Letko Brosseau & Associates Inc. Sells 12,175 Shares of Shell PLC Unsponsored ADR (NYSE:SHEL)

Key Points

• Letko Brosseau & Associates Inc. reduced its position in Shell PLC Unsponsored ADR by 1.8%, owning 646,677 shares valued at approximately $47.39 million after selling 12,175 shares in Q1.
• Shell recently reported earnings of $1.84 per share, beating expectations, but its revenue of $69.23 billion fell short of analyst estimates.
• The company has initiated a $3.5 billion stock repurchase program and declared a quarterly dividend of $0.716 per share with an annualized yield of 3.92%.

Letko Brosseau & Associates Inc. trimmed its position in Shell PLC Unsponsored ADR (NYSE:SHEL - Free Report) by 1.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 646,677 shares of the energy company's stock after selling 12,175 shares during the quarter. Letko Brosseau & Associates Inc.'s holdings in Shell were worth $47,388,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Kennebec Savings Bank purchased a new stake in Shell during the 1st quarter valued at approximately $25,000. Brown Lisle Cummings Inc. increased its stake in shares of 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 during the period. Transce3nd LLC acquired a new stake in Shell in the fourth quarter valued at about $34,000. Fourth Dimension Wealth LLC purchased a new stake in Shell in the 4th quarter valued at approximately $43,000. Finally, Vermillion Wealth Management Inc. purchased a new position in shares of Shell during the 4th quarter worth approximately $44,000. 28.60% of the stock is owned by institutional investors and hedge funds.

Shell Stock Down 0.3%

NYSE SHEL traded down $0.22 during trading on Friday, hitting $71.99. 5,433,887 shares of the company traded hands, compared to its average volume of 4,796,892. Shell PLC Unsponsored ADR has a 12 month low of $58.54 and a 12 month high of $74.18. The company has a market capitalization of $212.81 billion, a P/E ratio of 16.59, a PEG ratio of 2.08 and a beta of 0.40. 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 business has a fifty day simple moving average of $70.21 and a 200 day simple moving average of $67.88.

Shell (NYSE:SHEL - Get Free Report) last announced its earnings results on Thursday, August 7th. The energy company reported $1.42 earnings per share for the quarter, missing the consensus estimate of $1.47 by ($0.05). The business had revenue of $66.44 billion for the quarter, compared to the consensus estimate of $69.31 billion. Shell had a net margin of 4.75% and a return on equity of 11.71%. As a group, sell-side analysts predict that Shell PLC Unsponsored ADR will post 7.67 EPS for the current year.

Shell declared that its board has authorized a stock repurchase program on Friday, May 2nd that authorizes the company to repurchase $3.50 billion in shares. This repurchase authorization authorizes the energy company to buy up to 1.8% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

Shell Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 23rd. Stockholders of record on Friday, May 16th were given 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 was Friday, May 16th. Shell's dividend payout ratio is presently 65.90%.

Analyst Ratings Changes

SHEL has been the subject of several research reports. Wells Fargo & Company reduced their price objective on Shell from $80.00 to $79.00 and set an "overweight" rating for the company in a report on Thursday, June 26th. Piper Sandler lifted their price objective on Shell from $83.00 to $84.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 15th. TD Cowen decreased their price objective on Shell from $82.00 to $76.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Hsbc Global Res raised shares of Shell to a "strong-buy" rating in a research report on Tuesday, May 13th. Finally, TD Securities reiterated a "buy" rating on shares of Shell in a report on Friday, April 4th. Three analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $78.69.

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.