Wedge Capital Management L L P NC Has $14.31 Million Stock Holdings in Shell PLC Unsponsored ADR $SHEL

Key Points

• Wedge Capital Management L L P NC reduced its stake in Shell PLC Unsponsored ADR by 12.0%, now holding 203,210 shares worth approximately $14.31 million after selling 27,716 shares.
• Analysts have mixed reviews on Shell, with HSBC maintaining a "hold" rating and a target price of $78.30, while other firms lowered their targets, indicating a consensus price target of $76.71.
• Shell recently announced a quarterly dividend of $0.716 per share, translating to an annual yield of 4.0%, alongside reporting earnings that exceeded analyst expectations with $1.42 earnings per share.

Wedge Capital Management L L P NC cut its holdings in Shell PLC Unsponsored ADR (NYSE:SHEL - Free Report) by 12.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 203,210 shares of the energy company's stock after selling 27,716 shares during the quarter. Wedge Capital Management L L P NC's holdings in Shell were worth $14,308,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the business. Sax Wealth Advisors LLC grew its stake in shares of Shell by 3.9% during the 1st quarter. Sax Wealth Advisors LLC now owns 4,367 shares of the energy company's stock worth $320,000 after acquiring an additional 164 shares in the last quarter. Warther Private Wealth LLC raised its stake in Shell by 5.0% during the first quarter. Warther Private Wealth LLC now owns 3,433 shares of the energy company's stock worth $252,000 after buying an additional 165 shares during the last quarter. Harbour Capital Advisors LLC raised its holdings in Shell by 2.4% during the first quarter. Harbour Capital Advisors LLC now owns 7,235 shares of the energy company's stock worth $505,000 after buying an additional 170 shares during the last quarter. Golden State Equity Partners grew its stake in Shell by 5.1% in the 1st quarter. Golden State Equity Partners now owns 3,562 shares of the energy company's stock valued at $261,000 after purchasing an additional 173 shares during the period. Finally, Bruce G. Allen Investments LLC lifted its position in shares of Shell by 2.3% during the second quarter. Bruce G. Allen Investments LLC now owns 7,933 shares of the energy company's stock worth $559,000 after acquiring an additional 177 shares in the last quarter. 28.60% of the stock is owned by hedge funds and other institutional investors.

Shell Price Performance

Shares of NYSE SHEL traded down $0.60 during trading on Friday, hitting $70.84. The company had a trading volume of 3,846,865 shares, compared to its average volume of 3,872,223. Shell PLC Unsponsored ADR has a fifty-two week low of $58.54 and a fifty-two week high of $74.21. The firm has a market capitalization of $207.05 billion, a price-to-earnings ratio of 15.95, a price-to-earnings-growth ratio of 1.82 and a beta of 0.46. The stock has a fifty day simple moving average of $72.11 and a two-hundred day simple moving average of $69.42. 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 released its quarterly earnings results on Thursday, July 31st. The energy company reported $1.42 earnings per share (EPS) 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 the consensus estimate of $69.31 billion. On average, research analysts expect that Shell PLC Unsponsored ADR will post 7.67 earnings per share for the current year.

Shell Dividend Announcement

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

Analysts Set New Price Targets

Several research firms have recently issued reports on SHEL. HSBC reiterated a "hold" rating and set a $78.30 target price (down from $78.90) on shares of Shell in a report on Monday, August 4th. Wells Fargo & Company cut their target price on shares of Shell from $80.00 to $79.00 and set an "overweight" rating for the company in a report on Thursday, June 26th. Sanford C. Bernstein cut shares of Shell from an "outperform" rating to a "market perform" rating in a research note on Monday, June 16th. Hsbc Global Res cut Shell from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 4th. Finally, Santander lowered Shell to a "neutral" rating in a report on Friday, July 11th. Ten equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $76.71.

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.