Baker Avenue Asset Management LP Buys 2,275 Shares of Shell PLC Unsponsored ADR (NYSE:SHEL)

Baker Avenue Asset Management LP lifted its stake in Shell PLC Unsponsored ADR (NYSE:SHEL) by 5.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 41,242 shares of the energy company’s stock after acquiring an additional 2,275 shares during the quarter. Baker Avenue Asset Management LP’s holdings in Shell were worth $3,022,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Kennebec Savings Bank purchased a new stake in Shell during the 1st quarter valued at $25,000. Brown Lisle Cummings Inc. grew its holdings in shares of Shell by 103.4% in the first quarter. Brown Lisle Cummings Inc. now owns 356 shares of the energy company’s stock worth $26,000 after acquiring an additional 181 shares during the period. Transce3nd LLC bought a new position in Shell in the fourth quarter valued at about $34,000. Fourth Dimension Wealth LLC purchased a new position in Shell in the fourth quarter worth about $43,000. Finally, Vermillion Wealth Management Inc. bought a new stake in shares of Shell during the 4th quarter valued at about $44,000. 28.60% of the stock is owned by hedge funds and other institutional investors.

Shell Stock Performance

NYSE:SHEL opened at $71.99 on Friday. The stock has a 50-day moving average price of $70.45 and a 200 day moving average price of $67.97. 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 12-month low of $58.54 and a 12-month high of $74.18. The stock has a market capitalization of $212.81 billion, a P/E ratio of 16.21, a P/E/G ratio of 2.09 and a beta of 0.44.

Shell (NYSE:SHEL) last announced its quarterly earnings data on Thursday, July 31st. The energy company reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.29. Shell had a net margin of 4.93% and a return on equity of 10.66%. The business had revenue of $66.44 billion during the quarter, compared to analyst estimates of $69.31 billion. Equities research analysts forecast that Shell PLC Unsponsored ADR will post 7.67 EPS for the current fiscal year.

Shell Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 23rd. Stockholders of record on Friday, May 16th were given a dividend of $0.716 per share. The ex-dividend date was Friday, May 16th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 4.0%. Shell’s dividend payout ratio (DPR) is presently 65.90%.

Shell announced that its Board of Directors has initiated a stock buyback program on Friday, May 2nd that permits the company to repurchase $3.50 billion in outstanding shares. This repurchase authorization permits the energy company to repurchase up to 1.8% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on SHEL shares. Wells Fargo & Company dropped their price objective on shares of Shell from $80.00 to $79.00 and set an “overweight” rating on the stock in a report on Thursday, June 26th. TD Securities restated a “buy” rating on shares of Shell in a research note on Friday, April 4th. Hsbc Global Res upgraded Shell to a “strong-buy” rating in a research report on Tuesday, May 13th. Piper Sandler upped their price target on Shell from $83.00 to $84.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 15th. Finally, Sanford C. Bernstein cut Shell from an “outperform” rating to a “market perform” rating in a research report on Monday, June 16th. Three investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $78.69.

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.