First Eagle Investment Management LLC Increases Position in Shell PLC Unsponsored ADR $SHEL

Key Points

• First Eagle Investment Management increased its Shell position by 1.5% in the second quarter, adding 16,244 shares for a total of 1.07 million shares valued at approximately $83.2 million.
• Shell reported quarterly earnings of $3.52 per share, beating the $3.23 analyst consensus, while revenue of $94.66 billion also exceeded expectations.
• Analyst sentiment remains mixed: seven analysts rate Shell a Buy and eleven rate it Hold, resulting in a consensus Hold rating and an average price target of $107.46.

First Eagle Investment Management LLC increased its position in Shell PLC Unsponsored ADR (NYSE:SHEL - Free Report) by 1.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,073,265 shares of the energy company's stock after acquiring an additional 16,244 shares during the period. First Eagle Investment Management LLC's holdings in Shell were worth $83,221,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Continuum Advisory LLC acquired a new position in Shell in the 2nd quarter worth approximately $34,000. Zions Bancorporation National Association UT lifted its stake in Shell by 186.7% during the 4th quarter. Zions Bancorporation National Association UT now owns 473 shares of the energy company's stock valued at $35,000 after acquiring an additional 308 shares during the period. Nalls Sherbakoff Group LLC purchased a new stake in shares of Shell in the 4th quarter valued at $36,000. Kilter Group LLC raised its holdings in shares of Shell by 83.1% during the second quarter. Kilter Group LLC now owns 498 shares of the energy company's stock worth $39,000 after purchasing an additional 226 shares during the last quarter. Finally, Allied Private Wealth LLC acquired a new position in Shell during the second quarter valued at $43,000. 28.60% of the stock is owned by institutional investors and hedge funds.

Shell Trading Up 0.0%

Shares of NYSE:SHEL opened at $92.98 on Monday. The firm has a market capitalization of $260.67 billion, a price-to-earnings ratio of 10.26, a price-to-earnings-growth ratio of 0.85 and a beta of 0.05. The business's 50 day moving average price is $87.65 and its 200-day moving average price is $86.89. 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 PLC Unsponsored ADR has a 1 year low of $68.63 and a 1 year high of $94.90.

Shell (NYSE:SHEL - Get Free Report) last posted its quarterly earnings data on Friday, July 31st. The energy company reported $3.52 earnings per share for the quarter, topping analysts' consensus estimates of $3.23 by $0.29. The company 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%. On average, equities research analysts forecast that Shell PLC Unsponsored ADR will post 10.53 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SHEL has been the topic of several analyst reports. HSBC raised Shell from a "hold" rating to a "buy" rating in a research report on Monday, May 18th. Mizuho initiated coverage on Shell in a research note on Monday, July 20th. They issued a "neutral" rating and a $98.00 target price on the stock. Jefferies Financial Group raised their target price on Shell to $122.40 and gave the stock a "buy" rating in a report on Thursday, May 21st. TD Cowen reissued a "buy" rating on shares of Shell in a report on Thursday, July 2nd. Finally, Wall Street Zen upgraded Shell from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 8th. Seven equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $107.46.

About Shell

Shell plc NYSE: SHEL is a global integrated energy company that operates across the full oil and gas value chain as well as in developing lower-carbon energy solutions. The company traces its roots to the early 20th century merger of Royal Dutch Petroleum and Shell Transport and Trading, and today it is organized to explore for and produce hydrocarbons, process and refine them, manufacture petrochemicals, and market fuel, lubricants and related products under the Shell brand around the world.

Shell's principal activities include upstream exploration and production of oil and natural gas, integrated gas operations including liquefied natural gas (LNG), and downstream refining, supply and marketing.

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