orbis Allan Gray Ltd owned about 0.21% of Shell worth $473,122,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in SHEL. Kennebec Savings Bank purchased a new position in Shell in the first quarter worth approximately $25,000. Avalon Trust Co purchased a new position in Shell in the first quarter worth approximately $25,000. Brown Lisle Cummings Inc. lifted its stake in Shell by 103.4% in the first quarter. Brown Lisle Cummings Inc. now owns 356 shares of the energy company's stock worth $26,000 after acquiring an additional 181 shares during the last quarter. Truvestments Capital LLC lifted its stake in Shell by 102.9% in the first quarter. Truvestments Capital LLC now owns 420 shares of the energy company's stock worth $31,000 after acquiring an additional 213 shares during the last quarter. Finally, Cheviot Value Management LLC purchased a new position in Shell in the first quarter worth approximately $37,000. Hedge funds and other institutional investors own 28.60% of the company's stock.

Analyst Upgrades and Downgrades

SHEL has been the subject of several recent analyst reports. Melius Research initiated coverage on shares of Shell in a research report on Wednesday, August 20th. They set a "hold" rating and a $70.00 price objective for the company. HSBC restated a "hold" rating and set a $78.30 price objective (down previously from $78.90) on shares of Shell in a research report on Monday, August 4th. 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 report on Thursday, June 26th. Piper Sandler reduced their price objective on shares of Shell from $84.00 to $82.00 and set an "overweight" rating for the company in a research report on Monday, August 18th. Finally, Santander downgraded shares of Shell to a "neutral" rating in a research report on Friday, July 11th. Ten equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $76.71.

Shell Stock Performance

SHEL traded down $0.14 during trading on Thursday, hitting $72.60. The stock had a trading volume of 1,989,140 shares, compared to its average volume of 4,568,897. 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 firm has a market capitalization of $213.32 billion, a P/E ratio of 16.35, a PEG ratio of 1.96 and a beta of 0.46. The company's 50-day moving average price is $71.99 and its 200 day moving average price is $68.99. Shell PLC Unsponsored ADR has a twelve month low of $58.54 and a twelve month high of $74.21.

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 (EPS) for the quarter, beating 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 analysts' expectations of $69.31 billion. On average, equities research analysts forecast that Shell PLC Unsponsored ADR will post 7.67 EPS for the current fiscal year.

Shell Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 22nd. Investors of record on Friday, August 15th will be given a $0.716 dividend. The ex-dividend date is Friday, August 15th. This represents a $2.86 annualized dividend and a dividend yield of 3.9%. Shell's payout ratio is currently 64.41%.

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.