Investment firm Kestra Private Wealth Services LLC has increased its stock holdings in energy company Shell plc (NYSE:SHEL) by a staggering 74.8%. According to the Securities and Exchange Commission (SEC) filing, the firm now owns 23,684 shares of Shell’s stock, which is approximately $1,349,000 in value.
Shell is a well-established energy and petrochemical company that operates globally across Europe, Asia, Oceania, Africa, the United States and Rest of the Americas. The company has several key segments: Integrated Gas, Upstream, Marketing, Chemicals and Products; it explores for crude oil and natural gas while also delivering midstream infrastructure required to deliver gas to market. With a market cap of $216.30 billion Shell opened trading at $62.06 on Friday with a PE ratio of 5:43 indicating its resilience despite challenges posed by COVID-19 pandemic to global businesses.
Despite the ongoing global health crisis that has affected nearly all sectors of the economy since early this year Shell seems to have remained resilient with reasons attributed to strategic investments amongst other factors. A quick review shows that The company’s year-to-date (YTD) gain stands at 17%, higher than most companies during these times. As traditional outlets are closing down and media costs sharply increasing we know that investors such as Kestra Private Wealth Services LLC hunt for innovative methods to increase returns on their stakeholders’ behalf.
The outlook for crude oil looks positive as economies start pick up after months of losing money due to stringent public measures set up against spread of COVID-19 across nations who trade with/to each for this resource . Expansion into alternative energy sources such as Renewables and Energy Solutions would allow companies like Shell plc diversify portfolios helping them cope better in turbulent scenarios such as those precipitated by effects from pandemics or natural disasters.
