Vestmark Advisory Solutions Inc. Increases Holdings in Shell PLC Unsponsored ADR $SHEL

Key Points

• Vestmark Advisory Solutions Inc. increased its holdings in Shell PLC Unsponsored ADR by 84.6% during the first quarter, owning a total of 43,533 shares worth $3,190,000.
• A number of hedge funds, including GQG Partners LLC and Deutsche Bank AG, have significantly boosted their stakes in Shell, showing strong institutional interest in the company despite a 1.0% drop in stock price recently.
• Shell announced a recent quarterly dividend of $0.716, contributing to an annualized dividend yield of 4.0%, alongside a stock buyback plan worth $3.50 billion.

Vestmark Advisory Solutions Inc. increased its holdings in Shell PLC Unsponsored ADR (NYSE:SHEL - Free Report) by 84.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 43,533 shares of the energy company's stock after buying an additional 19,957 shares during the quarter. Vestmark Advisory Solutions Inc.'s holdings in Shell were worth $3,190,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Sit Investment Associates Inc. raised its holdings in Shell by 3.0% in the 1st quarter. Sit Investment Associates Inc. now owns 136,800 shares of the energy company's stock worth $10,025,000 after purchasing an additional 3,947 shares during the period. Neuberger Berman Group LLC lifted its holdings in Shell by 7.6% during the first quarter. Neuberger Berman Group LLC now owns 513,791 shares of the energy company's stock valued at $37,611,000 after purchasing an additional 36,354 shares in the last quarter. Boston Partners grew its position in shares of Shell by 11.2% in the first quarter. Boston Partners now owns 895,359 shares of the energy company's stock valued at $65,565,000 after purchasing an additional 89,831 shares during the period. GQG Partners LLC increased its stake in shares of Shell by 42,743.3% during the first quarter. GQG Partners LLC now owns 2,867,929 shares of the energy company's stock worth $210,162,000 after purchasing an additional 2,861,235 shares in the last quarter. Finally, Financial Network Wealth Advisors LLC lifted its stake in Shell by 3,122.2% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 580 shares of the energy company's stock valued at $43,000 after buying an additional 562 shares in the last quarter. 28.60% of the stock is owned by hedge funds and other institutional investors.

Shell Stock Up 0.9%

SHEL traded up $0.6710 during trading hours on Wednesday, hitting $72.1210. 2,675,301 shares of the company's stock were exchanged, compared to its average volume of 4,678,041. The firm has a market cap of $211.90 billion, a P/E ratio of 16.25, a price-to-earnings-growth ratio of 1.90 and a beta of 0.44. Shell PLC Unsponsored ADR has a 12-month low of $58.54 and a 12-month high of $74.18. The company has a current ratio of 1.32, a quick ratio of 1.07 and a debt-to-equity ratio of 0.36. The firm has a 50 day moving average of $71.56 and a 200 day moving average of $68.48.

Shell (NYSE:SHEL - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The energy company reported $1.42 EPS for the quarter, topping the consensus estimate of $1.13 by $0.29. The business had revenue of $66.44 billion during the quarter, compared to the consensus estimate of $69.31 billion. Shell had a net margin of 4.93% and a return on equity of 10.67%. Analysts predict that Shell PLC Unsponsored ADR will post 7.67 EPS for the current fiscal year.

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 reacquire 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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 22nd. Stockholders of record on Friday, August 15th will be paid a $0.716 dividend. This represents a $2.86 annualized dividend and a dividend yield of 4.0%. The ex-dividend date is Friday, August 15th. Shell's dividend payout ratio (DPR) is presently 64.41%.

Analyst Ratings Changes

A number of equities analysts have commented on SHEL shares. Piper Sandler reduced their target price on Shell from $84.00 to $82.00 and set an "overweight" rating for the company in a report on Monday. Melius assumed coverage on Shell in a research note on Wednesday. They issued a "hold" rating and a $70.00 price objective for the company. Santander cut shares of 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 from $78.90) on shares of Shell in a research note on Monday, August 4th. Finally, Melius Research initiated coverage on shares of Shell in a research note on Wednesday. They set a "hold" rating and a $70.00 price objective for the company. Ten research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $76.71.

About Shell

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.