Everett Harris & Co. CA Raises Position in Shell PLC Unsponsored ADR (NYSE:SHEL)

Key Points

• Everett Harris & Co. CA increased its stake in Shell PLC Unsponsored ADR by 14.4%, acquiring an additional 44,578 shares and bringing its total holdings to 353,847 shares worth approximately $25.93 million.
• Shell recently announced a $3.50 billion share buyback plan, which allows the company to repurchase up to 1.8% of its stock, indicating management's belief that the stock is undervalued.
• The company reported a quarterly EPS of $1.42, surpassing estimates, while total revenue for the quarter reached $66.44 billion, falling short of analysts’ expectations.

Everett Harris & Co. CA increased its position in Shell PLC Unsponsored ADR (NYSE:SHEL - Free Report) by 14.4% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 353,847 shares of the energy company's stock after acquiring an additional 44,578 shares during the quarter. Everett Harris & Co. CA's holdings in Shell were worth $25,930,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Kennebec Savings Bank bought a new stake in Shell during the 1st quarter valued at $25,000. Avalon Trust Co bought a new stake in Shell during the 1st quarter valued at $25,000. Brown Lisle Cummings Inc. increased its holdings in shares of Shell by 103.4% in the first quarter. Brown Lisle Cummings Inc. now owns 356 shares of the energy company's stock worth $26,000 after purchasing an additional 181 shares during the period. Transce3nd LLC purchased a new stake in shares of Shell in the fourth quarter worth $34,000. Finally, Cheviot Value Management LLC purchased a new stake in shares of Shell in the first quarter worth $37,000. Hedge funds and other institutional investors own 28.60% of the company's stock.

Shell Trading Up 1.4%

SHEL stock traded up $1.01 during midday trading on Tuesday, hitting $72.42. The company had a trading volume of 1,689,575 shares, compared to its average volume of 4,736,386. The company has a current ratio of 1.32, a quick ratio of 1.07 and a debt-to-equity ratio of 0.36. Shell PLC Unsponsored ADR has a 52 week low of $58.54 and a 52 week high of $74.18. The stock's 50 day moving average price is $71.09 and its 200 day moving average price is $68.22. The stock has a market cap of $214.10 billion, a price-to-earnings ratio of 16.30, a PEG ratio of 1.91 and a beta of 0.44.

Shell (NYSE:SHEL - Get Free Report) last posted its earnings results on Thursday, July 31st. The energy company reported $1.42 earnings per share for the quarter, topping analysts' consensus estimates of $1.13 by $0.29. The company had revenue of $66.44 billion during 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%. As a group, equities research analysts expect that Shell PLC Unsponsored ADR will post 7.67 earnings per share for the current fiscal year.

Shell Announces Dividend

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

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. HSBC reiterated a "hold" rating and issued a $78.30 price objective (down previously from $78.90) on shares of Shell in a research report on Monday, August 4th. Santander lowered Shell to a "neutral" rating in a report on Friday, July 11th. Piper Sandler boosted their price objective on Shell from $83.00 to $84.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. Wells Fargo & Company reduced their target price on Shell from $80.00 to $79.00 and set an "overweight" rating on the stock in a research note on Thursday, June 26th. Finally, Sanford C. Bernstein cut Shell from an "outperform" rating to a "market perform" rating in a research note on Monday, June 16th. Five equities 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.com, Shell presently has a consensus rating of "Moderate Buy" and an average price target of $78.64.

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.