Causeway Capital Management LLC Reduces Holdings in Shell PLC Unsponsored ADR $SHEL

Causeway Capital Management LLC trimmed its stake in Shell PLC Unsponsored ADR (NYSE:SHEL) by 70.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,944 shares of the energy company’s stock after selling 7,188 shares during the period. Causeway Capital Management LLC’s holdings in Shell were worth $216,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Dimensional Fund Advisors LP lifted its position in shares of Shell by 2.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 23,272,913 shares of the energy company’s stock worth $1,705,430,000 after purchasing an additional 451,233 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Shell by 5.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,253,238 shares of the energy company’s stock worth $531,519,000 after purchasing an additional 352,569 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of Shell by 21.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 6,571,809 shares of the energy company’s stock worth $481,582,000 after purchasing an additional 1,150,198 shares during the period. Pzena Investment Management LLC lifted its position in shares of Shell by 0.4% in the 1st quarter. Pzena Investment Management LLC now owns 3,592,218 shares of the energy company’s stock worth $263,238,000 after purchasing an additional 15,043 shares during the period. Finally, Voloridge Investment Management LLC lifted its position in shares of Shell by 170.3% in the 4th quarter. Voloridge Investment Management LLC now owns 3,463,372 shares of the energy company’s stock worth $216,980,000 after purchasing an additional 2,182,253 shares during the period. 28.60% of the stock is owned by hedge funds and other institutional investors.

Shell Stock Performance

Shares of NYSE SHEL opened at $73.80 on Tuesday. The firm’s 50-day moving average price is $71.66 and its 200-day moving average price is $68.69. The company has a quick ratio of 1.07, a current ratio of 1.32 and a debt-to-equity ratio of 0.36. The company has a market cap of $216.84 billion, a PE ratio of 16.62, a PEG ratio of 1.94 and a beta of 0.44. Shell PLC Unsponsored ADR has a 52-week low of $58.54 and a 52-week high of $74.18.

Shell (NYSE:SHEL) last announced its quarterly earnings results on Thursday, July 31st. The energy company reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.29. The firm had revenue of $66.44 billion for the quarter, compared to the consensus estimate of $69.31 billion. Shell had a net margin of 4.93% and a return on equity of 10.67%. As a group, analysts anticipate that Shell PLC Unsponsored ADR will post 7.67 EPS for the current year.

Shell Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 22nd. Stockholders of record on Friday, August 15th will be issued a dividend of $0.716 per share. This represents a $2.86 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend is Friday, August 15th. Shell’s dividend payout ratio (DPR) is presently 64.41%.

Shell announced that its Board of Directors has initiated a share repurchase plan 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 plans are generally an indication that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on SHEL shares. Scotiabank reiterated an “outperform” rating on shares of Shell in a research note on Friday, July 11th. Hsbc Global Res lowered shares of Shell from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 4th. Melius Research started coverage on shares of Shell in a research note on Wednesday, August 20th. They issued a “hold” rating and a $70.00 price target for the company. Santander lowered shares of Shell to a “neutral” rating in a research note on Friday, July 11th. Finally, Melius initiated coverage on shares of Shell in a research note on Wednesday, August 20th. They issued a “hold” rating and a $70.00 price target for the company. Ten research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, Shell presently has an average rating of “Moderate Buy” and a consensus target price of $76.71.

Shell Company 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.