Shell PLC Unsponsored ADR $SHEL Stock Sold by Mawer Investment Management Ltd.

Key Points

• Mawer Investment Management cut its Shell position by 8.0% in the third quarter, selling 637,942 shares. It still held 7.38 million shares worth about $701 million, making Shell its fifth-largest holding.
• Shell reported quarterly EPS of $3.86, topping the $3.60 consensus estimate, while revenue of $92.85 billion fell short of forecasts. Its board also authorized a $5 billion share buyback, covering up to 1.7% of shares.
• Analysts’ consensus rating was Moderate Buy, with an average price target of $107.08. Shell shares traded at $99.07 in Friday’s mid-day session.

Mawer Investment Management Ltd. decreased its position in shares of Shell PLC Unsponsored ADR (NYSE:SHEL - Free Report) by 8.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,375,850 shares of the energy company's stock after selling 637,942 shares during the quarter. Shell comprises 5.1% of Mawer Investment Management Ltd.'s holdings, making the stock its 5th largest holding. Mawer Investment Management Ltd. owned 0.26% of Shell worth $701,075,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of SHEL. Ibex Wealth Advisors grew its position in Shell by 1.9% in the 3rd quarter. Ibex Wealth Advisors now owns 167,296 shares of the energy company's stock valued at $15,901,000 after purchasing an additional 3,104 shares during the period. Valmark Advisers Inc. bought a new stake in Shell during the 3rd quarter valued at $256,000. Allworth Financial LP raised its holdings in Shell by 11.4% during the third quarter. Allworth Financial LP now owns 28,255 shares of the energy company's stock worth $2,686,000 after buying an additional 2,899 shares during the last quarter. Van Strum & Towne Inc. acquired a new position in Shell during the third quarter worth $239,000. Finally, Fifth Third Bancorp lifted its stake in shares of Shell by 2.6% in the third quarter. Fifth Third Bancorp now owns 81,963 shares of the energy company's stock valued at $7,791,000 after buying an additional 2,105 shares in the last quarter. 28.60% of the stock is owned by institutional investors and hedge funds.

Shell Stock Performance

Shares of NYSE SHEL traded up $0.51 during mid-day trading on Friday, reaching $99.07. 3,559,428 shares of the company's stock were exchanged, compared to its average volume of 5,521,416. The firm has a 50-day moving average price of $99.70 and a two-hundred day moving average price of $89.50. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.38 and a quick ratio of 1.09. The firm has a market capitalization of $283.81 billion, a price-to-earnings ratio of 8.60, a price-to-earnings-growth ratio of 0.77 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.

Shell (NYSE:SHEL - Get Free Report) last posted its quarterly earnings results 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. Shell had a net margin of 9.96% and a return on equity of 16.86%. The company had revenue of $92.85 billion during the quarter, compared to analyst estimates of $93.25 billion. Analysts predict that Shell PLC Unsponsored ADR will post 12.58 EPS for the current year.

Shell declared that its board has authorized a share buyback plan on Thursday, October 29th that authorizes the company to buy back $5 billion in shares. This repurchase authorization authorizes the energy company to buy up to 1.7% of its shares through open market purchases. Stock repurchase plans are typically a sign that the company's management believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Mizuho set a $103.00 price objective on shares of Shell in a report on Monday, October 12th. Barclays restated an "overweight" rating on shares of Shell in a report on Monday, October 5th. Wall Street Zen upgraded shares of Shell from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 8th. Piper Sandler raised their price target on shares of Shell from $89.00 to $100.00 and gave the company a "neutral" rating in a research report on Thursday, September 3rd. Finally, JPMorgan Chase & Co. reiterated a "buy" rating on shares of Shell in a research note on Wednesday, October 21st. Two investment 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. According to MarketBeat.com, the company currently has a consensus 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.

Want to see what other hedge funds are holding SHEL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Shell PLC Unsponsored ADR (NYSE:SHEL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.