Sit Investment Associates Inc. Buys 3,947 Shares of Shell PLC Unsponsored ADR $SHEL

Key Points

• Sit Investment Associates Inc. has increased its holdings in Shell PLC Unsponsored ADR by 3.0% in the first quarter, owning 136,800 shares valued at approximately $10 million.
• Shell recently announced a $3.50 billion stock repurchase plan, indicating the board's belief that the stock is undervalued.
• A recent quarterly dividend of $0.716 per share will be paid on September 22nd, with a dividend yield of 3.9%.

Sit Investment Associates Inc. increased its holdings in shares of Shell PLC Unsponsored ADR (NYSE:SHEL - Free Report) by 3.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 136,800 shares of the energy company's stock after buying an additional 3,947 shares during the quarter. Sit Investment Associates Inc.'s holdings in Shell were worth $10,025,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Warther Private Wealth LLC increased its stake in shares of Shell by 5.0% in the first quarter. Warther Private Wealth LLC now owns 3,433 shares of the energy company's stock valued at $252,000 after buying an additional 165 shares during the period. Harbour Capital Advisors LLC lifted its position in shares of Shell by 2.4% in the 1st quarter. Harbour Capital Advisors LLC now owns 7,235 shares of the energy company's stock worth $505,000 after purchasing an additional 170 shares during the period. Golden State Equity Partners boosted its stake in shares of Shell by 5.1% in the 1st quarter. Golden State Equity Partners now owns 3,562 shares of the energy company's stock valued at $261,000 after purchasing an additional 173 shares during the last quarter. Brown Lisle Cummings Inc. increased its position 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 buying an additional 181 shares during the period. Finally, Klingman & Associates LLC lifted its holdings in Shell by 5.4% in the first quarter. Klingman & Associates LLC now owns 3,607 shares of the energy company's stock valued at $264,000 after buying an additional 186 shares during the period. 28.60% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on SHEL shares. Wells Fargo & Company lowered their price objective on Shell from $80.00 to $79.00 and set an "overweight" rating for the company in a research report on Thursday, June 26th. Scotiabank reiterated an "outperform" rating on shares of Shell in a report on Friday, July 11th. Piper Sandler cut their price target on Shell from $84.00 to $82.00 and set an "overweight" rating on the stock in a report on Monday. Sanford C. Bernstein lowered shares of Shell from an "outperform" rating to a "market perform" rating in a research note on Monday, June 16th. Finally, Hsbc Global Res cut shares of Shell from a "strong-buy" rating to a "hold" rating in a report on Monday, August 4th. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat, Shell has a consensus rating of "Moderate Buy" and an average target price of $78.39.

Shell Stock Performance

Shares of SHEL traded down $0.33 on Monday, reaching $71.52. 3,074,479 shares of the company's stock traded hands, compared to its average volume of 4,706,779. 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 stock has a market cap of $210.14 billion, a PE ratio of 16.11, a PEG ratio of 1.91 and a beta of 0.44. The stock's 50 day simple moving average is $71.53 and its two-hundred day simple moving average is $68.46. Shell PLC Unsponsored ADR has a 52-week low of $58.54 and a 52-week high of $74.18.

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

Shell Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 22nd. Investors of record on Friday, August 15th will be issued a $0.716 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $2.86 annualized dividend and a yield of 4.0%. Shell's dividend payout ratio (DPR) is 64.41%.

Shell announced that its Board of Directors has initiated a share repurchase plan on Friday, May 2nd that allows the company to buyback $3.50 billion in outstanding shares. This buyback authorization allows the energy company to reacquire up to 1.8% of its shares through open market purchases. Shares buyback plans are often a sign that the company's board of directors believes its stock is undervalued.

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.