HBK Sorce Advisory LLC Buys 1,789 Shares of Shell PLC Unsponsored ADR (NYSE:SHEL)

HBK Sorce Advisory LLC boosted its position in shares of Shell PLC Unsponsored ADR (NYSE:SHEL) by 11.8% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,914 shares of the energy company’s stock after purchasing an additional 1,789 shares during the quarter. HBK Sorce Advisory LLC’s holdings in Shell were worth $1,239,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. FMR LLC boosted its stake 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 valued at $5,414,036,000 after purchasing an additional 21,118,234 shares in the last quarter. Voloridge Investment Management LLC lifted its holdings in Shell by 170.3% during the fourth quarter. Voloridge Investment Management LLC now owns 3,463,372 shares of the energy company’s stock worth $216,980,000 after buying an additional 2,182,253 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Shell in the 4th quarter valued at $91,716,000. Freestone Grove Partners LP bought a new position in shares of Shell in the 4th quarter worth $83,204,000. Finally, Merewether Investment Management LP lifted its stake in shares of Shell by 46.5% during the 4th quarter. Merewether Investment Management LP now owns 2,262,997 shares of the energy company’s stock worth $141,777,000 after purchasing an additional 718,233 shares during the last quarter. 28.60% of the stock is owned by institutional investors.

Shell Stock Performance

Shares of SHEL stock opened at $69.45 on Thursday. The business has a fifty day moving average of $67.39 and a 200 day moving average of $66.43. Shell PLC Unsponsored ADR has a 1 year low of $58.55 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 firm has a market capitalization of $206.49 billion, a price-to-earnings ratio of 16.00, a price-to-earnings-growth ratio of 1.83 and a beta of 0.39.

Shell (NYSE:SHEL) last announced its quarterly earnings data on Friday, May 2nd. The energy company reported $1.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.30. Shell had a return on equity of 11.71% and a net margin of 4.75%. The firm had revenue of $69.23 billion during the quarter, compared to analysts’ expectations of $79.18 billion. During the same period last year, the business posted $2.40 earnings per share. As a group, research analysts expect that Shell PLC Unsponsored ADR will post 7.67 earnings per share for the current year.

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

Shell Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 23rd. Stockholders of record on Friday, May 16th were issued a $0.716 dividend. This represents a $2.86 annualized dividend and a dividend yield of 4.12%. The ex-dividend date of this dividend was Friday, May 16th. Shell’s dividend payout ratio (DPR) is currently 65.90%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on SHEL. TD Securities reiterated a “buy” rating on shares of Shell in a report on Friday, April 4th. TD Cowen reduced their price objective on shares of Shell from $82.00 to $76.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. Piper Sandler raised their target price on shares of Shell from $72.00 to $80.00 and gave the company an “overweight” rating in a research note on Tuesday, May 13th. Hsbc Global Res raised Shell to a “strong-buy” rating in a research report on Tuesday, May 13th. Finally, Wells Fargo & Company lowered their price objective on Shell from $83.00 to $80.00 and set an “overweight” rating for the company in a research report on Monday, May 5th. Two 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $78.26.

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.