Rathbones Group PLC Trims Stake in Shell PLC Unsponsored ADR (NYSE:SHEL)

Key Points

• Rathbones Group PLC significantly reduced its stake in Shell PLC Unsponsored ADR by 73.5% during the first quarter, selling over 96,000 shares and retaining 34,669 shares valued at approximately $2.53 million.
• Several analysts have downgraded Shell's stock ratings recently, with Sanford C. Bernstein reducing its rating from "outperform" to "market perform" and HSBC downgrading from "strong-buy" to "hold."
• Shell announced a $0.716 quarterly dividend set to be paid on September 22nd, representing an annual yield of 3.9% and a payout ratio of 64.41%.

Rathbones Group PLC cut its stake in Shell PLC Unsponsored ADR (NYSE:SHEL - Free Report) by 73.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 34,669 shares of the energy company's stock after selling 96,220 shares during the period. Rathbones Group PLC's holdings in Shell were worth $2,533,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Cypress Capital Group bought a new stake in shares of Shell during the first quarter valued at approximately $213,000. Meridian Wealth Management LLC raised its holdings in Shell by 6.6% in the first quarter. Meridian Wealth Management LLC now owns 10,995 shares of the energy company's stock worth $806,000 after purchasing an additional 682 shares in the last quarter. Independent Advisor Alliance boosted its holdings in shares of Shell by 5.6% during the 1st quarter. Independent Advisor Alliance now owns 18,562 shares of the energy company's stock valued at $1,360,000 after buying an additional 992 shares in the last quarter. Linscomb Wealth Inc. purchased a new stake in shares of Shell in the 1st quarter worth about $224,000. Finally, SouthState Corp increased its stake in shares of Shell by 2.8% in the 1st quarter. SouthState Corp now owns 83,990 shares of the energy company's stock worth $6,155,000 after acquiring an additional 2,309 shares in the last quarter. 28.60% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently 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. Hsbc Global Res cut Shell from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 4th. Santander lowered Shell to a "neutral" rating in a research report on Friday, July 11th. Piper Sandler boosted their target price on Shell from $83.00 to $84.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. Finally, HSBC restated a "hold" rating and set a $78.30 price target (down from $78.90) on shares of Shell in a report on Monday, August 4th. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $78.64.

Shell Stock Up 0.6%

SHEL stock opened at $72.69 on Thursday. The stock has a market capitalization of $214.88 billion, a P/E ratio of 16.37, a P/E/G ratio of 1.92 and a beta of 0.44. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.32 and a quick ratio of 1.07. Shell PLC Unsponsored ADR has a 1-year low of $58.54 and a 1-year high of $74.18. The business has a fifty day moving average price of $71.28 and a 200-day moving average price of $68.28.

Shell (NYSE:SHEL - Get Free Report) last posted its earnings results 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 business had revenue of $66.44 billion for the quarter, compared to analysts' expectations of $69.31 billion. Equities analysts forecast that Shell PLC Unsponsored ADR will post 7.67 earnings per share for the current fiscal year.

Shell Dividend Announcement

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

Shell declared that its Board of Directors has initiated a stock repurchase program on Friday, May 2nd that permits the company to repurchase $3.50 billion in outstanding shares. This repurchase authorization permits the energy company to repurchase up to 1.8% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's board believes its stock is undervalued.

About Shell

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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