Pzena Investment Management LLC reduced its holdings in shares of Shell PLC Unsponsored ADR (NYSE:SHEL – Free Report) by 2.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,513,507 shares of the energy company’s stock after selling 67,737 shares during the quarter. Pzena Investment Management LLC owned approximately 0.09% of Shell worth $238,909,000 as of its most recent filing with the SEC.
A number of other hedge funds have also made changes to their positions in SHEL. Engineers Gate Manager LP boosted its holdings in Shell by 300.7% in the second quarter. Engineers Gate Manager LP now owns 840,770 shares of the energy company’s stock valued at $65,193,000 after purchasing an additional 630,948 shares in the last quarter. Waverly Advisors LLC raised its holdings in Shell by 307.1% during the second quarter. Waverly Advisors LLC now owns 407,847 shares of the energy company’s stock worth $31,624,000 after purchasing an additional 307,671 shares in the last quarter. Cibc World Market Inc. lifted its position in shares of Shell by 66.3% during the 2nd quarter. Cibc World Market Inc. now owns 586,039 shares of the energy company’s stock worth $45,441,000 after buying an additional 233,634 shares during the last quarter. Van ECK Associates Corp boosted its holdings in shares of Shell by 44.3% in the 2nd quarter. Van ECK Associates Corp now owns 643,152 shares of the energy company’s stock valued at $49,870,000 after buying an additional 197,551 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its position in shares of Shell by 7.9% in the 2nd quarter. Envestnet Asset Management Inc. now owns 2,352,694 shares of the energy company’s stock valued at $182,425,000 after buying an additional 171,873 shares during the last quarter. Hedge funds and other institutional investors own 28.60% of the company’s stock.
Shell Stock Down 2.3%
SHEL stock opened at $101.76 on Thursday. The company has a market cap of $291.51 billion, a price-to-earnings ratio of 8.83, a price-to-earnings-growth ratio of 0.87 and a beta of 0.07. The company has a fifty day moving average price of $98.74 and a 200 day moving average price of $88.62. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.38 and a quick ratio of 1.09. Shell PLC Unsponsored ADR has a 12 month low of $68.63 and a 12 month high of $109.37.
Shell (NYSE:SHEL – Get Free Report) last issued its quarterly earnings data on Thursday, October 29th. The energy company reported $3.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.60 by $0.26. Shell had a net margin of 9.96% and a return on equity of 16.86%. The company had revenue of $92.85 billion for the quarter, compared to the consensus estimate of $93.25 billion. Sell-side analysts expect that Shell PLC Unsponsored ADR will post 12.32 earnings per share for the current year.
Shell announced that its board has approved a stock buyback plan on Thursday, October 29th that authorizes the company to repurchase $5 billion in shares. This buyback authorization authorizes the energy company to buy up to 1.7% of its stock through open market purchases. Share buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.
Analyst Upgrades and Downgrades
A number of equities research analysts recently weighed in on SHEL shares. Mizuho set a $103.00 price target on shares of Shell in a research report on Monday, October 12th. Piper Sandler raised their price objective on Shell from $89.00 to $100.00 and gave the stock a “neutral” rating in a report on Thursday, September 3rd. Jefferies Financial Group reiterated a “buy” rating on shares of Shell in a research report on Thursday, October 29th. Weiss Ratings raised Shell from a “buy (a-)” rating to a “buy (a)” rating in a report on Friday, October 30th. Finally, JPMorgan Chase & Co. reissued a “buy” rating on shares of Shell in a research report on Wednesday, October 21st. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Shell presently has an average rating of “Moderate Buy” and a consensus target price of $107.08.
Read Our Latest Report on Shell
Shell Company Profile
Shell plc is a global energy company headquartered in London, England. Its operations span the energy value chain, including the exploration, production, processing, trading and marketing of oil and natural gas. The company is also a major participant in liquefied natural gas (LNG), refining, chemicals and energy-related products.
Shell sells fuels, lubricants and other petroleum products through branded retail and commercial businesses, while also providing services to industrial, marine and aviation customers.
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