Shell PLC Unsponsored ADR $SHEL Stock: Fisher Asset Management LLC Cuts Position

Key Points

• Fisher Asset Management trimmed its Shell stake by 1.1%, selling 302,119 shares in the third quarter, but still held 27.3 million shares valued at about $2.60 billion.
• Shell reported quarterly earnings of $3.86 per share, beating the $3.60 analyst consensus, while revenue of $92.85 billion fell slightly short of estimates. The board also approved a $5 billion share repurchase plan.
• Analysts’ consensus rating was “Moderate Buy,” with a consensus price target of $107.08; 28.6% of Shell shares were held by hedge funds and other institutional investors.

Fisher Asset Management LLC decreased its position in shares of Shell PLC Unsponsored ADR (NYSE:SHEL - Free Report) by 1.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,331,036 shares of the energy company's stock after selling 302,119 shares during the period. Fisher Asset Management LLC owned about 0.95% of Shell worth $2,597,815,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Bank of America Corp DE increased its holdings in Shell by 1.9% in the second quarter. Bank of America Corp DE now owns 7,709,715 shares of the energy company's stock valued at $597,811,000 after buying an additional 146,988 shares during the last quarter. Envestnet Asset Management Inc. raised its stake 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. Palogic Value Management L.P. lifted its holdings in Shell by 31.4% during the 2nd quarter. Palogic Value Management L.P. now owns 54,698 shares of the energy company's stock worth $4,241,000 after buying an additional 13,080 shares during the last quarter. IFP Advisors Inc lifted its holdings in Shell by 86.6% during the 3rd quarter. IFP Advisors Inc now owns 25,800 shares of the energy company's stock worth $2,452,000 after buying an additional 11,974 shares during the last quarter. Finally, Diversify Advisory Services LLC acquired a new position in shares of Shell during the 2nd quarter worth about $854,000. 28.60% of the stock is currently owned by hedge funds and other institutional investors.

Shell Trading Up 0.8%

SHEL opened at $98.61 on Friday. The firm has a market cap of $282.48 billion, a price-to-earnings ratio of 8.56, a price-to-earnings-growth ratio of 0.81 and a beta of 0.07. Shell PLC Unsponsored ADR has a 52 week low of $68.63 and a 52 week high of $109.37. The business's 50 day moving average is $99.56 and its two-hundred day moving average is $89.38. 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 posted its quarterly earnings data on Thursday, October 29th. The energy company reported $3.86 earnings per share for the quarter, beating the consensus estimate of $3.60 by $0.26. The business had revenue of $92.85 billion during 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%. On average, research analysts predict that Shell PLC Unsponsored ADR will post 12.46 EPS for the current year.

Shell declared that its board has approved a share repurchase plan on Thursday, October 29th that allows the company to buy back $5 billion in shares. This repurchase authorization allows the energy company to buy up to 1.7% of its shares through open market purchases. Stock repurchase plans are generally an indication that the company's board of directors believes its shares are undervalued.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Jefferies Financial Group reiterated a "buy" rating on shares of Shell in a report on Thursday, October 29th. HSBC reaffirmed a "buy" rating on shares of Shell in a report on Friday, September 25th. JPMorgan Chase & Co. reissued a "buy" rating on shares of Shell in a report on Wednesday, October 21st. Wall Street Zen upgraded shares of Shell from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 8th. Finally, Zacks Research upgraded shares of Shell from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, October 6th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat, Shell presently has a consensus rating of "Moderate Buy" and a consensus target price of $107.08.

Shell Profile

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.

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