JCIC Asset Management Inc. Sells 826 Shares of Shell PLC Unsponsored ADR (NYSE:SHEL)

JCIC Asset Management Inc. trimmed its stake in shares of Shell PLC Unsponsored ADR (NYSE:SHEL) by 1.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,256 shares of the energy company’s stock after selling 826 shares during the quarter. Shell makes up 1.4% of JCIC Asset Management Inc.’s investment portfolio, making the stock its 27th largest position. JCIC Asset Management Inc.’s holdings in Shell were worth $3,316,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. FMR LLC increased its position in Shell by 32.3% during the 4th quarter. FMR LLC now owns 86,417,177 shares of the energy company’s stock valued at $5,414,036,000 after buying an additional 21,118,234 shares in the last quarter. Fisher Asset Management LLC grew its holdings in Shell by 1.7% during the fourth quarter. Fisher Asset Management LLC now owns 24,938,735 shares of the energy company’s stock valued at $1,562,412,000 after purchasing an additional 408,088 shares during the period. Wellington Management Group LLP grew its holdings in Shell by 3.1% during the fourth quarter. Wellington Management Group LLP now owns 7,982,817 shares of the energy company’s stock valued at $500,123,000 after purchasing an additional 238,705 shares during the period. Franklin Resources Inc. grew its holdings in Shell by 0.8% during the fourth quarter. Franklin Resources Inc. now owns 6,023,173 shares of the energy company’s stock valued at $377,352,000 after purchasing an additional 50,228 shares during the period. Finally, Voloridge Investment Management LLC boosted its stake in shares of Shell by 170.3% in the fourth quarter. Voloridge Investment Management LLC now owns 3,463,372 shares of the energy company’s stock worth $216,980,000 after acquiring an additional 2,182,253 shares during the period. 28.60% of the stock is currently owned by institutional investors.

Shell Stock Down 1.0%

NYSE:SHEL opened at $70.13 on Wednesday. The company has a quick ratio of 1.08, a current ratio of 1.32 and a debt-to-equity ratio of 0.36. The stock’s fifty day moving average is $67.29 and its two-hundred day moving average is $66.41. Shell PLC Unsponsored ADR has a 52 week low of $58.55 and a 52 week high of $74.46. The stock has a market capitalization of $208.52 billion, a price-to-earnings ratio of 16.16, a price-to-earnings-growth ratio of 1.85 and a beta of 0.39.

Shell (NYSE:SHEL) last posted 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 for the quarter, compared to analyst estimates of $79.18 billion. Shell had a return on equity of 11.71% and a net margin of 4.75%. During the same quarter in the prior year, the company earned $2.40 earnings per share. Research analysts anticipate that Shell PLC Unsponsored ADR will post 7.67 EPS for the current year.

Shell Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 23rd. Shareholders of record on Friday, May 16th were issued a dividend of $0.716 per share. This represents a $2.86 annualized dividend and a dividend yield of 4.08%. The ex-dividend date of this dividend was Friday, May 16th. Shell’s payout ratio is 65.90%.

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

Analyst Upgrades and Downgrades

A number of research firms recently commented on SHEL. Piper Sandler boosted their target price on Shell from $72.00 to $80.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 13th. Scotiabank cut their target price on Shell from $75.00 to $70.00 and set a “sector outperform” rating on the stock in a research note on Friday, April 11th. Sanford C. Bernstein cut Shell from an “outperform” rating to a “market perform” rating in a research note on Monday, June 16th. Royal Bank Of Canada reissued an “outperform” rating on shares of Shell in a research note on Wednesday, March 26th. Finally, Hsbc Global Res raised Shell to a “strong-buy” rating in a research report on Tuesday, May 13th. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $78.26.

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.