Shell plc (NYSE:SHEL) Shares Purchased by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. boosted its position in Shell plc (NYSE:SHEL) by 24.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 132,582 shares of the energy company’s stock after purchasing an additional 25,635 shares during the period. Pinnacle Associates Ltd.’s holdings in Shell were worth $8,724,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in SHEL. Dimensional Fund Advisors LP lifted its position in shares of Shell by 0.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 22,722,317 shares of the energy company’s stock valued at $1,640,082,000 after acquiring an additional 96,549 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Shell by 13.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,715,078 shares of the energy company’s stock valued at $450,180,000 after acquiring an additional 772,736 shares during the last quarter. Westwood Global Investments LLC lifted its position in shares of Shell by 4.1% during the 2nd quarter. Westwood Global Investments LLC now owns 2,546,523 shares of the energy company’s stock valued at $183,808,000 after acquiring an additional 100,379 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Shell by 6.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 2,248,366 shares of the energy company’s stock valued at $162,287,000 after acquiring an additional 136,139 shares during the last quarter. Finally, Mondrian Investment Partners LTD lifted its position in shares of Shell by 83.2% during the 1st quarter. Mondrian Investment Partners LTD now owns 2,187,872 shares of the energy company’s stock valued at $146,675,000 after acquiring an additional 993,342 shares during the last quarter. 28.60% of the stock is currently owned by institutional investors and hedge funds.

Shell Trading Up 0.5 %

Shell stock opened at $65.58 on Thursday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.41 and a quick ratio of 1.12. The company has a market capitalization of $204.09 billion, a price-to-earnings ratio of 12.10, a PEG ratio of 1.84 and a beta of 0.56. Shell plc has a one year low of $60.34 and a one year high of $74.61. The company’s fifty day moving average price is $68.37 and its two-hundred day moving average price is $70.61.

Shell (NYSE:SHEL) last posted its earnings results on Thursday, August 1st. The energy company reported $1.97 EPS for the quarter, topping the consensus estimate of $1.82 by $0.15. The firm had revenue of $75.06 billion for the quarter, compared to the consensus estimate of $88.62 billion. Shell had a net margin of 5.97% and a return on equity of 14.56%. During the same period in the prior year, the business posted $1.50 earnings per share. On average, analysts forecast that Shell plc will post 8.45 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Sanford C. Bernstein raised shares of Shell to a “strong-buy” rating in a research note on Friday, October 11th. Berenberg Bank raised shares of Shell to a “strong-buy” rating in a research note on Monday, August 5th. Citigroup raised shares of Shell to a “hold” rating in a research note on Wednesday, October 2nd. Royal Bank of Canada raised shares of Shell to a “moderate buy” rating in a research note on Tuesday, July 30th. Finally, Barclays raised shares of Shell to a “strong-buy” rating in a research note on Wednesday, October 2nd. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $82.00.

About Shell

Shell plc operates as an energy and petrochemical company Europe, Asia, Oceania, Africa, the United States, and Rest of the Americas. The company operates through Integrated Gas, Upstream, Marketing, Chemicals and Products, and Renewables and Energy Solutions segments. It explores for and extracts crude oil, natural gas, and natural gas liquids; markets and transports oil and gas; produces gas-to-liquids fuels and other products; and operates upstream and midstream infrastructure to deliver gas to market.