9,775 Shares of Shell PLC Unsponsored ADR $SHEL Bought by Formidable Asset Management LLC

Formidable Asset Management LLC bought a new stake in Shell PLC Unsponsored ADR (NYSE:SHEL) during the third quarter, HoldingsChannel reports. The firm bought 9,775 shares of the energy company’s stock, valued at approximately $929,000.

Other large investors also recently bought and sold shares of the company. Bank of America Corp DE increased 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 valued at $597,811,000 after acquiring an additional 146,988 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in 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 purchasing an additional 171,873 shares during the last quarter. First Eagle Investment Management LLC boosted its position in shares of Shell by 1.5% during the second quarter. First Eagle Investment Management LLC now owns 1,073,265 shares of the energy company’s stock worth $83,221,000 after buying an additional 16,244 shares during the period. Engineers Gate Manager LP increased its holdings in shares of Shell by 300.7% during the second quarter. Engineers Gate Manager LP now owns 840,770 shares of the energy company’s stock valued at $65,193,000 after purchasing an additional 630,948 shares during the period. Finally, 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 buying an additional 38,212 shares in the last quarter. Institutional investors own 28.60% of the company’s stock.

Shell Trading Down 0.1%

NYSE SHEL opened at $99.03 on Monday. The firm’s 50 day moving average price is $99.09 and its two-hundred day moving average price is $88.88. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.09 and a current ratio of 1.38. Shell PLC Unsponsored ADR has a twelve month low of $68.63 and a twelve month high of $109.37. The stock has a market cap of $283.71 billion, a price-to-earnings ratio of 8.60, a PEG ratio of 0.83 and a beta of 0.07.

Shell (NYSE:SHEL) last released its earnings results on Thursday, October 29th. The energy company reported $3.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.60 by $0.26. Shell had a return on equity of 16.86% and a net margin of 9.96%. The company had revenue of $92.85 billion during the quarter, compared to analyst estimates of $93.25 billion. Equities analysts anticipate that Shell PLC Unsponsored ADR will post 12.29 EPS for the current year.

Shell announced that its Board of Directors has initiated a share repurchase plan on Thursday, October 29th that authorizes the company to repurchase $5 billion in outstanding shares. This buyback authorization authorizes the energy company to purchase up to 1.7% of its stock through open market purchases. Share buyback plans are typically an indication that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

Several research analysts have recently issued reports on SHEL shares. Piper Sandler increased their price objective on shares of Shell from $89.00 to $100.00 and gave the company a “neutral” rating in a report on Thursday, September 3rd. Mizuho set a $103.00 price target on shares of Shell in a research report on Monday, October 12th. Berenberg Bank restated a “buy” rating on shares of Shell in a research report on Monday, August 3rd. HSBC reaffirmed a “buy” rating on shares of Shell in a report on Friday, September 25th. Finally, Wells Fargo & Company lifted their target price on Shell from $105.00 to $116.00 and gave the stock an “equal weight” rating in a report on Friday, October 30th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $107.08.

About Shell

Shell plc is a global energy company engaged in the exploration and production of oil and natural gas, natural gas liquefaction and marketing, and the refining and sale of fuels and other products. Its businesses also include chemicals, power and energy solutions, including lower-carbon offerings such as biofuels, hydrogen and electric-vehicle charging.

The company serves customers and operates across regions worldwide. Its products and services reach consumers, businesses and industrial customers through activities such as fuel retailing, natural gas supply, chemicals production and energy trading.

Shell traces its history to the 1907 merger of Royal Dutch Petroleum and the U.K.’s Shell Transport and Trading Company.