Shell PLC Unsponsored ADR $SHEL Shares Sold by Lockheed Martin Investment Management Co.

Key Points

• Lockheed Martin Investment Management cut its Shell stake by 86.8% in the third quarter, selling 62,850 shares and retaining 9,550 shares valued at about $908,000. Other institutional investors increased their holdings; institutions collectively own 28.6% of the stock.
• Shell reported quarterly EPS of $3.86, above the $3.60 consensus, while revenue of $92.85 billion was slightly below estimates. Its board also authorized a $5 billion share-repurchase program.
• Analysts’ consensus rating is “Moderate Buy”, with an average price target of $107.08; shares opened at $98.78 in the article’s cited session.

Lockheed Martin Investment Management Co. cut its position in shares of Shell PLC Unsponsored ADR (NYSE:SHEL - Free Report) by 86.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 9,550 shares of the energy company's stock after selling 62,850 shares during the quarter. Lockheed Martin Investment Management Co.'s holdings in Shell were worth $908,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Engineers Gate Manager LP boosted its stake in Shell by 300.7% during 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. Waverly Advisors LLC raised its position in Shell by 307.1% in the second quarter. Waverly Advisors LLC now owns 407,847 shares of the energy company's stock worth $31,624,000 after acquiring an additional 307,671 shares in the last quarter. Cibc World Market Inc. lifted its holdings in Shell by 66.3% in the 2nd quarter. Cibc World Market Inc. now owns 586,039 shares of the energy company's stock valued at $45,441,000 after acquiring an additional 233,634 shares during the last quarter. Van ECK Associates Corp lifted its holdings in Shell by 44.3% in the 2nd quarter. Van ECK Associates Corp now owns 643,152 shares of the energy company's stock valued at $49,870,000 after acquiring an additional 197,551 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in shares of Shell by 7.9% during the 2nd quarter. Envestnet Asset Management Inc. now owns 2,352,694 shares of the energy company's stock valued at $182,425,000 after purchasing an additional 171,873 shares in the last quarter. Institutional investors own 28.60% of the company's stock.

Shell Price Performance

Shares of NYSE:SHEL opened at $98.78 on Tuesday. The company's fifty day moving average is $99.24 and its two-hundred day moving average is $89.01. The company has a market cap of $282.98 billion, a P/E ratio of 8.57, a price-to-earnings-growth ratio of 0.86 and a beta of 0.07. Shell PLC Unsponsored ADR has a 12-month low of $68.63 and a 12-month high of $109.37. The company has a quick ratio of 1.09, a current ratio of 1.38 and a debt-to-equity ratio of 0.34.

Shell (NYSE:SHEL - Get Free Report) last issued its quarterly earnings results on Thursday, October 29th. The energy company reported $3.86 earnings per share for the quarter, beating analysts' consensus estimates of $3.60 by $0.26. The business had revenue of $92.85 billion for the quarter, compared to the consensus estimate of $93.25 billion. Shell had a return on equity of 16.86% and a net margin of 9.96%. Equities analysts expect that Shell PLC Unsponsored ADR will post 12.29 earnings per share for the current fiscal year.

Shell declared that its board has authorized a stock repurchase program on Thursday, October 29th that allows the company to repurchase $5 billion in outstanding shares. This buyback authorization allows the energy company to purchase up to 1.7% of its stock through open market purchases. Share buyback programs are generally a sign that the company's leadership believes its stock is undervalued.

Analyst Ratings Changes

SHEL has been the topic of several recent research reports. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Shell in a research note on Monday, November 2nd. Morgan Stanley raised shares of Shell from an "equal weight" rating to an "overweight" rating and increased their target price for the company from $81.60 to $101.30 in a research note on Thursday, September 3rd. Erste Group Bank upgraded shares of Shell from a "hold" rating to a "buy" rating in a research report on Thursday, August 27th. Barclays reaffirmed an "overweight" rating on shares of Shell in a report on Monday, October 5th. Finally, Mizuho set a $103.00 price objective on Shell in a research note on Monday, October 12th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and eight have given a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $107.08.

About Shell

Shell plc is a global energy company engaged in the exploration and production of oil and natural gas, natural gas liquefaction and marketing, and the refining and sale of fuels and other products. Its businesses also include chemicals, power and energy solutions, including lower-carbon offerings such as biofuels, hydrogen and electric-vehicle charging.

The company serves customers and operates across regions worldwide. Its products and services reach consumers, businesses and industrial customers through activities such as fuel retailing, natural gas supply, chemicals production and energy trading.

Shell traces its history to the 1907 merger of Royal Dutch Petroleum and the U.K.'s Shell Transport and Trading Company.

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