Engineers Gate Manager LP Has $65.19 Million Position in Shell PLC Unsponsored ADR $SHEL

Key Points

• Engineers Gate Manager LP increased its Shell stake by 300.7% in the second quarter, adding 630,948 shares for a total position of 840,770 shares valued at approximately $65.19 million.
• Shell reported quarterly earnings of $3.52 per share, beating analysts’ $3.23 estimate, while revenue of $94.66 billion also exceeded expectations.
• Shell shares opened at $95.34, near their 12-month high, but analysts maintain a consensus “Hold” rating with an average price target of $107.46.

Engineers Gate Manager LP grew its stake in shares of Shell PLC Unsponsored ADR (NYSE:SHEL - Free Report) by 300.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 840,770 shares of the energy company's stock after acquiring an additional 630,948 shares during the period. Shell accounts for 0.8% of Engineers Gate Manager LP's holdings, making the stock its 8th largest position. Engineers Gate Manager LP's holdings in Shell were worth $65,193,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Integrated Wealth Concepts LLC grew its holdings in Shell by 1.5% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 40,546 shares of the energy company's stock valued at $3,144,000 after buying an additional 590 shares in the last quarter. RFG Advisory LLC boosted its position 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 during the period. Baird Financial Group Inc. grew its stake in shares of Shell by 12.5% in the second quarter. Baird Financial Group Inc. now owns 82,399 shares of the energy company's stock valued at $6,389,000 after acquiring an additional 9,166 shares in the last quarter. West Family Investments Inc. increased its position in Shell by 63.6% during the second quarter. West Family Investments Inc. now owns 12,116 shares of the energy company's stock worth $939,000 after acquiring an additional 4,708 shares during the period. Finally, Waverly Advisors LLC boosted its holdings in Shell by 307.1% in the 2nd quarter. Waverly Advisors LLC now owns 407,847 shares of the energy company's stock valued at $31,624,000 after purchasing an additional 307,671 shares during the period. 28.60% of the stock is currently owned by institutional investors.

Shell Stock Performance

Shell stock opened at $95.34 on Wednesday. The company has a quick ratio of 1.12, a current ratio of 1.43 and a debt-to-equity ratio of 0.36. The stock has a market cap of $267.30 billion, a PE ratio of 10.52, a P/E/G ratio of 0.85 and a beta of 0.05. Shell PLC Unsponsored ADR has a 12-month low of $68.63 and a 12-month high of $95.81. The business's 50-day moving average price is $88.33 and its two-hundred day moving average price is $87.10.

Shell (NYSE:SHEL - Get Free Report) last posted its earnings results on Friday, July 31st. The energy company reported $3.52 EPS for the quarter, topping analysts' consensus estimates of $3.23 by $0.29. The firm had revenue of $94.66 billion during the quarter, compared to analysts' expectations of $86.22 billion. Shell had a net margin of 8.55% and a return on equity of 14.34%. As a group, analysts expect that Shell PLC Unsponsored ADR will post 10.53 earnings per share for the current fiscal year.

Analyst Ratings Changes

SHEL has been the subject of several recent research reports. Wells Fargo & Company boosted their price target on Shell from $100.00 to $105.00 and gave the company an "equal weight" rating in a research note on Friday, July 31st. Mizuho initiated coverage on Shell in a report on Monday, July 20th. They issued a "neutral" rating and a $98.00 price objective for the company. Zacks Research lowered Shell from a "strong-buy" rating to a "hold" rating in a report on Monday, May 25th. HSBC raised Shell from a "hold" rating to a "buy" rating in a research note on Monday, May 18th. Finally, Piper Sandler raised their target price on shares of Shell from $89.00 to $100.00 and gave the company a "neutral" rating in a report on Thursday, September 3rd. Seven investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $107.46.

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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