Lockheed Martin Investment Management Co. Has $9.45 Million Stock Position in Shell PLC Unsponsored ADR (NYSE:SHEL)

Key Points

• Lockheed Martin Investment Management Co. increased its stake in Shell PLC Unsponsored ADR by 5.7%, owning 128,990 shares worth approximately $9.45 million after buying 6,960 additional shares.
• Shell's recent quarterly earnings reported $1.42 EPS, exceeding estimates of $1.13, with a total revenue of $66.44 billion against expectations of $69.31 billion.
• The company announced a quarterly dividend of $0.716 per share, leading to an annualized dividend yield of 4.0%, and authorized a $3.5 billion share buyback program.

Lockheed Martin Investment Management Co. grew its holdings in shares of Shell PLC Unsponsored ADR (NYSE:SHEL - Free Report) by 5.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 128,990 shares of the energy company's stock after purchasing an additional 6,960 shares during the period. Lockheed Martin Investment Management Co.'s holdings in Shell were worth $9,452,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Brighton Jones LLC grew its position in shares of Shell by 51.7% during the fourth quarter. Brighton Jones LLC now owns 7,463 shares of the energy company's stock worth $468,000 after acquiring an additional 2,545 shares during the last quarter. Barclays PLC grew its position in shares of Shell by 136.2% during the fourth quarter. Barclays PLC now owns 7,824 shares of the energy company's stock worth $490,000 after acquiring an additional 4,512 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Shell by 4.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 19,323 shares of the energy company's stock worth $1,401,000 after acquiring an additional 815 shares during the last quarter. PNC Financial Services Group Inc. grew its position in shares of Shell by 2.7% during the first quarter. PNC Financial Services Group Inc. now owns 908,572 shares of the energy company's stock worth $66,580,000 after acquiring an additional 23,680 shares during the last quarter. Finally, Merit Financial Group LLC grew its position in shares of Shell by 100.9% during the first quarter. Merit Financial Group LLC now owns 11,534 shares of the energy company's stock worth $845,000 after acquiring an additional 5,794 shares during the last quarter. 28.60% of the stock is owned by institutional investors and hedge funds.

Shell Price Performance

Shares of NYSE SHEL traded up $0.44 during midday trading on Wednesday, reaching $72.69. 3,853,612 shares of the company traded hands, compared to its average volume of 4,736,592. The firm has a market cap of $214.88 billion, a PE ratio of 16.37, a PEG ratio of 1.90 and a beta of 0.44. The stock's 50-day simple moving average is $71.17 and its 200-day simple moving average is $68.25. Shell PLC Unsponsored ADR has a 12 month low of $58.54 and a 12 month high of $74.18. 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 (NYSE:SHEL - Get Free Report) last announced its earnings results on Thursday, July 31st. The energy company reported $1.42 earnings per share for the quarter, beating analysts' consensus estimates of $1.13 by $0.29. Shell had a return on equity of 10.67% and a net margin of 4.93%. The company had revenue of $66.44 billion during the quarter, compared to analyst estimates of $69.31 billion. As a group, equities analysts anticipate that Shell PLC Unsponsored ADR will post 7.67 earnings per share for the current fiscal year.

Shell Dividend Announcement

The firm also recently announced 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. The ex-dividend date is Friday, August 15th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 3.9%. Shell's dividend payout ratio (DPR) is 64.41%.

Shell announced that its Board of Directors has approved a share buyback program on Friday, May 2nd that permits the company to repurchase $3.50 billion in shares. This repurchase authorization permits the energy company to repurchase up to 1.8% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's leadership believes its shares are undervalued.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SHEL. Piper Sandler increased their target price on shares of Shell from $83.00 to $84.00 and gave the company an "overweight" rating in a research report on Tuesday, July 15th. Wells Fargo & Company decreased their target price on shares of Shell from $80.00 to $79.00 and set an "overweight" rating for the company in a research report on Thursday, June 26th. Sanford C. Bernstein lowered shares of Shell from an "outperform" rating to a "market perform" rating in a research report on Monday, June 16th. HSBC reissued a "hold" rating and issued a $78.30 price target (down from $78.90) on shares of Shell in a report on Monday, August 4th. Finally, Santander downgraded shares of Shell to a "neutral" rating in a report on Friday, July 11th. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, Shell currently has an average rating of "Moderate Buy" and a consensus price target of $78.64.

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.