Accretive Wealth Partners LLC Takes $293,000 Position in Shell PLC Unsponsored ADR (NYSE:SHEL)

Key Points

• Accretive Wealth Partners LLC acquired 4,000 shares of Shell PLC Unsponsored ADR valued at approximately $293,000 during the first quarter, reflecting growing institutional interest in the company.
• Shell reported an EPS of $1.84 for the latest quarter, exceeding analysts' expectations, though its revenue of $69.23 billion fell short of the projected $79.18 billion.
• The company has initiated a stock buyback program, authorizing up to $3.50 billion in repurchases, signaling confidence in its undervalued stock.

Accretive Wealth Partners LLC purchased a new position in shares of Shell PLC Unsponsored ADR (NYSE:SHEL - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 4,000 shares of the energy company's stock, valued at approximately $293,000.

A number of other hedge funds have also made changes to their positions in the business. First Wilshire Securities Management Inc. grew its holdings in Shell by 1.6% during the 4th quarter. First Wilshire Securities Management Inc. now owns 9,518 shares of the energy company's stock valued at $596,000 after purchasing an additional 153 shares in the last quarter. Titleist Asset Management LLC lifted its position in Shell by 3.1% in the 4th quarter. Titleist Asset Management LLC now owns 5,526 shares of the energy company's stock valued at $346,000 after purchasing an additional 164 shares during the last quarter. Warther Private Wealth LLC raised its position in shares of Shell by 5.0% during the 1st quarter. Warther Private Wealth LLC now owns 3,433 shares of the energy company's stock worth $252,000 after buying an additional 165 shares in the last quarter. Harbour Capital Advisors LLC raised its position in shares of Shell by 2.4% during the 1st quarter. Harbour Capital Advisors LLC now owns 7,235 shares of the energy company's stock worth $505,000 after buying an additional 170 shares in the last quarter. Finally, Golden State Equity Partners grew its stake in shares of Shell by 5.1% in the 1st quarter. Golden State Equity Partners now owns 3,562 shares of the energy company's stock worth $261,000 after purchasing an additional 173 shares during the last quarter. Hedge funds and other institutional investors own 28.60% of the company's stock.

Shell Stock Down 1.5%

SHEL stock traded down $1.09 during mid-day trading on Wednesday, hitting $72.02. 2,635,463 shares of the company were exchanged, compared to its average volume of 4,768,843. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.08 and a current ratio of 1.32. The firm has a market cap of $212.90 billion, a P/E ratio of 16.59, a P/E/G ratio of 2.09 and a beta of 0.40. The firm's 50 day simple moving average is $70.10 and its 200 day simple moving average is $67.85. Shell PLC Unsponsored ADR has a 1-year low of $58.54 and a 1-year high of $74.46.

Shell (NYSE:SHEL - Get Free Report) last announced 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. The business had revenue of $69.23 billion for the quarter, compared to analyst estimates of $79.18 billion. Shell had a net margin of 4.75% and a return on equity of 11.71%. During the same quarter in the previous year, the firm posted $2.40 earnings per share. On average, sell-side analysts predict that Shell PLC Unsponsored ADR will post 7.67 EPS for the current fiscal year.

Shell announced that its Board of Directors has initiated a share buyback plan on Friday, May 2nd that allows the company to repurchase $3.50 billion in shares. This repurchase authorization allows the energy company to reacquire up to 1.8% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's board believes its stock is undervalued.

Shell Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 23rd. Investors of record on Friday, May 16th were issued a dividend of $0.716 per share. The ex-dividend date was Friday, May 16th. This represents a $2.86 dividend on an annualized basis and a yield of 3.98%. Shell's payout ratio is 65.90%.

Wall Street Analysts Forecast Growth

SHEL has been the topic of several analyst reports. Sanford C. Bernstein downgraded shares of Shell from an "outperform" rating to a "market perform" rating in a research report on Monday, June 16th. Wells Fargo & Company reduced their price target on shares of Shell from $80.00 to $79.00 and set an "overweight" rating for the company in a report on Thursday, June 26th. Scotiabank restated an "outperform" rating on shares of Shell in a research note on Friday, July 11th. Piper Sandler increased their target price on shares of Shell from $83.00 to $84.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 15th. Finally, TD Securities reaffirmed a "buy" rating on shares of Shell in a research note on Friday, April 4th. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Shell currently has a consensus rating of "Moderate Buy" and an average target price of $78.69.

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.