Harvest Portfolios Group Inc. Lowers Position in Shell PLC Unsponsored ADR $SHEL

Key Points

• Harvest Portfolios Group Inc. reduced its stake in Shell PLC Unsponsored ADR by 3.2%, now holding 309,159 shares valued at approximately $22.65 million.
• Several large investors have increased their holdings, with Goldman Sachs Group Inc. raising its stake by 21.2%, now owning over 6.5 million shares.
• Shell recently declared a quarterly dividend of $0.716 per share, resulting in an annualized dividend yield of 3.9% and a dividend payout ratio of 64.41%.

Harvest Portfolios Group Inc. lessened its stake in shares of Shell PLC Unsponsored ADR (NYSE:SHEL - Free Report) by 3.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 309,159 shares of the energy company's stock after selling 10,336 shares during the period. Harvest Portfolios Group Inc.'s holdings in Shell were worth $22,655,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the business. Kennebec Savings Bank purchased a new stake in shares of Shell in the 1st quarter valued at approximately $25,000. Avalon Trust Co purchased a new stake in shares of Shell in the 1st quarter valued at approximately $25,000. Brown Lisle Cummings Inc. grew its stake in shares of Shell by 103.4% in 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 period. Cheviot Value Management LLC purchased a new stake in shares of Shell in the 1st quarter valued at approximately $37,000. Finally, Greykasell Wealth Strategies Inc. purchased a new stake in shares of Shell in the 1st quarter valued at approximately $38,000. Institutional investors and hedge funds own 28.60% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on SHEL. Hsbc Global Res cut shares of Shell from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 4th. Sanford C. Bernstein cut shares of Shell from an "outperform" rating to a "market perform" rating in a research report on Monday, June 16th. Wells Fargo & Company lowered their price objective 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. Scotiabank reaffirmed an "outperform" rating on shares of Shell in a research report on Friday, July 11th. Finally, Melius initiated coverage on shares of Shell in a research report on Wednesday, August 20th. They set a "hold" rating and a $70.00 price objective for the company. Ten investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to data from MarketBeat, Shell has a consensus rating of "Moderate Buy" and a consensus price target of $76.71.

Shell Stock Up 0.4%

Shares of SHEL traded up $0.28 during midday trading on Thursday, reaching $73.99. The stock had a trading volume of 1,964,367 shares, compared to its average volume of 3,448,972. Shell PLC Unsponsored ADR has a 1-year low of $58.54 and a 1-year high of $74.18. The company's fifty day simple moving average is $71.77 and its two-hundred day simple moving average is $68.81. The company has a market cap of $217.40 billion, a price-to-earnings ratio of 16.66, a PEG ratio of 1.95 and a beta of 0.44. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.32 and a quick ratio of 1.07.

Shell (NYSE:SHEL - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The energy company reported $1.42 earnings per share for the quarter, beating 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 business had revenue of $66.44 billion for the quarter, compared to analyst estimates of $69.31 billion. Equities research analysts expect that Shell PLC Unsponsored ADR will post 7.67 earnings per share for the current year.

Shell Dividend Announcement

The firm also recently disclosed 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. 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 dividend payout ratio (DPR) is presently 64.41%.

Shell announced that its Board of Directors has authorized a stock buyback plan on Friday, May 2nd that permits the company to repurchase $3.50 billion in outstanding shares. This repurchase authorization permits the energy company to buy up to 1.8% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's leadership believes its shares are 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.