Palogic Value Management L.P. Acquires 13,080 Shares of Shell PLC Unsponsored ADR $SHEL

Key Points

• Palogic Value Management increased its Shell position by 31.4% in the second quarter, purchasing 13,080 additional shares for a total of 54,698 shares valued at approximately $4.24 million.
• Other institutional investors also raised their holdings, with institutions and hedge funds collectively owning 28.6% of Shell. The stock recently traded at $91.14, near its 52-week high of $94.90.
• Shell exceeded quarterly expectations with earnings of $3.52 per share versus the $3.23 consensus and revenue of $94.66 billion. Analysts maintain a consensus “Hold” rating with an average price target of $106.77.

Palogic Value Management L.P. grew its holdings in Shell PLC Unsponsored ADR (NYSE:SHEL - Free Report) by 31.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 54,698 shares of the energy company's stock after buying an additional 13,080 shares during the period. Shell accounts for about 1.4% of Palogic Value Management L.P.'s portfolio, making the stock its 14th biggest holding. Palogic Value Management L.P.'s holdings in Shell were worth $4,241,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Bank of America Corp DE lifted its holdings in Shell by 1.9% during the 2nd quarter. Bank of America Corp DE now owns 7,709,715 shares of the energy company's stock valued at $597,811,000 after purchasing an additional 146,988 shares during the last quarter. Jones Financial Companies Lllp raised its position in shares of Shell by 5.2% in the second quarter. Jones Financial Companies Lllp now owns 776,654 shares of the energy company's stock valued at $59,445,000 after purchasing an additional 38,212 shares during the period. Cibc World Market Inc. lifted its stake in shares of Shell by 66.3% during the 2nd quarter. Cibc World Market Inc. now owns 586,039 shares of the energy company's stock worth $45,441,000 after buying an additional 233,634 shares during the last quarter. Cullen Capital Management LLC grew its stake in Shell by 50.0% in the 2nd quarter. Cullen Capital Management LLC now owns 448,464 shares of the energy company's stock valued at $34,774,000 after buying an additional 149,430 shares during the last quarter. Finally, Great Lakes Advisors LLC raised its holdings in Shell by 2.3% in the 2nd quarter. Great Lakes Advisors LLC now owns 385,622 shares of the energy company's stock valued at $29,901,000 after acquiring an additional 8,659 shares during the period. 28.60% of the stock is owned by institutional investors and hedge funds.

Shell Stock Down 1.2%

Shares of NYSE:SHEL opened at $91.14 on Thursday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.12 and a current ratio of 1.43. Shell PLC Unsponsored ADR has a 52-week low of $68.63 and a 52-week high of $94.90. The company has a market capitalization of $255.51 billion, a PE ratio of 10.06, a price-to-earnings-growth ratio of 0.60 and a beta of 0.05. The company has a fifty day moving average of $85.72 and a 200-day moving average of $86.20.

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 for the quarter, topping analysts' consensus estimates of $3.23 by $0.29. The business had revenue of $94.66 billion for the quarter, compared to analyst estimates of $86.22 billion. Shell had a return on equity of 14.34% and a net margin of 8.55%. On average, equities analysts predict that Shell PLC Unsponsored ADR will post 10.36 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on SHEL shares. HSBC raised Shell from a "hold" rating to a "buy" rating in a research report on Monday, May 18th. TD Cowen reissued a "buy" rating on shares of Shell in a report on Thursday, July 2nd. Piper Sandler upped their price target on shares of Shell from $88.00 to $89.00 and gave the stock a "neutral" rating in a report on Monday, August 3rd. Weiss Ratings upgraded shares of Shell from a "buy (b-)" rating to a "buy (b)" rating in a research report on Tuesday, July 28th. Finally, Zacks Research downgraded shares of Shell from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 25th. Five analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company. Based on data from MarketBeat, Shell presently has an average rating of "Hold" and a consensus target price of $106.77.

Shell Company Profile

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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