US Bancorp DE Sells 7,957 Shares of Shell PLC Unsponsored ADR (NYSE:SHEL)

Key Points

• US Bancorp DE has reduced its stake in Shell PLC Unsponsored ADR by 2.2%, selling 7,957 shares and retaining a total of 359,282 shares valued at approximately $26.3 million.
• Various institutional investors, including Brighton Jones LLC and Barclays PLC, have increased their positions in Shell, showcasing a trend of growing interest in the energy company.
• Shell recently declared a quarterly dividend of $0.716 per share and authorized a stock buyback program worth $3.5 billion, indicating a strong belief in its own share value.

US Bancorp DE lessened its holdings in Shell PLC Unsponsored ADR (NYSE:SHEL - Free Report) by 2.2% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 359,282 shares of the energy company's stock after selling 7,957 shares during the quarter. US Bancorp DE's holdings in Shell were worth $26,328,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Kennebec Savings Bank purchased a new stake in Shell during the 1st quarter valued at about $25,000. Brown Lisle Cummings Inc. grew its holdings in shares of Shell by 103.4% during 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 last quarter. Transce3nd LLC purchased a new position in Shell in the 4th quarter worth approximately $34,000. Fourth Dimension Wealth LLC bought a new position in Shell in the 4th quarter valued at approximately $43,000. Finally, Vermillion Wealth Management Inc. purchased a new stake in Shell during the 4th quarter valued at $44,000. Institutional investors own 28.60% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Wells Fargo & Company reduced their price objective on Shell from $80.00 to $79.00 and set an "overweight" rating for the company in a report on Thursday, June 26th. Scotiabank reiterated an "outperform" rating on shares of Shell in a research report on Friday, July 11th. HSBC reissued a "hold" rating and issued a $78.30 price objective (down previously from $78.90) on shares of Shell in a report on Monday. Santander lowered Shell to a "neutral" rating in a research note on Friday, July 11th. Finally, TD Cowen decreased their price objective on Shell from $82.00 to $76.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $78.64.

Shell Price Performance

Shell stock traded up $0.30 during midday trading on Wednesday, reaching $72.70. 2,851,164 shares of the stock traded hands, compared to its average volume of 4,766,692. 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 PLC Unsponsored ADR has a 12 month low of $58.54 and a 12 month high of $74.18. The stock's fifty day moving average is $70.68 and its 200-day moving average is $68.06. The stock has a market cap of $214.93 billion, a P/E ratio of 16.38, a PEG ratio of 1.92 and a beta of 0.44.

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 for the quarter, topping the consensus estimate of $1.13 by $0.29. Shell had a net margin of 4.93% and a return on equity of 10.67%. The company had revenue of $66.44 billion for the quarter, compared to analysts' expectations of $69.31 billion. As a group, equities research analysts anticipate that Shell PLC Unsponsored ADR will post 7.67 EPS for the current year.

Shell announced that its board has authorized a stock buyback plan on Friday, May 2nd that authorizes the company to buyback $3.50 billion in outstanding shares. This buyback authorization authorizes the energy company to reacquire up to 1.8% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's board believes its stock is undervalued.

Shell Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 22nd. Stockholders of record on Friday, August 15th will be issued a $0.716 dividend. 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.