42,478 Shell PLC Unsponsored ADR $SHEL Shares Sold by State Street Corp

Key Points

• State Street cut its Shell stake by 55.3% in the second quarter, selling 42,478 shares and retaining 34,376 shares valued at approximately $2.7 million. Institutional investors own 28.6% of Shell.
• Analysts maintain a generally cautious outlook: seven rate Shell a Buy and eleven rate it a Hold, resulting in a consensus rating of Hold and an average price target of $105.52.
• Shell reported quarterly EPS of $3.52, exceeding estimates of $3.23, while revenue of $94.66 billion also surpassed expectations. The stock opened at $95.71, near its 52-week high of $99.15.

State Street Corp trimmed its stake in shares of Shell PLC Unsponsored ADR (NYSE:SHEL - Free Report) by 55.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,376 shares of the energy company's stock after selling 42,478 shares during the quarter. State Street Corp's holdings in Shell were worth $2,666,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Palogic Value Management L.P. lifted its position in Shell by 31.4% during the second quarter. Palogic Value Management L.P. now owns 54,698 shares of the energy company's stock worth $4,241,000 after acquiring an additional 13,080 shares during the last quarter. WINTON GROUP Ltd bought a new stake in Shell in the 2nd quarter valued at $295,000. Engineers Gate Manager LP grew its holdings in Shell by 300.7% in the 2nd quarter. Engineers Gate Manager LP now owns 840,770 shares of the energy company's stock valued at $65,193,000 after buying an additional 630,948 shares in the last quarter. Integrated Wealth Concepts LLC lifted its holdings in shares of Shell by 1.5% during the second quarter. Integrated Wealth Concepts LLC now owns 40,546 shares of the energy company's stock worth $3,144,000 after buying an additional 590 shares in the last quarter. Finally, RFG Advisory LLC grew its stake in shares of Shell by 4.8% in the second quarter. RFG Advisory LLC now owns 4,622 shares of the energy company's stock valued at $358,000 after acquiring an additional 211 shares in the last quarter. 28.60% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on SHEL. HSBC restated a "buy" rating on shares of Shell in a research note on Friday. TD Cowen reaffirmed a "buy" rating on shares of Shell in a research report on Thursday, July 2nd. Wells Fargo & Company raised their target price on shares of Shell from $100.00 to $105.00 and gave the company an "equal weight" rating in a report on Friday, July 31st. Piper Sandler upped their price target on shares of Shell from $89.00 to $100.00 and gave the stock a "neutral" rating in a report on Thursday, September 3rd. Finally, UBS Group set a $90.00 price target on shares of Shell in a research report on Friday. Seven research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $105.52.

Shell Trading Up 0.1%

SHEL opened at $95.71 on Friday. The company's 50 day moving average price is $91.92 and its two-hundred day moving average price is $88.30. The firm has a market capitalization of $268.32 billion, a price-to-earnings ratio of 10.56, a PEG ratio of 0.81 and a beta of 0.05. Shell PLC Unsponsored ADR has a fifty-two week low of $68.63 and a fifty-two week high of $99.15. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.43 and a quick ratio of 1.12.

Shell (NYSE:SHEL - Get Free Report) last issued 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 return on equity of 14.34% and a net margin of 8.55%.The company had revenue of $94.66 billion during the quarter, compared to the consensus estimate of $86.22 billion. As a group, research analysts predict that Shell PLC Unsponsored ADR will post 10.89 earnings per share for the current year.

Shell 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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