Caitong International Asset Management Co. Ltd Buys Shares of 3,841 Shell PLC Unsponsored ADR (NYSE:SHEL)

Key Points

• Caitong International Asset Management Co. Ltd has acquired 3,841 shares of Shell PLC Unsponsored ADR, valued at approximately $281,000.
• Shell recently reported an EPS of $1.42, exceeding analysts' expectations of $1.13, and announced a $3.50 billion share repurchase plan.
• The company's quarterly dividend of $0.716 per share will yield 4.0%, with a payout ratio currently at 64.41%.

Caitong International Asset Management Co. Ltd purchased a new position in shares of Shell PLC Unsponsored ADR (NYSE:SHEL - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,841 shares of the energy company's stock, valued at approximately $281,000.

Several other hedge funds also recently made changes to their positions in the company. Klingman & Associates LLC increased its position in shares of Shell by 5.4% during the 1st quarter. Klingman & Associates LLC now owns 3,607 shares of the energy company's stock valued at $264,000 after purchasing an additional 186 shares during the last quarter. Russell Investments Group Ltd. lifted its position in Shell by 14.2% in the first quarter. Russell Investments Group Ltd. now owns 764,519 shares of the energy company's stock worth $56,024,000 after buying an additional 95,044 shares during the last quarter. Cypress Capital Group bought a new stake in shares of Shell during the first quarter worth $213,000. Meridian Wealth Management LLC lifted its position in shares of Shell by 6.6% during the first quarter. Meridian Wealth Management LLC now owns 10,995 shares of the energy company's stock worth $806,000 after purchasing an additional 682 shares during the last quarter. Finally, Independent Advisor Alliance increased its stake in shares of Shell by 5.6% during the first quarter. Independent Advisor Alliance now owns 18,562 shares of the energy company's stock valued at $1,360,000 after buying an additional 992 shares during the period. 28.60% of the stock is owned by hedge funds and other institutional investors.

Shell Trading Up 1.1%

SHEL opened at $72.21 on Wednesday. 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 company has a fifty day moving average price of $71.17 and a two-hundred day moving average price of $68.25. The company has a market cap of $213.47 billion, a P/E ratio of 16.26, a price-to-earnings-growth ratio of 1.90 and a beta of 0.44. Shell PLC Unsponsored ADR has a 1-year low of $58.54 and a 1-year high of $74.18.

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

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

Shell Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on SHEL. HSBC restated a "hold" rating and set a $78.30 price target (down previously from $78.90) on shares of Shell in a research note on Monday, August 4th. Wells Fargo & Company lowered their price target on Shell from $80.00 to $79.00 and set an "overweight" rating for the company in a report on Thursday, June 26th. Piper Sandler increased their target price on Shell from $83.00 to $84.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 15th. Sanford C. Bernstein lowered Shell from an "outperform" rating to a "market perform" rating in a research report on Monday, June 16th. Finally, Santander downgraded Shell to a "neutral" rating in a research note on Friday, July 11th. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $78.64.

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.

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