Wellington Management Group LLP Sells 94,069 Shares of Shell PLC Unsponsored ADR $SHEL

Key Points

• Wellington Management Group LLP reduced its stake in Shell PLC by 1.2%, selling 94,069 shares and now holds approximately 0.26% of the company worth $578 million.
• Multiple hedge funds have altered their positions in Shell, with Brighton Jones LLC and Barclays PLC increasing their stakes significantly by 51.7% and 136.2% respectively during the last quarter.
• Shell announced a quarterly dividend of $0.716 per share, translating to an annualized yield of 4.0%, along with a $3.5 billion share buyback program, indicating confidence in the stock's value.

Wellington Management Group LLP decreased its stake in Shell PLC Unsponsored ADR (NYSE:SHEL - Free Report) by 1.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,888,748 shares of the energy company's stock after selling 94,069 shares during the period. Wellington Management Group LLP owned 0.26% of Shell worth $578,087,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Brighton Jones LLC increased its stake in shares of Shell by 51.7% in the fourth quarter. Brighton Jones LLC now owns 7,463 shares of the energy company's stock worth $468,000 after purchasing an additional 2,545 shares in the last quarter. Barclays PLC increased its stake 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 purchasing an additional 4,512 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Shell by 4.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 19,323 shares of the energy company's stock worth $1,401,000 after purchasing an additional 815 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Shell by 2.7% in the first quarter. PNC Financial Services Group Inc. now owns 908,572 shares of the energy company's stock worth $66,580,000 after purchasing an additional 23,680 shares in the last quarter. Finally, Merit Financial Group LLC increased its stake in shares of Shell by 100.9% in the first quarter. Merit Financial Group LLC now owns 11,534 shares of the energy company's stock worth $845,000 after purchasing an additional 5,794 shares in the last quarter. Institutional investors own 28.60% of the company's stock.

Analyst Ratings Changes

SHEL has been the subject of several recent research reports. Scotiabank reiterated an "outperform" rating on shares of Shell in a research note on Friday, July 11th. Piper Sandler reaffirmed an "overweight" rating and set a $82.00 price objective (down previously from $84.00) on shares of Shell in a research note on Monday. Santander cut shares of Shell to a "neutral" rating in a research note on Friday, July 11th. HSBC reaffirmed a "hold" rating and set a $78.30 price objective (down previously from $78.90) on shares of Shell in a research note on Monday, August 4th. Finally, Wells Fargo & Company reduced their price objective on shares of Shell from $80.00 to $79.00 and set an "overweight" rating for the company in a research note on Thursday, June 26th. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat.com, Shell presently has an average rating of "Moderate Buy" and an average target price of $78.39.

Shell Price Performance

SHEL stock opened at $71.52 on Tuesday. 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 PLC Unsponsored ADR has a one year low of $58.54 and a one year high of $74.18. The stock has a market cap of $210.14 billion, a PE ratio of 16.11, a P/E/G ratio of 1.91 and a beta of 0.44. The firm has a 50 day simple moving average of $71.53 and a two-hundred day simple moving average of $68.46.

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

Shell Announces Dividend

The firm also recently disclosed 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. This represents a $2.86 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date is Friday, August 15th. Shell's payout ratio is presently 64.41%.

Shell announced that its Board of Directors has authorized a share buyback program on Friday, May 2nd that allows the company to repurchase $3.50 billion in shares. This repurchase authorization allows the energy company to purchase up to 1.8% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board believes its stock is 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.