Bank of Nova Scotia Boosts Stake in Shell PLC Unsponsored ADR $SHEL

Bank of Nova Scotia raised its position in shares of Shell PLC Unsponsored ADR (NYSE:SHEL) by 493.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,790 shares of the energy company’s stock after acquiring an additional 14,790 shares during the period. Bank of Nova Scotia’s holdings in Shell were worth $1,379,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Colonial Trust Advisors increased its stake in Shell by 9.5% during the fourth quarter. Colonial Trust Advisors now owns 1,488 shares of the energy company’s stock worth $109,000 after acquiring an additional 129 shares during the last quarter. Financial Management Professionals Inc. boosted its stake in Shell by 2.9% during the second quarter. Financial Management Professionals Inc. now owns 4,800 shares of the energy company’s stock worth $372,000 after buying an additional 137 shares during the period. Cornerstone Planning Group LLC raised its stake in shares of Shell by 14.1% in the first quarter. Cornerstone Planning Group LLC now owns 1,215 shares of the energy company’s stock valued at $109,000 after acquiring an additional 150 shares during the period. LRI Investments LLC grew its holdings in Shell by 25.1% during the 4th quarter. LRI Investments LLC now owns 846 shares of the energy company’s stock valued at $62,000 after purchasing an additional 170 shares during the last quarter. Finally, Horizon Investments LLC boosted its position in shares of Shell by 5.2% during the fourth quarter. Horizon Investments LLC now owns 3,703 shares of the energy company’s stock valued at $272,000 after buying an additional 182 shares during the period. 28.60% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SHEL has been the topic of a number of research analyst reports. Jefferies Financial Group upped their price target on shares of Shell to $122.40 and gave the stock a “buy” rating in a report on Thursday, May 21st. Weiss Ratings upgraded Shell from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, July 28th. Wells Fargo & Company upped their price target 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. Wall Street Zen upgraded Shell from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 8th. Finally, Mizuho started coverage on shares of Shell in a research report on Monday, July 20th. They set a “neutral” rating and a $98.00 price target for the company. Five equities research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company. Based on data from MarketBeat.com, Shell currently has an average rating of “Hold” and a consensus target price of $106.77.

Shell Stock Performance

Shares of SHEL opened at $91.14 on Thursday. Shell PLC Unsponsored ADR has a one year low of $68.63 and a one year high of $94.90. The stock has a market cap of $255.51 billion, a P/E ratio of 10.06, 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. The stock has a 50-day moving average of $85.72 and a two-hundred day moving average of $86.20.

Shell (NYSE:SHEL) last posted its quarterly earnings results on Friday, July 31st. The energy company reported $3.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.23 by $0.29. Shell had a net margin of 8.55% and a return on equity of 14.34%. The company had revenue of $94.66 billion during the quarter, compared to analyst estimates of $86.22 billion. As a group, research analysts predict that Shell PLC Unsponsored ADR will post 10.36 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.