Shell PLC Unsponsored ADR $SHEL Position Boosted by Northern Trust Corp

Key Points

• Northern Trust Corp increased its holdings in Shell PLC by 5.1% in the first quarter, now owning approximately 3.26 million shares valued at around $238.91 million.
• Several hedge funds significantly modified their investments in Shell, with GQG Partners LLC boosting its stake by an astonishing 42,743.3%, now holding nearly 2.87 million shares.
• Shell recently announced a $3.50 billion stock buyback program and has declared a quarterly dividend of $0.716 per share, reflecting a yielding rate of 4.0%.

Northern Trust Corp grew its holdings in shares of Shell PLC Unsponsored ADR (NYSE:SHEL - Free Report) by 5.1% in the first quarter, according to its most recent filing with the SEC. The firm owned 3,260,245 shares of the energy company's stock after acquiring an additional 158,915 shares during the quarter. Northern Trust Corp owned about 0.11% of Shell worth $238,911,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of SHEL. GQG Partners LLC grew its holdings in Shell by 42,743.3% during the first quarter. GQG Partners LLC now owns 2,867,929 shares of the energy company's stock worth $210,162,000 after acquiring an additional 2,861,235 shares during the period. Nuveen LLC acquired a new position in shares of Shell in the 1st quarter worth approximately $180,366,000. Voloridge Investment Management LLC raised its holdings in shares of Shell by 170.3% in 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 in the last quarter. Raymond James Financial Inc. boosted its holdings in Shell by 102.6% during the first quarter. Raymond James Financial Inc. now owns 2,965,812 shares of the energy company's stock worth $217,335,000 after buying an additional 1,501,866 shares in the last quarter. Finally, Freestone Grove Partners LP bought a new stake in Shell during the fourth quarter worth approximately $83,204,000. 28.60% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Sanford C. Bernstein downgraded Shell from an "outperform" rating to a "market perform" rating in a report on Monday, June 16th. Santander lowered shares of Shell to a "neutral" rating in a research note on Friday, July 11th. Piper Sandler dropped their target price on shares of Shell from $84.00 to $82.00 and set an "overweight" rating on the stock in a research report on Monday. Wells Fargo & Company reduced their price target on shares of Shell from $80.00 to $79.00 and set an "overweight" rating for the company in a research report on Thursday, June 26th. Finally, Hsbc Global Res cut shares of Shell from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 4th. Ten analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $76.71.

Shell Stock Up 0.8%

SHEL stock opened at $72.0550 on Thursday. The company has a 50 day moving average of $71.58 and a two-hundred day moving average of $68.51. The company has a market cap of $211.71 billion, a price-to-earnings ratio of 16.23, a PEG ratio of 1.89 and a beta of 0.44. Shell PLC Unsponsored ADR has a 12-month low of $58.54 and a 12-month high of $74.18. The company has a quick ratio of 1.07, a current ratio of 1.32 and a debt-to-equity ratio of 0.36.

Shell (NYSE:SHEL - Get Free Report) last announced its quarterly 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. The business had revenue of $66.44 billion during the quarter, compared to analyst estimates of $69.31 billion. Shell had a return on equity of 10.67% and a net margin of 4.93%. On average, equities analysts anticipate 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 given a dividend of $0.716 per share. 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 4.0%. Shell's payout ratio is currently 64.41%.

Shell declared that its Board of Directors has approved a stock buyback program 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 shares through open market purchases. Shares repurchase programs are generally an indication that the company's leadership believes its stock is undervalued.

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.

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