QRG Capital Management Inc. Has $17.22 Million Stake in Shell PLC Unsponsored ADR $SHEL

Key Points

• QRG Capital Management increased its Shell stake by 10.5% in the second quarter, owning 222,107 shares valued at approximately $17.22 million.
• Other institutional investors also raised their positions, with hedge funds and institutions collectively owning 28.6% of Shell.
• Shell reported quarterly EPS of $3.52, beating estimates, while analysts maintain a consensus “Hold” rating with an average price target of $107.46.

QRG Capital Management Inc. increased its holdings in Shell PLC Unsponsored ADR (NYSE:SHEL - Free Report) by 10.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 222,107 shares of the energy company's stock after acquiring an additional 21,059 shares during the period. QRG Capital Management Inc.'s holdings in Shell were worth $17,222,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bank of America Corp DE boosted its stake 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 period. Envestnet Asset Management Inc. boosted its position in Shell by 7.9% in the second quarter. Envestnet Asset Management Inc. now owns 2,352,694 shares of the energy company's stock valued at $182,425,000 after buying an additional 171,873 shares in the last quarter. First Eagle Investment Management LLC increased its holdings in Shell by 1.5% during the 2nd quarter. First Eagle Investment Management LLC now owns 1,073,265 shares of the energy company's stock valued at $83,221,000 after purchasing an additional 16,244 shares in the last quarter. Engineers Gate Manager LP increased its stake in shares of Shell by 300.7% in the second 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. Finally, Jones Financial Companies Lllp raised its position in Shell by 5.2% in the 2nd quarter. Jones Financial Companies Lllp now owns 776,654 shares of the energy company's stock worth $59,445,000 after purchasing an additional 38,212 shares during the last quarter. 28.60% of the stock is owned by hedge funds and other institutional investors.

Shell Price Performance

Shares of NYSE:SHEL opened at $95.45 on Thursday. The company has a current ratio of 1.43, a quick ratio of 1.12 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $267.59 billion, a PE ratio of 10.54, a PEG ratio of 0.80 and a beta of 0.05. The firm has a 50 day moving average of $91.54 and a 200-day moving average of $88.18. Shell PLC Unsponsored ADR has a 12 month low of $68.63 and a 12 month high of $99.15.

Shell (NYSE:SHEL - Get Free Report) last announced its quarterly earnings data on Friday, July 31st. The energy company reported $3.52 EPS for the quarter, beating the consensus estimate of $3.23 by $0.29. The business had revenue of $94.66 billion during the quarter, compared to the consensus estimate 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 predict that Shell PLC Unsponsored ADR will post 10.89 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. 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 research note on Thursday, September 3rd. Wells Fargo & Company lifted their price objective 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. Mizuho assumed coverage on Shell in a research note on Monday, July 20th. They set a "neutral" rating and a $98.00 price objective on the stock. Morgan Stanley set a $101.30 price target on Shell and gave the stock an "overweight" rating in a research report on Thursday, September 3rd. Finally, Weiss Ratings raised shares of Shell from a "buy (b-)" rating to a "buy (b)" rating in a report on Tuesday, July 28th. Seven analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $107.46.

About Shell

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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