Shell PLC Unsponsored ADR $SHEL Shares Sold by Tocqueville Asset Management L.P.

Key Points

• Tocqueville Asset Management cut its Shell position by 34.6% in the second quarter, selling 49,775 shares and retaining 94,085 shares valued at approximately $7.3 million.
• Shell reported quarterly earnings of $3.52 per share, beating estimates of $3.23, while revenue of $94.66 billion also exceeded expectations. Institutional investors own about 28.6% of the stock.
• Shell shares recently traded near $92.74, close to their 52-week high, but analysts maintain a consensus “Hold” rating with an average price target of $106.77.

Tocqueville Asset Management L.P. cut its position in shares of Shell PLC Unsponsored ADR (NYSE:SHEL - Free Report) by 34.6% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 94,085 shares of the energy company's stock after selling 49,775 shares during the quarter. Tocqueville Asset Management L.P.'s holdings in Shell were worth $7,295,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in SHEL. Great Lakes Advisors LLC raised its holdings in shares of Shell by 2.3% in the second quarter. Great Lakes Advisors LLC now owns 385,622 shares of the energy company's stock worth $29,901,000 after acquiring an additional 8,659 shares during the last quarter. Allied Investment Advisors LLC grew its holdings in Shell by 2.5% in the 4th quarter. Allied Investment Advisors LLC now owns 196,452 shares of the energy company's stock valued at $14,435,000 after buying an additional 4,720 shares during the period. Captrust Financial Advisors increased its position in Shell by 30.4% during the fourth quarter. Captrust Financial Advisors now owns 180,630 shares of the energy company's stock worth $13,273,000 after purchasing an additional 42,129 shares during the last quarter. Adell Harriman & Carpenter Inc. raised its position in shares of Shell by 4.7% in the 4th quarter. Adell Harriman & Carpenter Inc. now owns 156,733 shares of the energy company's stock worth $11,517,000 after buying an additional 7,083 shares during the period. Finally, SouthState Bank Corp lifted its stake in shares of Shell by 1.3% in the 4th quarter. SouthState Bank Corp now owns 84,933 shares of the energy company's stock valued at $6,241,000 after purchasing an additional 1,060 shares in the last quarter. 28.60% of the stock is currently owned by hedge funds and other institutional investors.

Shell Price Performance

NYSE SHEL opened at $92.74 on Thursday. The stock's 50-day moving average price is $84.78 and its two-hundred day moving average price is $85.64. Shell PLC Unsponsored ADR has a 1 year low of $68.63 and a 1 year high of $94.90. 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 company has a market cap of $260.00 billion, a PE ratio of 10.24, a PEG ratio of 0.60 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 earnings per share for the quarter, topping the consensus estimate of $3.23 by $0.29. The firm had revenue of $94.66 billion for the quarter, compared to analysts' expectations of $86.22 billion. Shell had a net margin of 8.55% and a return on equity of 14.34%. On average, analysts predict that Shell PLC Unsponsored ADR will post 10.36 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have commented on SHEL shares. Mizuho initiated coverage on Shell in a research report on Monday, July 20th. They issued a "neutral" rating and a $98.00 price objective on the stock. Scotiabank upped their price target on shares of Shell from $91.00 to $122.00 and gave the company a "sector outperform" rating in a report on Wednesday, April 22nd. HSBC upgraded Shell from a "hold" rating to a "buy" rating in a research report on Monday, May 18th. Piper Sandler lifted their price target on shares of Shell from $88.00 to $89.00 and gave the company a "neutral" rating in a report on Monday, August 3rd. Finally, Erste Group Bank restated a "hold" rating on shares of Shell in a research note on Tuesday, May 5th. Five analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $106.77.

Shell News Roundup

Here are the key news stories impacting Shell this week:

• Positive Sentiment: Shell’s unit signed engineering, procurement and construction (EPC) and operations-and-maintenance contracts for the 30-MW/60-MWh Bataan battery project. The agreements advance the project toward construction and long-term operation, supporting Shell’s power and energy-transition businesses, although the immediate earnings impact is likely limited. Shell's Unit Signs EPC and O&M Contracts for Bataan Battery Project
• Positive Sentiment: Shell is partnering with McDonald’s to use the restaurant chain’s loyalty base to drive more fuel-station visits and rewards sign-ups. Increased customer traffic and loyalty engagement could support fuel volumes and convenience-store sales. Shell taps McDonald’s loyalty base to drive fuel trips, rewards sign-ups
• Neutral Sentiment: A Seeking Alpha analysis says Shell appears inexpensive, but argues the valuation is not compelling enough to warrant a buy recommendation and maintains a “hold” view. The assessment may limit bullish sentiment despite Shell’s low earnings multiple and recent strong financial performance. Shell Looks Cheap, But Not Compelling Enough To Buy

Shell 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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