Foresight Global Investors Inc. Purchases 58,241 Shares of Shell PLC Unsponsored ADR (NYSE:SHEL)

Key Points

• Foresight Global Investors Inc. increased its stake in Shell PLC by 52.9%, acquiring 58,241 additional shares, bringing its total to 168,435 shares valued at approximately $12.34 million, making Shell the firm's 6th largest holding.
• The company reported earnings of $1.42 per share for the last quarter, surpassing analyst expectations of $1.13, although revenue of $66.44 billion fell short of forecasts.
• Shell's board has approved a $3.50 billion share repurchase program, allowing for the buyback of up to 1.8% of its stock, signaling confidence in its undervalued status.

Foresight Global Investors Inc. boosted its stake in shares of Shell PLC Unsponsored ADR (NYSE:SHEL - Free Report) by 52.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 168,435 shares of the energy company's stock after acquiring an additional 58,241 shares during the quarter. Shell accounts for 8.7% of Foresight Global Investors Inc.'s holdings, making the stock its 6th largest position. Foresight Global Investors Inc.'s holdings in Shell were worth $12,343,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of SHEL. Brighton Jones LLC raised its position in Shell by 51.7% during the fourth quarter. Brighton Jones LLC now owns 7,463 shares of the energy company's stock valued at $468,000 after acquiring an additional 2,545 shares in the last quarter. Bank of Montreal Can increased its position in shares of Shell by 3.6% in the fourth quarter. Bank of Montreal Can now owns 707,033 shares of the energy company's stock valued at $44,296,000 after buying an additional 24,888 shares in the last quarter. Advisory Services Network LLC increased its position in shares of Shell by 6.4% in the fourth quarter. Advisory Services Network LLC now owns 33,765 shares of the energy company's stock valued at $2,115,000 after buying an additional 2,033 shares in the last quarter. Cutler Capital Management LLC increased its position in shares of Shell by 0.8% in the fourth quarter. Cutler Capital Management LLC now owns 110,826 shares of the energy company's stock valued at $6,943,000 after buying an additional 894 shares in the last quarter. Finally, LSV Asset Management purchased a new stake in shares of Shell in the fourth quarter valued at approximately $464,000. 28.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on SHEL. Sanford C. Bernstein cut Shell from an "outperform" rating to a "market perform" rating in a research report on Monday, June 16th. Scotiabank reiterated an "outperform" rating on shares of Shell in a research report on Friday, July 11th. HSBC reiterated a "hold" rating and set a $78.30 price target (down from $78.90) on shares of Shell in a research report on Monday, August 4th. Wells Fargo & Company dropped their price target on Shell from $80.00 to $79.00 and set an "overweight" rating for the company in a research report on Thursday, June 26th. Finally, Santander cut Shell to a "neutral" rating in a research report 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's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $78.64.

Shell Trading Up 0.4%

NYSE:SHEL traded up $0.27 during trading hours on Friday, hitting $71.64. The company had a trading volume of 3,839,707 shares, compared to its average volume of 4,254,761. 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 50-day moving average of $71.01 and a 200 day moving average of $68.15. The company has a market cap of $211.78 billion, a P/E ratio of 16.14, a P/E/G 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 announced its quarterly earnings results on Thursday, July 31st. The energy company reported $1.42 EPS for the quarter, beating the consensus estimate of $1.13 by $0.29. Shell had a return on equity of 10.67% and a net margin of 4.93%. The business had revenue of $66.44 billion for the quarter, compared to analyst estimates of $69.31 billion. Sell-side analysts expect that Shell PLC Unsponsored ADR will post 7.67 earnings per share for the current year.

Shell declared that its Board of Directors has approved a stock buyback plan on Friday, May 2nd that allows the company to repurchase $3.50 billion in outstanding shares. This repurchase authorization allows the energy company to buy up to 1.8% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's leadership believes its stock is undervalued.

Shell Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 22nd. Stockholders of record on Friday, August 15th will be paid a $0.716 dividend. 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 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.