Shell PLC Unsponsored ADR $SHEL Shares Sold by Huber Capital Management LLC

Key Points

• Huber Capital Management LLC has reduced its stake in Shell PLC by 11.8%, lowering its holdings to 203,052 shares, which account for approximately 2.8% of the fund's overall investments.
• Shell reported a quarterly earnings per share (EPS) of $1.42 for the last quarter, surpassing analysts' estimates of $1.13, despite revenue falling short of expectations at $66.44 billion.
• The company announced a quarterly dividend of $0.716 per share, representing an annualized dividend of $2.86 and a yield of 3.9%.

Huber Capital Management LLC reduced its stake in shares of Shell PLC Unsponsored ADR (NYSE:SHEL - Free Report) by 11.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 203,052 shares of the energy company's stock after selling 27,100 shares during the quarter. Shell comprises about 2.8% of Huber Capital Management LLC's investment portfolio, making the stock its 9th largest holding. Huber Capital Management LLC's holdings in Shell were worth $14,880,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Kennebec Savings Bank bought a new stake in shares of Shell during the first quarter valued at about $25,000. Avalon Trust Co acquired a new position in Shell during the first quarter worth about $25,000. Brown Lisle Cummings Inc. grew its holdings in Shell by 103.4% during the first quarter. Brown Lisle Cummings Inc. now owns 356 shares of the energy company's stock worth $26,000 after acquiring an additional 181 shares during the period. Truvestments Capital LLC grew its holdings in Shell by 102.9% during the first quarter. Truvestments Capital LLC now owns 420 shares of the energy company's stock worth $31,000 after acquiring an additional 213 shares during the period. Finally, Cheviot Value Management LLC acquired a new position in Shell during the first quarter worth about $37,000. 28.60% of the stock is currently owned by institutional investors.

Shell Stock Down 0.0%

NYSE:SHEL traded down $0.01 on Friday, hitting $73.92. 1,874,060 shares of the company's stock traded hands, compared to its average volume of 3,279,760. 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 PLC Unsponsored ADR has a 1 year low of $58.54 and a 1 year high of $74.21. The firm has a 50-day moving average price of $71.80 and a 200-day moving average price of $68.87. The company has a market cap of $217.19 billion, a PE ratio of 16.65, a price-to-earnings-growth ratio of 1.96 and a beta of 0.44.

Shell (NYSE:SHEL - Get Free Report) last released its earnings results on Thursday, July 31st. The energy company reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.29. Shell had a return on equity of 10.67% and a net margin of 4.93%.The company had revenue of $66.44 billion for the quarter, compared to analysts' expectations of $69.31 billion. Equities analysts anticipate that Shell PLC Unsponsored ADR will post 7.67 EPS for the current fiscal year.

Shell Dividend Announcement

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

Wall Street Analysts Forecast Growth

SHEL has been the topic of a number of research analyst reports. Piper Sandler lowered their target price on Shell from $84.00 to $82.00 and set an "overweight" rating on the stock in a report on Monday, August 18th. Wells Fargo & Company lowered their target price on Shell from $80.00 to $79.00 and set an "overweight" rating on the stock in a report on Thursday, June 26th. Santander cut Shell to a "neutral" rating in a research note on Friday, July 11th. HSBC reissued a "hold" rating and issued a $78.30 price target (down previously from $78.90) on shares of Shell in a research note on Monday, August 4th. Finally, Hsbc Global Res cut Shell from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 4th. Ten research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $76.71.

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.