Shell (NYSE:SHEL) Sets New 12-Month High – Here’s Why

Shell PLC Unsponsored ADR (NYSE:SHEL)’s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $97.34 and last traded at $97.2730, with a volume of 168984 shares. The stock had previously closed at $96.77.

Analysts Set New Price Targets

Several equities research analysts have issued reports on SHEL shares. Morgan Stanley set a $101.30 price objective on shares of Shell and gave the stock an “overweight” rating in a research note on Thursday, September 3rd. Mizuho began 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. Wells Fargo & Company increased their price target on Shell from $100.00 to $105.00 and gave the company an “equal weight” rating in a report on Friday, July 31st. Wall Street Zen upgraded Shell from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 8th. Finally, HSBC upgraded Shell from a “hold” rating to a “buy” rating in a research note on Monday, May 18th. Seven analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $107.46.

Shell Stock Up 0.5%

The company has a quick ratio of 1.12, a current ratio of 1.43 and a debt-to-equity ratio of 0.36. The firm has a 50 day moving average price of $89.44 and a two-hundred day moving average price of $87.44. The company has a market capitalization of $272.59 billion, a price-to-earnings ratio of 10.72, a P/E/G ratio of 0.83 and a beta of 0.05.

Shell (NYSE:SHEL) last issued its quarterly earnings results on Friday, July 31st. The energy company reported $3.52 EPS for the quarter, beating analysts’ consensus estimates of $3.23 by $0.29. Shell had a return on equity of 14.34% and a net margin of 8.55%.The firm had revenue of $94.66 billion during the quarter, compared to the consensus estimate of $86.22 billion. As a group, sell-side analysts expect that Shell PLC Unsponsored ADR will post 10.84 earnings per share for the current year.

Institutional Trading of Shell

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Engineers Gate Manager LP grew its holdings in Shell by 300.7% during the 2nd quarter. Engineers Gate Manager LP now owns 840,770 shares of the energy company’s stock worth $65,193,000 after acquiring an additional 630,948 shares in the last quarter. Waverly Advisors LLC increased its holdings in Shell by 307.1% in the second quarter. Waverly Advisors LLC now owns 407,847 shares of the energy company’s stock valued at $31,624,000 after buying an additional 307,671 shares during the last quarter. Cibc World Market Inc. raised its stake in Shell by 66.3% during the second quarter. Cibc World Market Inc. now owns 586,039 shares of the energy company’s stock valued at $45,441,000 after buying an additional 233,634 shares in the last quarter. Van ECK Associates Corp lifted its holdings in 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 during the last quarter. Finally, Cullen Capital Management LLC grew its position in shares of Shell by 50.0% in the 2nd quarter. Cullen Capital Management LLC now owns 448,464 shares of the energy company’s stock worth $34,774,000 after acquiring an additional 149,430 shares in the last quarter. Institutional investors own 28.60% of the company’s stock.

About Shell

Shell plc is a global energy company headquartered in London, United Kingdom. Its operations span the exploration, production, processing, trading and marketing of energy resources, including crude oil, natural gas and liquefied natural gas (LNG).

The company also operates refineries, petrochemical and chemical businesses, fuel stations and other energy-marketing activities. Through its Energy Solutions operations, Shell provides renewable power, electric-vehicle charging, energy-efficiency services and lower-carbon fuels, while continuing to develop technologies and projects intended to reduce emissions from energy production and use.

Shell traces its history to the Royal Dutch Petroleum Company and the Shell Transport and Trading Company, which combined their operations in 1907.