Pinnacle Financial Partners Inc Buys 13,590 Shares of Shell PLC Unsponsored ADR (NYSE:SHEL)

Pinnacle Financial Partners Inc lifted its position in Shell PLC Unsponsored ADR (NYSE:SHEL - Free Report) by 15.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 103,524 shares of the energy company's stock after buying an additional 13,590 shares during the period. Pinnacle Financial Partners Inc's holdings in Shell were worth $7,586,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Kennebec Savings Bank bought a new position in Shell during the first quarter valued at approximately $25,000. Brown Lisle Cummings Inc. lifted its position in Shell by 103.4% during the first quarter. Brown Lisle Cummings Inc. now owns 356 shares of the energy company's stock valued at $26,000 after purchasing an additional 181 shares during the period. CoreFirst Bank & Trust bought a new position in Shell during the fourth quarter valued at approximately $28,000. Transce3nd LLC bought a new position in Shell during the fourth quarter valued at approximately $34,000. Finally, Millstone Evans Group LLC bought a new position in Shell during the fourth quarter valued at approximately $36,000. Institutional investors own 28.60% of the company's stock.

Shell Price Performance

Shares of NYSE SHEL traded down $0.89 during midday trading on Friday, reaching $71.40. The stock had a trading volume of 2,413,800 shares, compared to its average volume of 4,451,863. The stock has a 50-day moving average of $68.26 and a 200-day moving average of $66.88. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.08 and a current ratio of 1.32. The company has a market capitalization of $212.28 billion, a price-to-earnings ratio of 16.45, a price-to-earnings-growth ratio of 1.81 and a beta of 0.40. Shell PLC Unsponsored ADR has a 12-month low of $58.55 and a 12-month high of $74.46.

Shell (NYSE:SHEL - Get Free Report) last issued its earnings results on Friday, May 2nd. The energy company reported $1.84 earnings per share for the quarter, topping 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 analyst estimates of $79.18 billion. During the same quarter in the prior year, the business earned $2.40 earnings per share. As a group, research analysts anticipate that Shell PLC Unsponsored ADR will post 7.67 EPS for the current fiscal year.

Shell declared that its Board of Directors has authorized a share buyback program on Friday, May 2nd that authorizes the company to buyback $3.50 billion in shares. This buyback authorization authorizes the energy company to buy up to 1.8% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's board believes its shares are undervalued.

Shell Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 23rd. Investors of record on Friday, May 16th were given a dividend of $0.716 per share. The ex-dividend date was Friday, May 16th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 4.01%. Shell's dividend payout ratio is 65.90%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on SHEL. Hsbc Global Res raised shares of Shell to a "strong-buy" rating in a report on Tuesday, May 13th. Sanford C. Bernstein cut shares of Shell from an "outperform" rating to a "market perform" rating in a report on Monday, June 16th. Wells Fargo & Company reduced their target price on shares of Shell from $80.00 to $79.00 and set an "overweight" rating for the company in a report on Thursday, June 26th. Scotiabank reduced their target price on shares of Shell from $75.00 to $70.00 and set a "sector outperform" rating for the company in a report on Friday, April 11th. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $83.00 target price (up from $80.00) on shares of Shell in a report on Wednesday. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $78.54.

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.