Cetera Investment Advisers Sells 8,029 Shares of Shell PLC Unsponsored ADR (NYSE:SHEL)

Cetera Investment Advisers decreased its holdings in Shell PLC Unsponsored ADR (NYSE:SHEL) by 4.3% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 179,160 shares of the energy company’s stock after selling 8,029 shares during the period. Cetera Investment Advisers’ holdings in Shell were worth $13,129,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. FMR LLC increased its position in shares of Shell by 32.3% during the fourth quarter. FMR LLC now owns 86,417,177 shares of the energy company’s stock worth $5,414,036,000 after purchasing an additional 21,118,234 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Shell by 3.1% during the fourth quarter. Wellington Management Group LLP now owns 7,982,817 shares of the energy company’s stock valued at $500,123,000 after buying an additional 238,705 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of Shell by 0.8% during the fourth quarter. Franklin Resources Inc. now owns 6,023,173 shares of the energy company’s stock valued at $377,352,000 after buying an additional 50,228 shares during the last quarter. Pzena Investment Management LLC grew its holdings in shares of Shell by 0.4% during the first quarter. Pzena Investment Management LLC now owns 3,592,218 shares of the energy company’s stock valued at $263,238,000 after buying an additional 15,043 shares during the last quarter. Finally, Voloridge Investment Management LLC grew its holdings in shares of Shell by 170.3% during the fourth quarter. Voloridge Investment Management LLC now owns 3,463,372 shares of the energy company’s stock valued at $216,980,000 after buying an additional 2,182,253 shares during the last quarter. Institutional investors own 28.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. TD Securities reissued a “buy” rating on shares of Shell in a report on Friday, April 4th. Scotiabank reaffirmed an “outperform” rating on shares of Shell in a report on Friday, July 11th. Wells Fargo & Company lowered their price target on shares of Shell from $80.00 to $79.00 and set an “overweight” rating on the stock in a report on Thursday, June 26th. Piper Sandler upped their price target on shares of Shell from $83.00 to $84.00 and gave the company an “overweight” rating in a report on Tuesday, July 15th. Finally, Sanford C. Bernstein lowered shares of Shell from an “outperform” rating to a “market perform” rating in a research note on Monday, June 16th. Three investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $78.69.

Shell Stock Performance

Shell stock opened at $73.14 on Wednesday. The firm has a 50 day simple moving average of $70.10 and a 200-day simple moving average of $67.85. Shell PLC Unsponsored ADR has a 1-year low of $58.54 and a 1-year high of $74.46. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.32 and a quick ratio of 1.08. The stock has a market cap of $216.21 billion, a price-to-earnings ratio of 16.85, a price-to-earnings-growth ratio of 2.09 and a beta of 0.40.

Shell (NYSE:SHEL) last posted its quarterly earnings results on Friday, May 2nd. The energy company reported $1.84 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.30. Shell had a net margin of 4.75% and a return on equity of 11.71%. The business had revenue of $69.23 billion during the quarter, compared to analysts’ expectations of $79.18 billion. During the same quarter in the prior year, the company posted $2.40 EPS. On average, analysts expect 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. Investors of record on Friday, May 16th were given a dividend of $0.716 per share. The ex-dividend date of this dividend was Friday, May 16th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 3.92%. Shell’s payout ratio is currently 65.90%.

Shell declared that its board has approved a stock repurchase plan on Friday, May 2nd that allows the company to repurchase $3.50 billion in outstanding shares. This repurchase authorization allows the energy company to buy up to 1.8% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors 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.