HighTower Advisors LLC Sells 10,890 Shares of Shell PLC Unsponsored ADR $SHEL

Key Points

• HighTower Advisors reduced its Shell stake by 3.6% in the second quarter, selling 10,890 shares and retaining 293,932 shares valued at approximately $22.8 million.
• Shell reported quarterly earnings of $3.52 per share, beating estimates of $3.23, while revenue of $94.66 billion exceeded the $86.22 billion consensus forecast.
• SHEL opened at $95.34, near its 12-month high of $95.81. Analysts maintain a consensus “Hold” rating, with an average price target of $107.46.

HighTower Advisors LLC cut its holdings in Shell PLC Unsponsored ADR (NYSE:SHEL - Free Report) by 3.6% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 293,932 shares of the energy company's stock after selling 10,890 shares during the quarter. HighTower Advisors LLC's holdings in Shell were worth $22,791,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Continuum Advisory LLC bought a new stake in Shell in the 2nd quarter valued at about $34,000. Zions Bancorporation National Association UT increased 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 purchasing an additional 308 shares in the last quarter. Nalls Sherbakoff Group LLC bought a new stake in shares of Shell during the fourth quarter worth about $36,000. Kilter Group LLC boosted its stake in Shell by 83.1% during the 2nd quarter. Kilter Group LLC now owns 498 shares of the energy company's stock valued at $39,000 after purchasing an additional 226 shares during the last quarter. Finally, Allied Private Wealth LLC purchased a new stake in Shell in the 2nd quarter valued at $43,000. 28.60% of the stock is currently owned by institutional investors and hedge funds.

Shell Price Performance

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

Shell (NYSE:SHEL - Get Free Report) last announced its quarterly 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. 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 analyst estimates of $86.22 billion. As a group, equities analysts predict that Shell PLC Unsponsored ADR will post 10.53 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on SHEL. Piper Sandler raised their target price on Shell from $89.00 to $100.00 and gave the company a "neutral" rating in a research report on Thursday, September 3rd. Wall Street Zen upgraded shares of Shell from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 8th. Morgan Stanley set a $101.30 target price on shares of Shell and gave the company an "overweight" rating in a research report on Thursday, September 3rd. Weiss Ratings raised shares of Shell from a "buy (b-)" rating to a "buy (b)" rating in a report on Tuesday, July 28th. Finally, Zacks Research lowered Shell from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 25th. Seven research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $107.46.

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.

Want to see what other hedge funds are holding SHEL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Shell PLC Unsponsored ADR (NYSE:SHEL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.