171,873 Shell PLC Unsponsored ADR $SHEL Shares Bought by Envestnet Asset Management Inc.

Key Points

• Envestnet Asset Management increased its Shell holdings by 7.9% in the second quarter, purchasing 171,873 shares for a total position of 2.35 million shares valued at approximately $182.4 million. Several other institutional investors also significantly expanded their positions.
• Analyst sentiment remains mixed: Shell has a consensus rating of “Hold” from MarketBeat, with a consensus price target of $107.46, although several firms recently upgraded the stock or maintained “Buy” ratings.
• Shell reported quarterly EPS of $3.52, beating estimates of $3.23, while revenue reached $94.66 billion versus expectations of $86.22 billion. Shares opened at $95.56, near their 52-week high of $99.15.

Envestnet Asset Management Inc. raised its holdings in shares of Shell PLC Unsponsored ADR (NYSE:SHEL - Free Report) by 7.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,352,694 shares of the energy company's stock after purchasing an additional 171,873 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.08% of Shell worth $182,425,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of SHEL. Engineers Gate Manager LP boosted its holdings in shares of Shell by 300.7% during the second quarter. Engineers Gate Manager LP now owns 840,770 shares of the energy company's stock worth $65,193,000 after acquiring an additional 630,948 shares during the period. Waverly Advisors LLC raised its position in shares of Shell by 307.1% in the second quarter. Waverly Advisors LLC now owns 407,847 shares of the energy company's stock valued at $31,624,000 after buying an additional 307,671 shares in the last quarter. Cibc World Market Inc. boosted its stake in shares of Shell by 66.3% in the second quarter. Cibc World Market Inc. now owns 586,039 shares of the energy company's stock valued at $45,441,000 after buying an additional 233,634 shares during the period. Van ECK Associates Corp grew its position in Shell by 44.3% during the second quarter. Van ECK Associates Corp now owns 643,152 shares of the energy company's stock worth $49,870,000 after buying an additional 197,551 shares in the last quarter. Finally, Cullen Capital Management LLC increased its stake in Shell by 50.0% during the 2nd quarter. Cullen Capital Management LLC now owns 448,464 shares of the energy company's stock worth $34,774,000 after acquiring an additional 149,430 shares during the period. 28.60% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on SHEL shares. Morgan Stanley set a $101.30 target price on Shell and gave the stock an "overweight" rating in a report on Thursday, September 3rd. Weiss Ratings raised shares of Shell from a "buy (b-)" rating to a "buy (b)" rating in a research report on Tuesday, July 28th. Wall Street Zen upgraded shares of Shell from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 8th. TD Cowen restated a "buy" rating on shares of Shell in a research report on Thursday, July 2nd. Finally, Erste Group Bank raised shares of Shell from a "hold" rating to a "buy" rating in a report on Thursday, August 27th. Seven investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat.com, Shell presently has a consensus rating of "Hold" and a consensus target price of $107.46.

Shell Trading Up 0.2%

SHEL opened at $95.56 on Friday. The company has a market cap of $267.91 billion, a P/E ratio of 10.55, a PEG ratio of 0.80 and a beta of 0.05. The company has a current ratio of 1.43, a quick ratio of 1.12 and a debt-to-equity ratio of 0.36. The company's 50 day moving average is $91.75 and its 200-day moving average is $88.25. Shell PLC Unsponsored ADR has a 1-year low of $68.63 and a 1-year high of $99.15.

Shell (NYSE:SHEL - Get Free Report) last released its quarterly earnings data on Friday, July 31st. The energy company reported $3.52 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.23 by $0.29. Shell had a net margin of 8.55% and a return on equity of 14.34%. The business had revenue of $94.66 billion during the quarter, compared to analysts' expectations of $86.22 billion. Equities research analysts predict that Shell PLC Unsponsored ADR will post 10.89 earnings per share for the current fiscal year.

Shell Company Profile

Shell plc is a global energy company headquartered in London, United Kingdom. Its operations span the exploration, production, processing, trading and marketing of energy resources, including crude oil, natural gas and liquefied natural gas (LNG).

The company also operates refineries, petrochemical and chemical businesses, fuel stations and other energy-marketing activities. Through its Energy Solutions operations, Shell provides renewable power, electric-vehicle charging, energy-efficiency services and lower-carbon fuels, while continuing to develop technologies and projects intended to reduce emissions from energy production and use.

Shell traces its history to the Royal Dutch Petroleum Company and the Shell Transport and Trading Company, which combined their operations in 1907.

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