Seven Mile Advisory Trims Stake in Shell PLC Unsponsored ADR (NYSE:SHEL)

Seven Mile Advisory lowered its position in Shell PLC Unsponsored ADR (NYSE:SHEL) by 7.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,396 shares of the energy company’s stock after selling 420 shares during the quarter. Seven Mile Advisory’s holdings in Shell were worth $395,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Brighton Jones LLC increased its stake in Shell by 51.7% in the 4th quarter. Brighton Jones LLC now owns 7,463 shares of the energy company’s stock worth $468,000 after buying an additional 2,545 shares during the period. Barclays PLC increased its stake in Shell by 136.2% in the 4th quarter. Barclays PLC now owns 7,824 shares of the energy company’s stock worth $490,000 after buying an additional 4,512 shares during the period. Allspring Global Investments Holdings LLC increased its stake in Shell by 4.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 19,323 shares of the energy company’s stock worth $1,401,000 after buying an additional 815 shares during the period. PNC Financial Services Group Inc. increased its stake in Shell by 2.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 908,572 shares of the energy company’s stock worth $66,580,000 after buying an additional 23,680 shares during the period. Finally, Merit Financial Group LLC increased its stake in Shell by 100.9% in the 1st quarter. Merit Financial Group LLC now owns 11,534 shares of the energy company’s stock worth $845,000 after buying an additional 5,794 shares during the period. Hedge funds and other institutional investors own 28.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on SHEL shares. HSBC reaffirmed a “hold” rating and issued a $78.30 price target (down previously from $78.90) on shares of Shell in a research note on Monday, August 4th. Sanford C. Bernstein cut shares of Shell from an “outperform” rating to a “market perform” rating in a report on Monday, June 16th. Piper Sandler increased their target price on shares of Shell from $83.00 to $84.00 and gave the stock an “overweight” rating in a report on Tuesday, July 15th. Hsbc Global Res cut shares of Shell from a “strong-buy” rating to a “hold” rating in a report on Monday, August 4th. Finally, Scotiabank reiterated an “outperform” rating on shares of Shell in a report on Friday, July 11th. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, Shell currently has a consensus rating of “Moderate Buy” and a consensus target price of $78.64.

Shell Stock Down 1.0%

NYSE:SHEL opened at $71.94 on Friday. Shell PLC Unsponsored ADR has a fifty-two week low of $58.54 and a fifty-two week high of $74.18. The stock has a market capitalization of $212.67 billion, a P/E ratio of 16.20, a P/E/G ratio of 1.91 and a beta of 0.44. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.07 and a current ratio of 1.32. The company’s 50-day simple moving average is $71.46 and its 200-day simple moving average is $68.41.

Shell (NYSE:SHEL) last released its quarterly earnings results on Thursday, July 31st. The energy company reported $1.42 earnings per share 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 analysts’ expectations of $69.31 billion. On average, equities analysts anticipate that Shell PLC Unsponsored ADR will post 7.67 earnings per share for the current fiscal year.

Shell Announces Dividend

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

Shell announced that its board has approved a share repurchase program on Friday, May 2nd that authorizes the company to repurchase $3.50 billion in shares. This repurchase authorization authorizes the energy company to repurchase up to 1.8% of its stock through open market purchases. Stock repurchase programs are generally a sign 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.