Entropy Technologies LP Acquires 28,333 Shares of Shell PLC Unsponsored ADR (NYSE:SHEL)

Key Points

• Entropy Technologies LP increased its Shell PLC holdings by 173.5%, acquiring an additional 28,333 shares, bringing its total to 44,661 shares valued at approximately $3.27 million.
• Other institutional investors, including Voloridge Investment Management and Deutsche Bank AG, also significantly boosted their stakes in Shell, indicating strong institutional interest.
• Shell recently announced a quarterly dividend of $0.716 and disclosed plans for a $3.50 billion stock buyback program, reflecting confidence in its stock valuation.

Entropy Technologies LP increased its stake in Shell PLC Unsponsored ADR (NYSE:SHEL - Free Report) by 173.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 44,661 shares of the energy company's stock after buying an additional 28,333 shares during the period. Entropy Technologies LP's holdings in Shell were worth $3,273,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Brighton Jones LLC increased its holdings in Shell by 51.7% in the fourth quarter. Brighton Jones LLC now owns 7,463 shares of the energy company's stock worth $468,000 after buying an additional 2,545 shares during the last quarter. Barclays PLC raised its stake in Shell by 136.2% during the fourth quarter. Barclays PLC now owns 7,824 shares of the energy company's stock worth $490,000 after acquiring an additional 4,512 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Shell by 4.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 19,323 shares of the energy company's stock valued at $1,401,000 after buying an additional 815 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Shell by 2.7% in the first quarter. PNC Financial Services Group Inc. now owns 908,572 shares of the energy company's stock valued at $66,580,000 after buying an additional 23,680 shares in the last quarter. Finally, Merit Financial Group LLC boosted its holdings in Shell by 100.9% in the first quarter. Merit Financial Group LLC now owns 11,534 shares of the energy company's stock valued at $845,000 after acquiring an additional 5,794 shares during the last quarter. Institutional investors own 28.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on SHEL shares. Scotiabank reiterated an "outperform" rating on shares of Shell in a report on Friday, July 11th. Santander downgraded Shell to a "neutral" rating in a research note on Friday, July 11th. HSBC reissued a "hold" rating and set a $78.30 price target (down previously from $78.90) on shares of Shell in a report on Monday, August 4th. Piper Sandler increased their price target on Shell from $83.00 to $84.00 and gave the company an "overweight" rating in a research note on Tuesday, July 15th. Finally, Wells Fargo & Company decreased their target price on Shell from $80.00 to $79.00 and set an "overweight" rating for the company in a research note on Thursday, June 26th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Shell presently has a consensus rating of "Moderate Buy" and a consensus price target of $78.64.

Shell Stock Performance

NYSE SHEL traded down $0.24 during trading on Monday, reaching $71.41. The company's stock had a trading volume of 2,210,038 shares, compared to its average volume of 4,216,562. Shell PLC Unsponsored ADR has a twelve month low of $58.54 and a twelve month high of $74.18. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.07 and a current ratio of 1.32. The business's fifty day moving average price is $71.09 and its 200-day moving average price is $68.22. The firm has a market cap of $211.09 billion, a price-to-earnings ratio of 16.08, a P/E/G ratio of 1.91 and a beta of 0.44.

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

Shell declared that its board has authorized a stock repurchase program on Friday, May 2nd that permits the company to repurchase $3.50 billion in outstanding shares. This repurchase authorization permits the energy company to purchase up to 1.8% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's board of directors believes its stock is undervalued.

Shell Announces Dividend

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 given a $0.716 dividend. The ex-dividend date is Friday, August 15th. This represents a $2.86 annualized dividend and a yield of 4.0%. Shell's dividend payout ratio (DPR) is currently 64.41%.

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.