Corient IA LLC Acquires New Position in Shell PLC Unsponsored ADR $SHEL

Key Points

• Corient IA LLC has acquired a new position in Shell PLC Unsponsored ADR, purchasing 5,000 shares valued at approximately $366,000 during the 1st quarter of the year.
• Shell recently reported $1.42 EPS for the quarter, exceeding analysts' estimates of $1.13, along with a revenue of $66.44 billion despite a consensus estimate of $69.31 billion.
• The company has initiated a $3.50 billion stock buyback program, indicating confidence from its Board that the stock is currently undervalued.

Corient IA LLC bought a new stake in Shell PLC Unsponsored ADR (NYSE:SHEL - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 5,000 shares of the energy company's stock, valued at approximately $366,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Avalon Trust Co acquired a new position in Shell in the 1st quarter valued at about $25,000. Kennebec Savings Bank acquired a new position in Shell in the 1st quarter valued at about $25,000. Brown Lisle Cummings Inc. boosted its holdings in Shell by 103.4% in the 1st quarter. Brown Lisle Cummings Inc. now owns 356 shares of the energy company's stock valued at $26,000 after purchasing an additional 181 shares during the last quarter. Cheviot Value Management LLC acquired a new position in Shell in the 1st quarter valued at about $37,000. Finally, Greykasell Wealth Strategies Inc. acquired a new position in shares of Shell in the 1st quarter worth approximately $38,000. 28.60% of the stock is currently owned by institutional investors and hedge funds.

Shell Trading Down 1.0%

NYSE SHEL opened at $71.94 on Monday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.32 and a quick ratio of 1.07. The firm's fifty day moving average price is $71.46 and its 200 day moving average price is $68.42. The company has a market capitalization of $211.37 billion, a price-to-earnings ratio of 16.20, a price-to-earnings-growth ratio of 1.91 and a beta of 0.44. Shell PLC Unsponsored ADR has a 12 month low of $58.54 and a 12 month high of $74.18.

Shell (NYSE:SHEL - Get Free Report) last posted 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 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%. On average, sell-side analysts expect 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 stock buyback program on Friday, May 2nd that allows the company to buyback $3.50 billion in outstanding shares. This buyback authorization allows the energy company to repurchase up to 1.8% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board believes its stock is undervalued.

Shell Dividend Announcement

The firm also recently disclosed 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 yield of 4.0%. The ex-dividend date of this dividend is Friday, August 15th. Shell's dividend payout ratio (DPR) is presently 64.41%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Hsbc Global Res lowered shares of Shell from a "strong-buy" rating to a "hold" rating in a report on Monday, August 4th. Wells Fargo & Company decreased their price objective on shares of Shell from $80.00 to $79.00 and set an "overweight" rating on the stock in a report on Thursday, June 26th. Piper Sandler upped their price objective on shares of Shell from $83.00 to $84.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. HSBC restated a "hold" rating and issued a $78.30 price objective (down from $78.90) on shares of Shell in a report on Monday, August 4th. Finally, Santander lowered shares of Shell to a "neutral" rating in a report on Friday, July 11th. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target 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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