Shell PLC Unsponsored ADR (NYSE:SHEL) Shares Sold by Phoenix Financial Ltd.

Key Points

• Phoenix Financial Ltd. has reduced its stake in Shell PLC Unsponsored ADR by 70.4%, holding 24,767 shares valued at approximately $1.82 million as of the last reporting period.
• Shell reported a quarterly EPS of $1.84 for the latest quarter, exceeding estimates, and announced a $3.50 billion stock repurchase plan indicating management's belief that the stock is undervalued.
• Recent analyst ratings show a consensus of “Moderate Buy” for Shell's stock, with a target price averaging $78.69.

Phoenix Financial Ltd. reduced its position in Shell PLC Unsponsored ADR (NYSE:SHEL - Free Report) by 70.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,767 shares of the energy company's stock after selling 58,975 shares during the quarter. Phoenix Financial Ltd.'s holdings in Shell were worth $1,819,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Brighton Jones LLC raised 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 worth $468,000 after purchasing an additional 2,545 shares during the period. Modern Wealth Management LLC raised its position in shares of Shell by 5.3% during the 4th quarter. Modern Wealth Management LLC now owns 6,410 shares of the energy company's stock worth $424,000 after purchasing an additional 325 shares during the last quarter. Financial Counselors Inc. raised its position in shares of Shell by 6.8% during the 4th quarter. Financial Counselors Inc. now owns 24,651 shares of the energy company's stock worth $1,544,000 after purchasing an additional 1,563 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Shell by 5.5% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 6,322 shares of the energy company's stock worth $408,000 after purchasing an additional 331 shares during the last quarter. Finally, Level Four Advisory Services LLC raised its position in shares of Shell by 5.1% during the 4th quarter. Level Four Advisory Services LLC now owns 22,591 shares of the energy company's stock worth $1,415,000 after purchasing an additional 1,087 shares during the last quarter. 28.60% of the stock is owned by hedge funds and other institutional investors.

Shell Stock Performance

SHEL traded down $1.19 on Wednesday, reaching $71.92. The company had a trading volume of 2,400,796 shares, compared to its average volume of 4,767,663. Shell PLC Unsponsored ADR has a 1 year low of $58.54 and a 1 year high of $74.46. The stock has a market capitalization of $212.60 billion, a PE ratio of 16.57, a P/E/G ratio of 2.09 and a beta of 0.40. The company has a quick ratio of 1.08, a current ratio of 1.32 and a debt-to-equity ratio of 0.36. The stock has a 50-day moving average price of $70.10 and a 200-day moving average price of $67.85.

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, beating analysts' consensus estimates of $1.54 by $0.30. Shell had a net margin of 4.75% and a return on equity of 11.71%. The firm had revenue of $69.23 billion during the quarter, compared to analysts' expectations of $79.18 billion. During the same period in the previous year, the company earned $2.40 earnings per share. As a group, research analysts forecast that Shell PLC Unsponsored ADR will post 7.67 EPS for the current fiscal year.

Shell Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 23rd. Shareholders of record on Friday, May 16th were paid a $0.716 dividend. The ex-dividend date was Friday, May 16th. This represents a $2.86 dividend on an annualized basis and a yield of 3.98%. Shell's dividend payout ratio is presently 65.90%.

Shell declared that its board has approved a share repurchase 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 repurchase up to 1.8% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's board believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of analysts have commented on SHEL shares. TD Cowen cut their price objective on shares of Shell from $82.00 to $76.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Hsbc Global Res raised shares of Shell to a "strong-buy" rating in a research report on Tuesday, May 13th. Scotiabank reissued an "outperform" rating on shares of Shell in a research report on Friday, July 11th. TD Securities reaffirmed a "buy" rating on shares of Shell in a research report on Friday, April 4th. Finally, Santander cut shares of Shell to a "neutral" rating in a research report on Friday, July 11th. Three analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $78.69.

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.