Shell PLC Unsponsored ADR $SHEL Shares Bought by Bank of America Corp DE

Key Points

• Bank of America increased its Shell stake by 1.9% in the second quarter, adding 146,988 shares to hold 7.71 million shares valued at approximately $597.8 million. Institutional investors collectively own 28.6% of Shell.
• Shell reported quarterly earnings of $3.52 per share, beating analysts’ $3.23 estimate, while revenue of $94.66 billion exceeded expectations of $86.22 billion.
• Shell shares opened at $98.91, near their 52-week high of $99.16. Analysts maintain a consensus “Hold” rating with an average price target of $107.46, although several firms recently raised their targets or upgraded the stock.

Bank of America Corp DE raised its stake in Shell PLC Unsponsored ADR (NYSE:SHEL - Free Report) by 1.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,709,715 shares of the energy company's stock after purchasing an additional 146,988 shares during the quarter. Bank of America Corp DE owned 0.28% of Shell worth $597,811,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of SHEL. Financial Management Professionals Inc. raised its holdings in Shell by 2.9% during the second quarter. Financial Management Professionals Inc. now owns 4,800 shares of the energy company's stock worth $372,000 after purchasing an additional 137 shares in the last quarter. Cornerstone Planning Group LLC boosted its holdings in Shell by 14.1% in the 1st quarter. Cornerstone Planning Group LLC now owns 1,215 shares of the energy company's stock valued at $109,000 after purchasing an additional 150 shares in the last quarter. Denali Advisors LLC increased its position in Shell by 1.7% during the 2nd quarter. Denali Advisors LLC now owns 10,935 shares of the energy company's stock worth $848,000 after purchasing an additional 182 shares during the period. Kilter Group LLC raised its stake in shares of Shell by 83.1% during the 2nd quarter. Kilter Group LLC now owns 498 shares of the energy company's stock worth $39,000 after buying an additional 226 shares in the last quarter. Finally, SVB Wealth LLC grew its holdings in Shell by 5.6% during the first quarter. SVB Wealth LLC now owns 4,643 shares of the energy company's stock worth $432,000 after acquiring an additional 246 shares during the period. Hedge funds and other institutional investors own 28.60% of the company's stock.

Shell Stock Performance

NYSE SHEL opened at $98.91 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. Shell PLC Unsponsored ADR has a fifty-two week low of $68.63 and a fifty-two week high of $99.16. The business has a fifty day moving average of $90.15 and a 200-day moving average of $87.67. The stock has a market cap of $277.29 billion, a price-to-earnings ratio of 10.92, a price-to-earnings-growth ratio of 0.82 and a beta of 0.05.

Shell (NYSE:SHEL - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $94.66 billion during the quarter, compared to analysts' expectations of $86.22 billion. As a group, analysts predict that Shell PLC Unsponsored ADR will post 10.84 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SHEL has been the topic of a number of recent analyst reports. Morgan Stanley set a $101.30 price target on shares of Shell and gave the stock an "overweight" rating in a research note on Thursday, September 3rd. Erste Group Bank raised shares of Shell from a "hold" rating to a "buy" rating in a report on Thursday, August 27th. Piper Sandler boosted their price target on Shell from $89.00 to $100.00 and gave the stock a "neutral" rating in a research note on Thursday, September 3rd. Weiss Ratings upgraded Shell from a "buy (b-)" rating to a "buy (b)" rating in a report on Tuesday, July 28th. Finally, Jefferies Financial Group boosted their target price on Shell to $122.40 and gave the stock a "buy" rating in a research report on Thursday, May 21st. Seven investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price 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.

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