Equity Investment Corp lessened its stake in shares of Shell PLC Unsponsored ADR (NYSE:SHEL – Free Report) by 2.9% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,032,428 shares of the energy company’s stock after selling 31,273 shares during the period. Equity Investment Corp’s holdings in Shell were worth $98,132,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bank of America Corp DE grew its holdings in Shell by 1.9% during the second quarter. Bank of America Corp DE now owns 7,709,715 shares of the energy company’s stock valued at $597,811,000 after purchasing an additional 146,988 shares during the period. Envestnet Asset Management Inc. raised its stake in shares of Shell by 7.9% in the second 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 period. Palogic Value Management L.P. raised its stake in shares of Shell by 31.4% in the second quarter. Palogic Value Management L.P. now owns 54,698 shares of the energy company’s stock valued at $4,241,000 after buying an additional 13,080 shares during the period. IFP Advisors Inc lifted its position in shares of Shell by 86.6% during the 3rd quarter. IFP Advisors Inc now owns 25,800 shares of the energy company’s stock valued at $2,452,000 after buying an additional 11,974 shares during the last quarter. Finally, Diversify Advisory Services LLC purchased a new position in shares of Shell during the 2nd quarter valued at $854,000. 28.60% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several brokerages recently weighed in on SHEL. JPMorgan Chase & Co. reissued a “buy” rating on shares of Shell in a report on Wednesday, October 21st. Wall Street Zen raised shares of Shell from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 8th. Jefferies Financial Group reiterated a “buy” rating on shares of Shell in a research report on Thursday, October 29th. Barclays reiterated an “overweight” rating on shares of Shell in a research note on Monday, October 5th. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of Shell in a research report on Monday, November 2nd. 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $107.08.
Check Out Our Latest Analysis on SHEL
Shell Price Performance
Shell stock opened at $97.29 on Wednesday. The firm has a market capitalization of $278.71 billion, a P/E ratio of 8.45, a PEG ratio of 0.82 and a beta of 0.07. Shell PLC Unsponsored ADR has a one year low of $68.63 and a one year high of $109.37. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.38 and a quick ratio of 1.09. The business has a fifty day moving average price of $99.36 and a 200-day moving average price of $89.13.
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 analysts’ consensus estimates of $3.60 by $0.26. Shell had a return on equity of 16.86% and a net margin of 9.96%. The business had revenue of $92.85 billion for the quarter, compared to analysts’ expectations of $93.25 billion. As a group, equities research analysts forecast that Shell PLC Unsponsored ADR will post 12.40 EPS for the current year.
Shell announced that its Board of Directors has initiated a share repurchase program on Thursday, October 29th that permits the company to buy back $5 billion in shares. This repurchase authorization permits the energy company to reacquire up to 1.7% of its shares through open market purchases. Share repurchase programs are often an indication that the company’s management believes its shares are undervalued.
Shell Profile
Shell plc is a global energy company engaged in the exploration and production of oil and natural gas, natural gas liquefaction and marketing, and the refining and sale of fuels and other products. Its businesses also include chemicals, power and energy solutions, including lower-carbon offerings such as biofuels, hydrogen and electric-vehicle charging. The company serves customers and operates across regions worldwide. Its products and services reach consumers, businesses and industrial customers through activities such as fuel retailing, natural gas supply, chemicals production and energy trading.
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