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

US Bancorp DE reduced its stake in shares of Shell PLC Unsponsored ADR (NYSE:SHEL - Free Report) by 2.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor 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 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Brighton Jones LLC boosted its stake in Shell by 51.7% in the fourth quarter. Brighton Jones LLC now owns 7,463 shares of the energy company's stock valued at $468,000 after buying an additional 2,545 shares in the last quarter. Barclays PLC lifted its holdings in shares of Shell by 136.2% in the fourth quarter. Barclays PLC now owns 7,824 shares of the energy company's stock worth $490,000 after acquiring an additional 4,512 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Shell by 4.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 19,323 shares of the energy company's stock valued at $1,401,000 after purchasing an additional 815 shares during the last quarter. Merit Financial Group LLC boosted its position in Shell by 100.9% in the first quarter. Merit Financial Group LLC now owns 11,534 shares of the energy company's stock valued at $845,000 after buying an additional 5,794 shares in the last quarter. Finally, Kingsview Wealth Management LLC grew its stake in shares of Shell by 30.6% during the first quarter. Kingsview Wealth Management LLC now owns 21,327 shares of the energy company's stock worth $1,563,000 after buying an additional 5,002 shares during the last quarter. Institutional investors and hedge funds own 28.60% of the company's stock.

Analyst Upgrades and Downgrades

SHEL has been the subject of a number of research reports. Hsbc Global Res upgraded Shell to a "strong-buy" rating in a research note on Tuesday, May 13th. Sanford C. Bernstein lowered Shell from an "outperform" rating to a "market perform" rating in a research note on Monday, June 16th. TD Cowen lowered their price objective on Shell from $82.00 to $76.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Piper Sandler lifted their target price on shares of Shell from $83.00 to $84.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 15th. Finally, Scotiabank restated an "outperform" rating on shares of Shell in a research report on Friday, July 11th. Three equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Shell currently has an average rating of "Moderate Buy" and an average price target of $78.69.

Shell Trading Down 0.3%

SHEL opened at $71.99 on Friday. The stock has a market cap of $212.81 billion, a PE ratio of 16.21, a price-to-earnings-growth ratio of 2.09 and a beta of 0.44. The company has a quick ratio of 1.08, a current ratio of 1.32 and a debt-to-equity ratio of 0.36. Shell PLC Unsponsored ADR has a twelve month low of $58.54 and a twelve month high of $74.18. The company has a fifty day moving average of $70.45 and a 200-day moving average of $67.98.

Shell (NYSE:SHEL - Get Free Report) last posted its quarterly earnings data 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 return on equity of 10.66% and a net margin of 4.93%. The firm had revenue of $66.44 billion during the quarter, compared to analyst estimates of $69.31 billion. On average, sell-side analysts predict that Shell PLC Unsponsored ADR will post 7.67 EPS for the current year.

Shell Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 23rd. Stockholders of record on Friday, May 16th were paid a $0.716 dividend. The ex-dividend date was Friday, May 16th. This represents a $2.86 annualized dividend and a dividend yield of 4.0%. Shell's payout ratio is currently 65.90%.

Shell declared that its Board of Directors has initiated a stock buyback program on Friday, May 2nd that authorizes the company to buyback $3.50 billion in outstanding shares. This buyback authorization authorizes the energy company to purchase up to 1.8% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's leadership believes its shares are undervalued.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.