Wellington Management Group LLP Trims Stake in Shell PLC Unsponsored ADR $SHEL

Key Points

• Wellington Management reduced its Shell stake by 9.9% in the second quarter, selling 631,195 shares and retaining 5.73 million shares worth approximately $444.5 million. Institutional investors collectively own 28.6% of Shell.
• Analyst sentiment remains mixed but improved slightly: Shell received several rating or price-target upgrades, while the overall consensus stayed at “Hold” with an average target price of $106.77.
• Shell shares opened at $90.91, near their 52-week high, and the company recently beat quarterly expectations with EPS of $3.52 versus $3.23 expected and revenue of $94.66 billion versus $86.22 billion forecast.

Wellington Management Group LLP lessened its holdings in shares of Shell PLC Unsponsored ADR (NYSE:SHEL - Free Report) by 9.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,732,160 shares of the energy company's stock after selling 631,195 shares during the period. Wellington Management Group LLP owned about 0.20% of Shell worth $444,472,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of SHEL. Bank of America Corp DE lifted its stake in shares of Shell by 1.9% during the 2nd quarter. Bank of America Corp DE now owns 7,709,715 shares of the energy company's stock worth $597,811,000 after acquiring an additional 146,988 shares during the last quarter. Jones Financial Companies Lllp grew its position in Shell by 5.2% in the 2nd quarter. Jones Financial Companies Lllp now owns 776,654 shares of the energy company's stock valued at $59,445,000 after acquiring an additional 38,212 shares during the last quarter. Cibc World Market Inc. increased its stake in Shell by 66.3% in the second quarter. Cibc World Market Inc. now owns 586,039 shares of the energy company's stock worth $45,441,000 after purchasing an additional 233,634 shares during the period. Cullen Capital Management LLC lifted its position in shares of Shell by 50.0% during the second quarter. Cullen Capital Management LLC now owns 448,464 shares of the energy company's stock worth $34,774,000 after purchasing an additional 149,430 shares during the last quarter. Finally, Great Lakes Advisors LLC boosted its stake in shares of Shell by 2.3% during the second quarter. Great Lakes Advisors LLC now owns 385,622 shares of the energy company's stock valued at $29,901,000 after purchasing an additional 8,659 shares during the period. 28.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Wall Street Zen raised shares of Shell from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 8th. Piper Sandler upped their target price on shares of Shell from $88.00 to $89.00 and gave the stock a "neutral" rating in a research note on Monday, August 3rd. Wells Fargo & Company raised their target price on shares of Shell from $100.00 to $105.00 and gave the stock an "equal weight" rating in a research report on Friday, July 31st. TD Cowen reiterated a "buy" rating on shares of Shell in a report on Thursday, July 2nd. Finally, Erste Group Bank raised Shell from a "hold" rating to a "buy" rating in a research note on Thursday. Six research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $106.77.

Shell Trading Up 0.2%

NYSE:SHEL opened at $90.91 on Friday. The firm has a 50-day simple moving average of $86.20 and a 200-day simple moving average of $86.34. Shell PLC Unsponsored ADR has a one year low of $68.63 and a one year high of $94.90. The firm has a market cap of $254.87 billion, a P/E ratio of 10.03, a P/E/G ratio of 0.60 and a beta of 0.05. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.12 and a current ratio of 1.43.

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

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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