Nuveen LLC Buys Shares of 2,461,332 Shell PLC Unsponsored ADR (NYSE:SHEL)

Nuveen LLC bought a new stake in Shell PLC Unsponsored ADR (NYSE:SHEL) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,461,332 shares of the energy company’s stock, valued at approximately $180,366,000. Nuveen LLC owned about 0.08% of Shell as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. lifted its stake in Shell by 21.2% in the first quarter. Goldman Sachs Group Inc. now owns 6,571,809 shares of the energy company’s stock valued at $481,582,000 after acquiring an additional 1,150,198 shares during the last quarter. Pzena Investment Management LLC lifted its stake in shares of Shell by 0.4% in the first quarter. Pzena Investment Management LLC now owns 3,592,218 shares of the energy company’s stock worth $263,238,000 after buying an additional 15,043 shares during the last quarter. Voloridge Investment Management LLC lifted its stake in shares of Shell by 170.3% in 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 last quarter. Northern Trust Corp lifted its stake in shares of Shell by 20.1% in the fourth quarter. Northern Trust Corp now owns 3,101,330 shares of the energy company’s stock worth $194,298,000 after buying an additional 519,105 shares during the last quarter. Finally, Empyrean Capital Partners LP lifted its stake in shares of Shell by 9.5% in the fourth quarter. Empyrean Capital Partners LP now owns 2,300,000 shares of the energy company’s stock worth $144,095,000 after buying an additional 200,000 shares during the last quarter. 28.60% of the stock is currently owned by institutional investors and hedge funds.

Shell Trading Down 0.3%

Shares of Shell stock opened at $71.41 on Tuesday. The firm has a market capitalization of $211.09 billion, a PE ratio of 16.08, a price-to-earnings-growth ratio of 1.91 and a beta of 0.44. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.32 and a quick ratio of 1.07. The company’s fifty day moving average price is $71.09 and its two-hundred day moving average price is $68.22. Shell PLC Unsponsored ADR has a 52-week low of $58.54 and a 52-week high of $74.18.

Shell (NYSE:SHEL) last posted its earnings results on Thursday, July 31st. The energy company reported $1.42 earnings per share for the quarter, topping the consensus estimate 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 analyst estimates of $69.31 billion. On average, analysts expect that Shell PLC Unsponsored ADR will post 7.67 EPS for the current year.

Shell announced that its Board of Directors has approved a share repurchase program on Friday, May 2nd that authorizes the company to buyback $3.50 billion in outstanding shares. This buyback authorization authorizes the energy company to reacquire up to 1.8% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Shell Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 22nd. Shareholders of record on Friday, August 15th will be issued a dividend of $0.716 per share. The ex-dividend date of this dividend 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 is currently 64.41%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. 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. Piper Sandler upped their target price on shares of Shell from $83.00 to $84.00 and gave the company an “overweight” rating in a research note on Tuesday, July 15th. Hsbc Global Res cut shares of Shell from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 4th. Scotiabank reiterated an “outperform” rating on shares of Shell in a research note on Friday, July 11th. Finally, Sanford C. Bernstein cut shares of Shell from an “outperform” rating to a “market perform” rating in a research note on Monday, June 16th. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $78.64.

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.