Equity Investment Corp Acquires 5,913 Shares of Shell PLC Unsponsored ADR (NYSE:SHEL)

Equity Investment Corp raised its position in Shell PLC Unsponsored ADR (NYSE:SHEL - Free Report) by 0.6% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 1,029,352 shares of the energy company's stock after acquiring an additional 5,913 shares during the period. Equity Investment Corp's holdings in Shell were worth $75,431,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in SHEL. Kennebec Savings Bank bought a new stake in shares of Shell during the 1st quarter worth approximately $25,000. Brown Lisle Cummings Inc. raised its position in Shell by 103.4% during the first quarter. Brown Lisle Cummings Inc. now owns 356 shares of the energy company's stock worth $26,000 after acquiring an additional 181 shares in the last quarter. CoreFirst Bank & Trust bought a new position in shares of Shell in the 4th quarter valued at about $28,000. Transce3nd LLC acquired a new position in shares of Shell during the 4th quarter worth about $34,000. Finally, Millstone Evans Group LLC bought a new stake in shares of Shell in the 4th quarter valued at about $36,000. 28.60% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. TD Securities reissued a "buy" rating on shares of Shell in a research report on Friday, April 4th. Piper Sandler lifted their price objective on Shell from $83.00 to $84.00 and gave the company an "overweight" rating in a report on Tuesday. Scotiabank reissued an "outperform" rating on shares of Shell in a report on Friday, July 11th. Hsbc Global Res raised shares of Shell to a "strong-buy" rating in a research note on Tuesday, May 13th. Finally, Royal Bank Of Canada restated an "outperform" rating on shares of Shell in a research report on Wednesday, March 26th. Three research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $78.69.

Shell Trading Up 0.4%

NYSE SHEL traded up $0.26 during trading hours on Wednesday, hitting $70.66. 4,132,275 shares of the company's stock were exchanged, compared to its average volume of 4,505,232. Shell PLC Unsponsored ADR has a 1-year low of $58.55 and a 1-year high of $74.46. The company has a current ratio of 1.32, a quick ratio of 1.08 and a debt-to-equity ratio of 0.36. The stock has a 50-day simple moving average of $69.20 and a 200 day simple moving average of $67.35. The firm has a market cap of $210.08 billion, a price-to-earnings ratio of 16.28, a PEG ratio of 1.96 and a beta of 0.40.

Shell (NYSE:SHEL - Get Free Report) last released its quarterly earnings data on Friday, May 2nd. The energy company reported $1.84 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.30. The company had revenue of $69.23 billion during 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 business posted $2.40 EPS. On average, equities analysts forecast that Shell PLC Unsponsored ADR will post 7.67 EPS for the current fiscal year.

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

Shell Dividend Announcement

The business also recently disclosed 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 4.05%. Shell's dividend payout ratio (DPR) is presently 65.90%.

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.