55,447 Shares in Shell PLC Unsponsored ADR (NYSE:SHEL) Acquired by ABC Arbitrage SA

Key Points

• ABC Arbitrage SA purchased 55,447 shares of Shell PLC Unsponsored ADR, valued at approximately $4,063,000, marking a significant new investment in the energy company.
• Shell recently reported earnings of $1.42 per share, exceeding analysts' expectations, and announced a $3.50 billion share buyback program indicating confidence in its stock value.
• The company declared a quarterly dividend of $0.716 per share, reflecting an annualized dividend yield of 4.0% with a payout ratio of 64.41%.

ABC Arbitrage SA purchased a new position in Shell PLC Unsponsored ADR (NYSE:SHEL - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 55,447 shares of the energy company's stock, valued at approximately $4,063,000.

A number of other large investors also recently added to or reduced their stakes in the stock. Pzena Investment Management LLC boosted 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 acquiring an additional 15,043 shares during the last quarter. Voloridge Investment Management LLC boosted its stake in Shell by 170.3% during 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 last quarter. Northern Trust Corp grew its holdings in shares of Shell by 20.1% during 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 in the last quarter. Empyrean Capital Partners LP raised its position 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 valued at $144,095,000 after buying an additional 200,000 shares during the last quarter. Finally, Merewether Investment Management LP boosted its position in Shell by 46.5% during the fourth quarter. Merewether Investment Management LP now owns 2,262,997 shares of the energy company's stock worth $141,777,000 after acquiring an additional 718,233 shares during the last quarter. 28.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have commented on SHEL. TD Cowen cut their price objective on shares of Shell from $82.00 to $76.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Santander cut Shell to a "neutral" rating in a report on Friday, July 11th. Hsbc Global Res lowered Shell from a "strong-buy" rating to a "hold" rating in a research note on Monday. Scotiabank reaffirmed an "outperform" rating on shares of Shell in a research note on Friday, July 11th. Finally, Piper Sandler boosted their price target on shares of Shell from $83.00 to $84.00 and gave the company an "overweight" rating in a research report on Tuesday, July 15th. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the 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.

Shell Trading Down 0.2%

SHEL traded down $0.15 on Wednesday, hitting $72.25. The company had a trading volume of 4,584,312 shares, compared to its average volume of 4,185,663. The company's fifty day moving average price is $70.80 and its 200 day moving average price is $68.09. Shell PLC Unsponsored ADR has a 1 year low of $58.54 and a 1 year high of $74.18. The company has a current ratio of 1.32, a quick ratio of 1.07 and a debt-to-equity ratio of 0.36. The firm has a market cap of $213.57 billion, a P/E ratio of 16.27, a PEG ratio of 1.93 and a beta of 0.44.

Shell (NYSE:SHEL - Get Free Report) last released 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 business 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, equities analysts expect that Shell PLC Unsponsored ADR will post 7.67 earnings per share for the current year.

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

Shell Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 22nd. Investors of record on Friday, August 15th will be issued a $0.716 dividend. This represents a $2.86 annualized dividend and a dividend yield of 4.0%. The ex-dividend date is Friday, August 15th. Shell's payout ratio is currently 64.41%.

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.