Wesbanco Bank Inc. Sells 614 Shares of Shell plc (NYSE:SHEL)

Wesbanco Bank Inc. cut its holdings in Shell plc (NYSE:SHEL) by 3.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 20,160 shares of the energy company’s stock after selling 614 shares during the period. Wesbanco Bank Inc.’s holdings in Shell were worth $1,477,000 as of its most recent SEC filing.

Other institutional investors 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. Golden State Wealth Management LLC purchased a new stake in shares of Shell in the fourth quarter worth $69,000. Kingsview Wealth Management LLC increased its stake in shares of Shell by 1.4% in the fourth quarter. Kingsview Wealth Management LLC now owns 16,325 shares of the energy company’s stock worth $1,023,000 after purchasing an additional 220 shares in the last quarter. Entropy Technologies LP purchased a new stake in shares of Shell in the fourth quarter worth $1,023,000. Finally, Quotient Wealth Partners LLC increased its stake in shares of Shell by 164.1% in the fourth quarter. Quotient Wealth Partners LLC now owns 9,902 shares of the energy company’s stock worth $620,000 after purchasing an additional 6,152 shares in the last quarter. 28.60% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

SHEL has been the subject of a number of analyst reports. 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. Hsbc Global Res raised shares of Shell to a “strong-buy” rating in a research note on Tuesday, May 13th. Barclays reaffirmed an “overweight” rating on shares of Shell in a research note on Wednesday, March 26th. TD Securities reaffirmed a “buy” rating on shares of Shell in a research note on Friday, April 4th. Finally, Wells Fargo & Company cut their target price on shares of Shell from $83.00 to $80.00 and set an “overweight” rating for the company in a research note on Monday, May 5th. One investment analyst has rated the stock with a hold rating, ten have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $78.26.

Shell Stock Performance

Shares of NYSE:SHEL opened at $68.26 on Tuesday. Shell plc has a 52 week low of $58.55 and a 52 week high of $74.46. The stock has a market capitalization of $204.03 billion, a P/E ratio of 13.60, a PEG ratio of 0.98 and a beta of 0.39. The firm has a fifty day simple moving average of $65.37 and a two-hundred day simple moving average of $65.89. The company has a quick ratio of 1.10, a current ratio of 1.35 and a debt-to-equity ratio of 0.36.

Shell (NYSE:SHEL) last issued its quarterly earnings data on Friday, May 2nd. The energy company reported $1.84 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.30. Shell had a net margin of 5.57% and a return on equity of 12.75%. The business had revenue of $69.23 billion during the quarter, compared to analysts’ expectations of $79.18 billion. During the same period last year, the company posted $2.40 EPS. On average, analysts expect that Shell plc will post 7.67 earnings per share for the current fiscal year.

Shell Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 23rd. Stockholders of record on Friday, May 16th will be issued a $0.716 dividend. The ex-dividend date is Friday, May 16th. This represents a $2.86 annualized dividend and a dividend yield of 4.20%. Shell’s dividend payout ratio (DPR) is presently 65.90%.

Shell announced that its board has initiated a stock buyback program on Friday, May 2nd that permits the company to repurchase $3.50 billion in shares. This repurchase authorization permits the energy company to buy up to 1.8% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

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.