Brooklyn Investment Group Grows Stock Holdings in Shell PLC Unsponsored ADR $SHEL

Key Points

• Brooklyn Investment Group significantly increased its holdings in Shell PLC by 655% in the first quarter, acquiring a total of 17,153 shares valued at approximately $1.26 million.
• Shell recently reported an EPS of $1.42, surpassing analyst expectations, and had a revenue of $66.44 billion for the quarter, below the projected $69.31 billion.
• The company announced a $3.50 billion share buyback plan, indicating management's belief that the stock is undervalued, and declared a quarterly dividend of $0.716 per share with a yield of 4.0%.

Brooklyn Investment Group increased its position in shares of Shell PLC Unsponsored ADR (NYSE:SHEL - Free Report) by 655.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 17,153 shares of the energy company's stock after buying an additional 14,881 shares during the quarter. Brooklyn Investment Group's holdings in Shell were worth $1,257,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Corient IA LLC purchased a new stake in shares of Shell during the 1st quarter valued at approximately $366,000. Raymond James Financial Inc. raised its position in Shell by 102.6% in the first quarter. Raymond James Financial Inc. now owns 2,965,812 shares of the energy company's stock valued at $217,335,000 after purchasing an additional 1,501,866 shares during the period. Cresset Asset Management LLC raised its position in Shell by 66.4% in the first quarter. Cresset Asset Management LLC now owns 61,330 shares of the energy company's stock valued at $4,494,000 after purchasing an additional 24,472 shares during the period. Alliance Wealth Advisors LLC UT raised its position in Shell by 48.0% in the first quarter. Alliance Wealth Advisors LLC UT now owns 8,187 shares of the energy company's stock valued at $600,000 after purchasing an additional 2,657 shares during the period. Finally, American Century Companies Inc. raised its position in Shell by 6.1% in the first quarter. American Century Companies Inc. now owns 951,625 shares of the energy company's stock valued at $69,735,000 after purchasing an additional 54,471 shares during the period. Hedge funds and other institutional investors own 28.60% of the company's stock.

Shell Stock Performance

Shares of SHEL stock opened at $71.94 on Monday. Shell PLC Unsponsored ADR has a 12 month low of $58.54 and a 12 month high of $74.18. The company has a market cap of $211.37 billion, a P/E ratio of 16.20, a PEG ratio of 1.91 and a beta of 0.44. 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 fifty day moving average price of $71.46 and a 200 day moving average price of $68.42.

Shell (NYSE:SHEL - Get Free Report) last announced its earnings results on Thursday, July 31st. The energy company reported $1.42 EPS for the quarter, beating analysts' consensus estimates of $1.13 by $0.29. The business had revenue of $66.44 billion during the quarter, compared to analysts' expectations of $69.31 billion. Shell had a net margin of 4.93% and a return on equity of 10.67%. Sell-side analysts predict that Shell PLC Unsponsored ADR will post 7.67 earnings per share for the current fiscal year.

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

Shell Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Wells Fargo & Company cut their target price on Shell from $80.00 to $79.00 and set an "overweight" rating on the stock in a research report on Thursday, June 26th. Santander downgraded shares of Shell to a "neutral" rating in a research note on Friday, July 11th. Hsbc Global Res downgraded shares of Shell from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 4th. Piper Sandler boosted their price target on shares of Shell from $83.00 to $84.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 15th. Finally, HSBC restated a "hold" rating and issued a $78.30 price target (down previously from $78.90) on shares of Shell in a research note on Monday, August 4th. Five 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 company has an average rating of "Moderate Buy" and an average target price of $78.64.

Shell 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.

Want to see what other hedge funds are holding SHEL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Shell PLC Unsponsored ADR (NYSE:SHEL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.