Woodmont Investment Counsel LLC Buys 11,349 Shares of Shell PLC Unsponsored ADR $SHEL

Key Points

• Woodmont Investment Counsel increased its Shell stake by 162.8% in the third quarter, buying 11,349 additional shares and bringing its holdings to 18,322 shares valued at approximately $1.74 million.
• Analysts maintain a generally positive outlook, with Shell receiving a “Moderate Buy” consensus rating and an average price target of $107.86; institutional investors own 28.6% of the company.
• Shell reported quarterly EPS of $3.86, exceeding estimates, and authorized a $5 billion share buyback covering up to 1.7% of its outstanding shares.

Woodmont Investment Counsel LLC increased its stake in Shell PLC Unsponsored ADR (NYSE:SHEL - Free Report) by 162.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,322 shares of the energy company's stock after buying an additional 11,349 shares during the quarter. Woodmont Investment Counsel LLC's holdings in Shell were worth $1,742,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the company. Bank of America Corp DE lifted its holdings in shares of Shell by 1.9% in 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. Envestnet Asset Management Inc. grew its holdings in Shell by 7.9% during the 2nd quarter. Envestnet Asset Management Inc. now owns 2,352,694 shares of the energy company's stock valued at $182,425,000 after purchasing an additional 171,873 shares during the last quarter. Palogic Value Management L.P. grew 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 valued at $4,241,000 after purchasing an additional 13,080 shares during the last quarter. IFP Advisors Inc raised its position in Shell by 86.6% in the 3rd quarter. IFP Advisors Inc now owns 25,800 shares of the energy company's stock worth $2,452,000 after purchasing an additional 11,974 shares during the period. Finally, Diversify Advisory Services LLC purchased a new stake in Shell in the 2nd quarter worth about $854,000. Institutional investors own 28.60% of the company's stock.

Wall Street Analysts Forecast Growth

SHEL has been the subject of several recent analyst reports. Zacks Research upgraded Shell from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, October 6th. Piper Sandler increased their price target on Shell from $89.00 to $100.00 and gave the stock a "neutral" rating in a report on Thursday, September 3rd. TD Cowen raised their price target on Shell from $107.00 to $115.00 and gave the stock a "buy" rating in a research note on Monday, September 28th. Barclays reissued an "overweight" rating on shares of Shell in a research note on Monday, October 5th. Finally, Wall Street Zen upgraded Shell from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 8th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and nine have assigned a Hold rating to the company's stock. According to MarketBeat, Shell currently has an average rating of "Moderate Buy" and an average price target of $107.86.

Shell Stock Performance

SHEL stock opened at $108.76 on Monday. Shell PLC Unsponsored ADR has a 1-year low of $68.63 and a 1-year high of $109.37. The business has a 50-day moving average price of $98.10 and a 200 day moving average price of $88.17. The company has a market capitalization of $311.57 billion, a P/E ratio of 9.44, a PEG ratio of 0.89 and a beta of 0.07. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.38 and a quick ratio of 1.09.

Shell (NYSE:SHEL - Get Free Report) last issued its earnings results on Friday, October 30th. The energy company reported $3.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.60 by $0.26. The company had revenue of $92.85 billion for the quarter, compared to analysts' expectations of $93.25 billion. Shell had a net margin of 9.96% and a return on equity of 16.86%. As a group, equities research analysts forecast that Shell PLC Unsponsored ADR will post 11.94 EPS for the current fiscal year.

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

Shell Company Profile

Shell plc is a global energy company headquartered in London, England. Its operations span the energy value chain, including the exploration, production, processing, trading and marketing of oil and natural gas. The company is also a major participant in liquefied natural gas (LNG), refining, chemicals and energy-related products.

Shell sells fuels, lubricants and other petroleum products through branded retail and commercial businesses, while also providing services to industrial, marine and aviation customers.

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