Raymond James Financial Inc. Has $217.34 Million Stock Holdings in Shell PLC Unsponsored ADR $SHEL

Key Points

• Raymond James Financial Inc. increased its holdings in Shell PLC by 102.6%, owning 2,965,812 shares valued at $217.34 million at the end of the latest quarter.
• Shell reported $1.42 earnings per share for the last quarter, exceeding analysts' expectations of $1.13, highlighting strong financial performance despite a net revenue of $66.44 billion that fell short of estimates.
• The company also announced a quarterly dividend of $0.716, resulting in an annualized yield of 4.0%, and has begun a stock buyback plan for up to $3.5 billion.

Raymond James Financial Inc. raised its holdings in Shell PLC Unsponsored ADR (NYSE:SHEL - Free Report) by 102.6% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,965,812 shares of the energy company's stock after buying an additional 1,501,866 shares during the quarter. Raymond James Financial Inc. owned 0.10% of Shell worth $217,335,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP grew its holdings in Shell by 2.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 23,272,913 shares of the energy company's stock valued at $1,705,430,000 after buying an additional 451,233 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Shell by 21.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 6,571,809 shares of the energy company's stock worth $481,582,000 after purchasing an additional 1,150,198 shares during the period. Pzena Investment Management LLC increased its holdings in shares of Shell by 0.4% during the 1st quarter. Pzena Investment Management LLC now owns 3,592,218 shares of the energy company's stock worth $263,238,000 after purchasing an additional 15,043 shares during the period. Voloridge Investment Management LLC increased its holdings in shares of Shell by 170.3% during the 4th quarter. Voloridge Investment Management LLC now owns 3,463,372 shares of the energy company's stock worth $216,980,000 after purchasing an additional 2,182,253 shares during the period. Finally, Northern Trust Corp increased its holdings in shares of Shell by 20.1% during the 4th quarter. Northern Trust Corp now owns 3,101,330 shares of the energy company's stock worth $194,298,000 after purchasing an additional 519,105 shares during the period. Institutional investors and hedge funds own 28.60% of the company's stock.

Analyst Upgrades and Downgrades

SHEL has been the topic of several research reports. Santander downgraded shares of Shell to a "neutral" rating in a report on Friday, July 11th. Piper Sandler upped their target price on shares of Shell from $83.00 to $84.00 and gave the company an "overweight" rating in a research note on Tuesday, July 15th. Sanford C. Bernstein cut shares of Shell from an "outperform" rating to a "market perform" rating in a research note on Monday, June 16th. HSBC reaffirmed a "hold" rating and set a $78.30 price objective (down from $78.90) on shares of Shell in a research note on Monday, August 4th. Finally, Wells Fargo & Company decreased their price objective on shares of Shell from $80.00 to $79.00 and set an "overweight" rating on the stock in a research note on Thursday, June 26th. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat, Shell has an average rating of "Moderate Buy" and an average target price of $78.64.

Shell Price Performance

Shares of SHEL stock opened at $71.94 on Monday. Shell PLC Unsponsored ADR has a 1 year low of $58.54 and a 1 year high of $74.18. The firm's 50 day moving average is $71.46 and its 200-day moving average is $68.42. The firm has a market capitalization of $211.37 billion, a price-to-earnings ratio of 16.20, a PEG ratio of 1.91 and a beta of 0.44. The company has a current ratio of 1.32, a quick ratio of 1.07 and a debt-to-equity ratio of 0.36.

Shell (NYSE:SHEL - Get Free Report) last announced its earnings results on Thursday, July 31st. The energy company reported $1.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 analyst estimates of $69.31 billion. Sell-side analysts forecast 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 stock buyback 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 purchase up to 1.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board of directors believes its stock is undervalued.

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 issued a $0.716 dividend. This represents a $2.86 annualized dividend and a yield of 4.0%. The ex-dividend date is Friday, August 15th. Shell's dividend payout ratio is currently 64.41%.

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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