Angeles Wealth Management LLC Reduces Stock Position in Shell PLC Unsponsored ADR (NYSE:SHEL)

Angeles Wealth Management LLC cut its stake in shares of Shell PLC Unsponsored ADR (NYSE:SHEL) by 10.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,782 shares of the energy company’s stock after selling 585 shares during the period. Angeles Wealth Management LLC’s holdings in Shell were worth $350,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Kennebec Savings Bank bought a new position in Shell in the first quarter worth approximately $25,000. Brown Lisle Cummings Inc. raised its holdings in Shell by 103.4% in the 1st quarter. Brown Lisle Cummings Inc. now owns 356 shares of the energy company’s stock worth $26,000 after purchasing an additional 181 shares during the period. Transce3nd LLC bought a new stake in Shell during the fourth quarter valued at about $34,000. Summit Securities Group LLC increased its position in Shell by 50.0% in the fourth quarter. Summit Securities Group LLC now owns 600 shares of the energy company’s stock worth $38,000 after buying an additional 200 shares in the last quarter. Finally, Fourth Dimension Wealth LLC bought a new position in shares of Shell in the fourth quarter worth about $43,000. 28.60% of the stock is currently owned by hedge funds and other institutional investors.

Shell Trading Down 0.5%

NYSE SHEL opened at $71.99 on Friday. The stock has a market cap of $212.82 billion, a PE ratio of 16.59, a PEG ratio of 2.09 and a beta of 0.40. Shell PLC Unsponsored ADR has a 12 month low of $58.54 and a 12 month high of $74.46. The company’s 50-day moving average price is $69.86 and its 200-day moving average price is $67.74. 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 (NYSE:SHEL) last posted its quarterly earnings results on Friday, May 2nd. The energy company reported $1.84 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.30. The firm had revenue of $69.23 billion during the quarter, compared to the consensus estimate of $79.18 billion. Shell had a net margin of 4.75% and a return on equity of 11.71%. During the same quarter in the previous year, the firm posted $2.40 earnings per share. Equities research analysts forecast that Shell PLC Unsponsored ADR will post 7.67 earnings per share for the current year.

Shell declared that its board has approved 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 buy up to 1.8% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.

Shell Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 23rd. Investors of record on Friday, May 16th were issued a $0.716 dividend. The ex-dividend date was Friday, May 16th. This represents a $2.86 annualized dividend and a dividend yield of 3.98%. Shell’s payout ratio is currently 65.90%.

Analysts Set New Price Targets

Several equities analysts have weighed in on SHEL shares. Scotiabank reaffirmed an “outperform” rating on shares of Shell in a report on Friday, July 11th. Sanford C. Bernstein cut shares of Shell from an “outperform” rating to a “market perform” rating in a research report on Monday, June 16th. Piper Sandler raised their target price on shares of Shell from $83.00 to $84.00 and gave the company an “overweight” rating in a research note on Tuesday, July 15th. Wells Fargo & Company dropped their price objective on shares of Shell from $80.00 to $79.00 and set an “overweight” rating for the company in a report on Thursday, June 26th. Finally, TD Cowen reduced their target price on Shell from $82.00 to $76.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. Three investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $78.69.

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.