Shell PLC Unsponsored ADR $SHEL Holdings Lowered by Pzena Investment Management LLC

Pzena Investment Management LLC decreased its position in Shell PLC Unsponsored ADR (NYSE:SHEL) by 2.6% during the 3rd quarter, Holdings Channel reports. The fund owned 2,513,507 shares of the energy company’s stock after selling 67,737 shares during the quarter. Pzena Investment Management LLC’s holdings in Shell were worth $238,909,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Engineers Gate Manager LP raised its holdings in Shell by 300.7% during the second quarter. Engineers Gate Manager LP now owns 840,770 shares of the energy company’s stock worth $65,193,000 after purchasing an additional 630,948 shares in the last quarter. Waverly Advisors LLC boosted its holdings in Shell by 307.1% in the 2nd quarter. Waverly Advisors LLC now owns 407,847 shares of the energy company’s stock valued at $31,624,000 after purchasing an additional 307,671 shares in the last quarter. Cibc World Market Inc. boosted its holdings in Shell by 66.3% in the 2nd quarter. Cibc World Market Inc. now owns 586,039 shares of the energy company’s stock valued at $45,441,000 after purchasing an additional 233,634 shares in the last quarter. Van ECK Associates Corp raised its stake in shares of Shell by 44.3% during the 2nd quarter. Van ECK Associates Corp now owns 643,152 shares of the energy company’s stock worth $49,870,000 after buying an additional 197,551 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in shares of Shell by 7.9% in 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 buying an additional 171,873 shares during the period. 28.60% of the stock is currently owned by institutional investors and hedge funds.

Shell Stock Down 2.3%

Shell stock opened at $101.76 on Thursday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.09 and a current ratio of 1.38. The firm has a market capitalization of $291.51 billion, a price-to-earnings ratio of 8.83, a price-to-earnings-growth ratio of 0.87 and a beta of 0.07. Shell PLC Unsponsored ADR has a fifty-two week low of $68.63 and a fifty-two week high of $109.37. The stock’s fifty day moving average is $98.74 and its two-hundred day moving average is $88.62.

Shell (NYSE:SHEL) last released its quarterly earnings results on Thursday, October 29th. The energy company reported $3.86 earnings per share (EPS) for the quarter, topping 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%. Analysts predict that Shell PLC Unsponsored ADR will post 12.32 EPS for the current fiscal year.

Shell announced that its board has approved a stock 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 purchase up to 1.7% of its shares through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

A number of analysts recently weighed in on SHEL shares. Jefferies Financial Group restated a “buy” rating on shares of Shell in a research note on Thursday, October 29th. Wall Street Zen raised Shell from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 8th. Piper Sandler boosted their target price on shares of Shell from $89.00 to $100.00 and gave the stock a “neutral” rating in a research report on Thursday, September 3rd. Erste Group Bank raised shares of Shell from a “hold” rating to a “buy” rating in a research note on Thursday, August 27th. Finally, HSBC reiterated a “buy” rating on shares of Shell in a report on Friday, September 25th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $107.08.

Shell 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.