Cullen Frost Bankers Inc. Buys 6,402 Shares of Shell PLC Unsponsored ADR (NYSE:SHEL)

Cullen Frost Bankers Inc. increased its holdings in shares of Shell PLC Unsponsored ADR (NYSE:SHEL - Free Report) by 16.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 45,645 shares of the energy company's stock after acquiring an additional 6,402 shares during the quarter. Cullen Frost Bankers Inc.'s holdings in Shell were worth $3,345,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Kennebec Savings Bank bought a new stake in shares of Shell in the first quarter valued at $25,000. Brown Lisle Cummings Inc. raised its stake in shares of Shell by 103.4% in the first quarter. Brown Lisle Cummings Inc. now owns 356 shares of the energy company's stock valued at $26,000 after buying an additional 181 shares during the period. CoreFirst Bank & Trust bought a new stake in shares of Shell in the fourth quarter valued at $28,000. Transce3nd LLC purchased a new position in shares of Shell in the fourth quarter valued at $34,000. Finally, Millstone Evans Group LLC purchased a new position in shares of Shell in the fourth quarter valued at $36,000. 28.60% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

SHEL has been the subject of several recent analyst reports. Wells Fargo & Company reduced their target price on Shell from $80.00 to $79.00 and set an "overweight" rating for the company in a research report on Thursday, June 26th. TD Cowen reduced their target price on Shell from $82.00 to $76.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Barclays reaffirmed an "overweight" rating on shares of Shell in a research note on Wednesday, March 26th. Santander lowered Shell to a "neutral" rating in a research note on Friday, July 11th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating on shares of Shell in a research note on Wednesday, March 26th. Three equities research 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 company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $78.69.

Shell Stock Down 0.4%

Shares of Shell stock traded down $0.27 during midday trading on Thursday, hitting $70.40. The company had a trading volume of 3,733,665 shares, compared to its average volume of 4,510,594. 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 stock has a market capitalization of $209.31 billion, a P/E ratio of 16.22, a P/E/G ratio of 1.99 and a beta of 0.40. The company has a 50 day moving average of $69.30 and a 200 day moving average of $67.41. Shell PLC Unsponsored ADR has a 52-week low of $58.55 and a 52-week 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 EPS for the quarter, beating the consensus estimate of $1.54 by $0.30. Shell had a return on equity of 11.71% and a net margin of 4.75%. The business had revenue of $69.23 billion for the quarter, compared to the consensus estimate of $79.18 billion. During the same period last year, the business posted $2.40 EPS. On average, equities analysts predict that Shell PLC Unsponsored ADR will post 7.67 earnings per share for the current fiscal year.

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

Shell Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 23rd. Stockholders of record on Friday, May 16th were issued a dividend of $0.716 per share. The ex-dividend date of this dividend was Friday, May 16th. This represents a $2.86 annualized dividend and a dividend yield of 4.07%. Shell's payout ratio is 65.90%.

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.