Permanens Capital L.P. Acquires 5,859 Shares of Shell PLC Unsponsored ADR $SHEL

Key Points

• Permanens Capital L.P. increased its stake in Shell PLC by 48.5%, buying an additional 5,859 shares, bringing its total ownership to 17,940 shares worth about $1.3 million.
• Shell recently reported earnings of $1.42 per share, surpassing the expected $1.13, with a revenue of $66.44 billion, though this was below the estimated $69.31 billion.
• A quarterly dividend of $0.716 per share was announced, reflecting a 4% yield, with a dividend payout ratio of 64.41%.

Permanens Capital L.P. grew its position in Shell PLC Unsponsored ADR (NYSE:SHEL - Free Report) by 48.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 17,940 shares of the energy company's stock after purchasing an additional 5,859 shares during the quarter. Shell makes up about 0.2% of Permanens Capital L.P.'s portfolio, making the stock its 27th largest position. Permanens Capital L.P.'s holdings in Shell were worth $1,315,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. Dimensional Fund Advisors LP raised its holdings in Shell by 2.0% during the first quarter. Dimensional Fund Advisors LP now owns 23,272,913 shares of the energy company's stock worth $1,705,430,000 after buying an additional 451,233 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Shell by 5.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,253,238 shares of the energy company's stock worth $531,519,000 after buying an additional 352,569 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in Shell by 21.2% during the first quarter. Goldman Sachs Group Inc. now owns 6,571,809 shares of the energy company's stock worth $481,582,000 after buying an additional 1,150,198 shares during the last quarter. Pzena Investment Management LLC raised its holdings in Shell by 0.4% during the first quarter. Pzena Investment Management LLC now owns 3,592,218 shares of the energy company's stock worth $263,238,000 after buying an additional 15,043 shares during the last quarter. Finally, Voloridge Investment Management LLC raised its holdings in Shell by 170.3% during the fourth quarter. Voloridge Investment Management LLC now owns 3,463,372 shares of the energy company's stock worth $216,980,000 after buying an additional 2,182,253 shares during the last quarter. Institutional investors and hedge funds own 28.60% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on SHEL. Scotiabank reissued an "outperform" rating on shares of Shell in a research report on Friday, July 11th. Piper Sandler decreased their price objective on shares of Shell from $84.00 to $82.00 and set an "overweight" rating for the company in a report on Monday, August 18th. Sanford C. Bernstein downgraded shares of Shell from an "outperform" rating to a "market perform" rating in a report on Monday, June 16th. Hsbc Global Res downgraded shares of Shell from a "strong-buy" rating to a "hold" rating in a report on Monday, August 4th. Finally, Wells Fargo & Company reduced their target price on shares of Shell from $80.00 to $79.00 and set an "overweight" rating for the company in a research note on Thursday, June 26th. Ten research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $76.71.

Shell Price Performance

Shares of SHEL stock traded up $0.90 during trading hours on Tuesday, reaching $72.61. The stock had a trading volume of 823,615 shares, compared to its average volume of 4,544,034. The stock's fifty day simple moving average is $72.06 and its 200 day simple moving average is $69.10. 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 12 month low of $58.54 and a 12 month high of $74.21. The firm has a market capitalization of $213.33 billion, a PE ratio of 16.35, a PEG ratio of 1.88 and a beta of 0.46.

Shell (NYSE:SHEL - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The energy company reported $1.42 EPS for the quarter, beating analysts' consensus estimates of $1.13 by $0.29. Shell had a net margin of 4.93% and a return on equity of 10.67%. The company had revenue of $66.44 billion during the quarter, compared to analyst estimates of $69.31 billion. On average, equities research analysts predict that Shell PLC Unsponsored ADR will post 7.67 EPS for the current year.

Shell Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 22nd. Shareholders of record on Friday, August 15th will be given a dividend of $0.716 per share. The ex-dividend date is Friday, August 15th. This represents a $2.86 annualized dividend and a yield of 3.9%. Shell's payout ratio is presently 64.41%.

Shell Company 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.