Y Intercept Hong Kong Ltd lifted its stake in Shell PLC Unsponsored ADR (NYSE:SHEL - Free Report) by 755.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 85,815 shares of the energy company's stock after acquiring an additional 75,781 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in Shell were worth $6,289,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Kennebec Savings Bank purchased a new stake in shares of Shell in the first quarter valued at about $25,000. Brown Lisle Cummings Inc. increased its holdings in Shell by 103.4% in the first quarter. Brown Lisle Cummings Inc. now owns 356 shares of the energy company's stock valued at $26,000 after buying an additional 181 shares in the last quarter. CoreFirst Bank & Trust purchased a new position in Shell in the fourth quarter valued at about $28,000. Transce3nd LLC purchased a new position in Shell in the fourth quarter valued at about $34,000. Finally, Millstone Evans Group LLC acquired a new stake in shares of Shell in the fourth quarter valued at approximately $36,000. 28.60% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of brokerages recently issued reports on SHEL. Hsbc Global Res upgraded shares of Shell to a "strong-buy" rating in a research report on Tuesday, May 13th. TD Cowen decreased their target price on shares of Shell from $82.00 to $76.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Santander downgraded shares of Shell to a "neutral" rating in a research note on Friday, July 11th. Sanford C. Bernstein downgraded shares of Shell from an "outperform" rating to a "market perform" rating in a research note on Monday, June 16th. Finally, Piper Sandler increased their price target on shares of Shell from $83.00 to $84.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 15th. Three analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $78.69.
Read Our Latest Research Report on SHEL
Shell Price Performance
Shares of NYSE SHEL traded up $0.94 during midday trading on Tuesday, reaching $71.26. The company's stock had a trading volume of 4,167,571 shares, compared to its average volume of 4,515,946. The company has a 50 day moving average price of $69.47 and a 200 day moving average price of $67.57. The company has a market cap of $210.65 billion, a price-to-earnings ratio of 16.42, a price-to-earnings-growth ratio of 2.04 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. Shell PLC Unsponsored ADR has a one year low of $58.55 and a one year high of $74.46.
Shell (NYSE:SHEL - Get Free Report) last issued its quarterly earnings data on Friday, May 2nd. The energy company reported $1.84 earnings per share for the quarter, topping analysts' consensus estimates of $1.54 by $0.30. The business had revenue of $69.23 billion during the quarter, compared to analysts' expectations of $79.18 billion. Shell had a net margin of 4.75% and a return on equity of 11.71%. During the same period in the previous year, the company earned $2.40 earnings per share. On average, equities research analysts expect that Shell PLC Unsponsored ADR will post 7.67 EPS for the current year.
Shell declared that its board has authorized a stock repurchase plan 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 shares through open market purchases. Shares repurchase plans are usually a sign that the company's management believes its shares are undervalued.
Shell Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 23rd. Shareholders of record on Friday, May 16th were given a $0.716 dividend. This represents a $2.86 annualized dividend and a yield of 4.02%. The ex-dividend date was Friday, May 16th. Shell's payout ratio is presently 65.90%.
Shell Company Profile
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Free Report)
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.
Further Reading
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