Callan Family Office LLC Sells 5,073 Shares of Shell PLC Unsponsored ADR (NYSE:SHEL)

Key Points

• Callan Family Office LLC reduced its position in Shell PLC Unsponsored ADR by 10.6% in the first quarter, holding 42,636 shares worth approximately $3.12 million after selling 5,073 shares.
• Shell reported earnings of $1.42 per share for the quarter, exceeding analyst expectations of $1.13, but its revenue fell short at $66.44 billion against an expected $69.31 billion.
• The company has authorized a $3.50 billion share buyback program, indicating management's belief that the shares are undervalued, and is offering a quarterly dividend of $0.716 per share with a 4.0% yield.

Callan Family Office LLC cut its position in Shell PLC Unsponsored ADR (NYSE:SHEL - Free Report) by 10.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 42,636 shares of the energy company's stock after selling 5,073 shares during the quarter. Callan Family Office LLC's holdings in Shell were worth $3,124,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in SHEL. Cypress Capital Group bought a new stake in shares of Shell during the 1st quarter valued at approximately $213,000. Meridian Wealth Management LLC grew its holdings in shares of Shell by 6.6% during the 1st quarter. Meridian Wealth Management LLC now owns 10,995 shares of the energy company's stock valued at $806,000 after purchasing an additional 682 shares during the last quarter. Independent Advisor Alliance grew its holdings in shares of Shell by 5.6% during the 1st quarter. Independent Advisor Alliance now owns 18,562 shares of the energy company's stock valued at $1,360,000 after purchasing an additional 992 shares during the last quarter. Linscomb Wealth Inc. bought a new stake in shares of Shell during the 1st quarter valued at approximately $224,000. Finally, SouthState Corp grew its holdings in shares of Shell by 2.8% during the 1st quarter. SouthState Corp now owns 83,990 shares of the energy company's stock valued at $6,155,000 after purchasing an additional 2,309 shares during the last quarter. 28.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SHEL. Scotiabank reaffirmed an "outperform" rating on shares of Shell in a report on Friday, July 11th. Piper Sandler lifted their price target on shares of Shell from $83.00 to $84.00 and gave the company an "overweight" rating in a report on Tuesday, July 15th. Santander lowered shares of Shell to a "neutral" rating in a report on Friday, July 11th. Wells Fargo & Company reduced their target price on shares of Shell from $80.00 to $79.00 and set an "overweight" rating on the stock in a report on Thursday, June 26th. Finally, HSBC reissued a "hold" rating and set a $78.30 target price (down from $78.90) on shares of Shell in a report on Monday, August 4th. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $78.64.

Shell Trading Down 0.1%

Shares of NYSE:SHEL traded down $0.08 during trading on Thursday, reaching $72.67. The stock had a trading volume of 3,244,613 shares, compared to its average volume of 4,726,906. The firm's fifty day moving average is $71.39 and its 200 day moving average is $68.33. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.07 and a current ratio of 1.32. Shell PLC Unsponsored ADR has a 52 week low of $58.54 and a 52 week high of $74.18. The stock has a market cap of $214.83 billion, a price-to-earnings ratio of 16.37, a P/E/G ratio of 1.92 and a beta of 0.44.

Shell (NYSE:SHEL - Get Free Report) last posted 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 for the quarter, compared to analyst estimates of $69.31 billion. As a group, equities analysts forecast that Shell PLC Unsponsored ADR will post 7.67 EPS for the current fiscal year.

Shell Dividend Announcement

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

Shell declared that its Board of Directors has initiated a stock buyback 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 purchase up to 1.8% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's leadership believes its shares are undervalued.

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.