Brokerages Set Shell PLC Unsponsored ADR (NYSE:SHEL) Price Target at $98.19

Shell PLC Unsponsored ADR (NYSE:SHEL) has earned a consensus recommendation of “Hold” from the nineteen brokerages that are currently covering the stock, MarketBeat.com reports. Fourteen research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $98.1889.

Several brokerages have recently issued reports on SHEL. Wall Street Zen upgraded shares of Shell from a “hold” rating to a “buy” rating in a research note on Saturday, July 25th. Zacks Research downgraded Shell from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 25th. TD Cowen reissued a “buy” rating on shares of Shell in a research report on Thursday, July 2nd. Mizuho began coverage on Shell in a research note on Monday, July 20th. They issued a “neutral” rating and a $98.00 target price on the stock. Finally, Weiss Ratings upgraded Shell from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday.

Shell News Roundup

Here are the key news stories impacting Shell this week:

• Positive Sentiment: Adjusted earnings more than doubled. Shell reported second-quarter adjusted earnings of $9.84 billion, up from $6.92 billion in the first quarter and $4.26 billion a year earlier. The result exceeded analysts’ roughly $8.92 billion consensus, while net income attributable to shareholders reached $10.82 billion. Shell more than doubles its profit in Q2, beating expectations
• Positive Sentiment: Broad-based operational performance reinforced the earnings beat. Management cited record performances across its business, including higher commodity prices, improved refining margins and strong trading activity. Shell also increased refinery utilization to capitalize on the oil-price surge. Oil giant Shell smashes expectations as profits more than double in second quarter
• Positive Sentiment: Shareholder returns remain substantial. Shell announced a new $3 billion share-repurchase program, in addition to approximately $1.2 billion remaining from its prior authorization, and declared a quarterly interim dividend of $0.3906 per ordinary share. Shell plans buybacks as profits soar
• Positive Sentiment: Longer-term production potential improved modestly. Shell announced an oil discovery at Egypt’s deepest-ever Mediterranean offshore well, though commercial development studies are still pending. Shell discovers oil at Mediterranean offshore well
• Neutral Sentiment: Investors should assess the quality of the earnings surge. Much of the improvement reflects unusually high oil prices and volatility associated with the Iran conflict, creating potential concerns about sustainability if geopolitical premiums or commodity prices decline. Shell also faced disruption in Qatar. Shell stock rises after Q2 earnings

Institutional Trading of Shell

A number of hedge funds and other institutional investors have recently made changes to their positions in SHEL. Colonial Trust Advisors boosted its stake in shares of Shell by 9.5% during the 4th quarter. Colonial Trust Advisors now owns 1,488 shares of the energy company’s stock valued at $109,000 after buying an additional 129 shares during the last quarter. Financial Management Professionals Inc. grew its holdings in Shell by 2.9% during the 2nd quarter. Financial Management Professionals Inc. now owns 4,800 shares of the energy company’s stock worth $372,000 after acquiring an additional 137 shares in the last quarter. Cornerstone Planning Group LLC raised its stake in shares of Shell by 14.1% in the 1st quarter. Cornerstone Planning Group LLC now owns 1,215 shares of the energy company’s stock valued at $109,000 after purchasing an additional 150 shares in the last quarter. LRI Investments LLC grew its stake in Shell by 25.1% in the fourth quarter. LRI Investments LLC now owns 846 shares of the energy company’s stock worth $62,000 after purchasing an additional 170 shares in the last quarter. Finally, NBC Securities Inc. increased its stake in Shell by 1.9% during the fourth quarter. NBC Securities Inc. now owns 9,552 shares of the energy company’s stock valued at $702,000 after purchasing an additional 176 shares during the last quarter. 28.60% of the stock is currently owned by institutional investors.

Shell Trading Up 2.4%

NYSE SHEL opened at $90.48 on Tuesday. The business’s fifty day moving average is $83.41 and its 200-day moving average is $84.01. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.27 and a quick ratio of 0.97. The stock has a market capitalization of $253.66 billion, a price-to-earnings ratio of 14.09, a PEG ratio of 0.59 and a beta of 0.06. Shell has a one year low of $68.63 and a one year high of $94.90.

Shell (NYSE:SHEL) last posted its quarterly earnings results on Thursday, July 30th. The energy company reported $3.52 earnings per share for the quarter, beating the consensus estimate of $3.23 by $0.29. The company had revenue of $94.66 billion during the quarter, compared to analyst estimates of $86.22 billion. Shell had a net margin of 6.85% and a return on equity of 11.18%. Equities research analysts predict that Shell will post 9.81 EPS for the current year.

About Shell

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.