Thornburg Investment Management Inc. Increases Stock Holdings in Shell PLC Unsponsored ADR $SHEL

Key Points

• Thornburg Investment Management doubled its Shell stake in the second quarter, purchasing 114,162 additional shares for a total of 228,036 shares valued at approximately $17.7 million.
• Shell reported quarterly earnings of $3.52 per share, exceeding estimates of $3.23, while revenue reached $94.66 billion versus the $86.22 billion consensus forecast.
• Despite several bullish analyst views, Shell carries an overall “Hold” rating, with six Buy ratings and twelve Holds and an average price target of $106.77.

Thornburg Investment Management Inc. increased its stake in Shell PLC Unsponsored ADR (NYSE:SHEL - Free Report) by 100.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 228,036 shares of the energy company's stock after buying an additional 114,162 shares during the quarter. Thornburg Investment Management Inc.'s holdings in Shell were worth $17,682,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in SHEL. Brighton Jones LLC lifted its stake in shares of Shell by 51.7% during the 4th quarter. Brighton Jones LLC now owns 7,463 shares of the energy company's stock worth $468,000 after acquiring an additional 2,545 shares during the last quarter. AQR Capital Management LLC increased its holdings in Shell by 70.1% during the 1st quarter. AQR Capital Management LLC now owns 32,564 shares of the energy company's stock worth $2,386,000 after purchasing an additional 13,419 shares during the period. IHT Wealth Management LLC raised its position in Shell by 31.6% during the 2nd quarter. IHT Wealth Management LLC now owns 11,900 shares of the energy company's stock valued at $838,000 after purchasing an additional 2,857 shares in the last quarter. Captrust Financial Advisors increased its stake in shares of Shell by 5.5% during the second quarter. Captrust Financial Advisors now owns 137,086 shares of the energy company's stock valued at $9,652,000 after buying an additional 7,179 shares during the period. Finally, Horizon Investments LLC raised its holdings in shares of Shell by 6.4% in the third quarter. Horizon Investments LLC now owns 3,521 shares of the energy company's stock valued at $252,000 after acquiring an additional 211 shares in the last quarter. Hedge funds and other institutional investors own 28.60% of the company's stock.

Shell Trading Up 0.2%

Shares of Shell stock opened at $90.91 on Friday. The firm's 50 day simple moving average is $86.20 and its two-hundred day simple moving average is $86.34. The firm has a market capitalization of $254.87 billion, a price-to-earnings ratio of 10.03, a PEG ratio of 0.60 and a beta of 0.05. Shell PLC Unsponsored ADR has a 12-month low of $68.63 and a 12-month 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.

Shell (NYSE:SHEL - Get Free Report) last posted its quarterly earnings results on Friday, July 31st. The energy company reported $3.52 earnings per share for the quarter, beating the consensus estimate of $3.23 by $0.29. Shell had a return on equity of 14.34% and a net margin of 8.55%.The business had revenue of $94.66 billion for the quarter, compared to the consensus estimate of $86.22 billion. Analysts predict that Shell PLC Unsponsored ADR will post 10.38 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. TD Cowen reissued a "buy" rating on shares of Shell in a research report on Thursday, July 2nd. Jefferies Financial Group lifted their price objective on shares of Shell to $122.40 and gave the company a "buy" rating in a report on Thursday, May 21st. Piper Sandler upped their target price on Shell from $88.00 to $89.00 and gave the stock a "neutral" rating in a report on Monday, August 3rd. HSBC raised Shell from a "hold" rating to a "buy" rating in a research report on Monday, May 18th. Finally, Mizuho began coverage on Shell in a research report on Monday, July 20th. They issued a "neutral" rating and a $98.00 price target for the company. Six equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $106.77.

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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source