Price T Rowe Associates Inc. MD Has $531.52 Million Stake in Shell PLC Unsponsored ADR $SHEL

Key Points

• Price T Rowe Associates Inc. MD increased its stake in Shell PLC by 5.1% in the first quarter, holding over 7.25 million shares valued at approximately $531.5 million.
• Shell recently announced a quarterly dividend of $0.716 per share, representing an annualized yield of 3.9% with a payout ratio of 64.41%.
• The company initiated a share repurchase program authorizing up to $3.50 billion in buybacks, indicating management's belief that the shares may be undervalued.

Price T Rowe Associates Inc. MD raised its holdings in shares of Shell PLC Unsponsored ADR (NYSE:SHEL - Free Report) by 5.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,253,238 shares of the energy company's stock after acquiring an additional 352,569 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 0.24% of Shell worth $531,519,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Kennebec Savings Bank purchased a new position in Shell during the 1st quarter valued at about $25,000. Avalon Trust Co acquired a new stake in shares of Shell during the 1st quarter valued at about $25,000. Brown Lisle Cummings Inc. lifted its holdings in shares of Shell by 103.4% during the 1st 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 last quarter. Cheviot Value Management LLC acquired a new stake in shares of Shell during the 1st quarter valued at about $37,000. Finally, Greykasell Wealth Strategies Inc. acquired a new stake in shares of Shell during the 1st quarter valued at about $38,000. Hedge funds and other institutional investors own 28.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on SHEL. Hsbc Global Res lowered Shell from a "strong-buy" rating to a "hold" rating in a report on Monday, August 4th. Scotiabank reiterated an "outperform" rating on shares of Shell in a report on Friday, July 11th. Melius initiated coverage on Shell in a report on Wednesday, August 20th. They issued a "hold" rating and a $70.00 target price for the company. HSBC restated a "hold" rating and issued a $78.30 target price (down from $78.90) on shares of Shell in a report on Monday, August 4th. Finally, 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 report on Thursday, June 26th. Ten analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $76.71.

Shell Stock Performance

Shares of SHEL stock traded down $0.11 during trading hours on Tuesday, reaching $73.71. 2,616,417 shares of the company's stock were exchanged, compared to its average volume of 4,635,551. Shell PLC Unsponsored ADR has a fifty-two week low of $58.54 and a fifty-two week high of $74.18. The stock has a market capitalization of $216.58 billion, a P/E ratio of 16.60, a P/E/G ratio of 1.94 and a beta of 0.44. The business has a fifty day moving average price of $71.66 and a 200-day moving average price of $68.69. 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 issued its quarterly earnings results on Thursday, July 31st. The energy company reported $1.42 EPS for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $69.31 billion. Analysts predict that Shell PLC Unsponsored ADR will post 7.67 EPS for the current fiscal year.

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

Shell Announces Dividend

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

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.