Shell (NYSE:SHEL) Reaches New 1-Year High – Here’s Why

Shares of Shell PLC Unsponsored ADR (NYSE:SHEL) hit a new 52-week high on Tuesday . The stock traded as high as $95.74 and last traded at $95.6550, with a volume of 1077934 shares. The stock had previously closed at $92.95.

Analyst Upgrades and Downgrades

A number of brokerages have commented on SHEL. Wall Street Zen upgraded Shell from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 8th. HSBC raised shares of Shell from a “hold” rating to a “buy” rating in a report on Monday, May 18th. TD Cowen restated a “buy” rating on shares of Shell in a report on Thursday, July 2nd. Jefferies Financial Group lifted their price objective on shares of Shell to $122.40 and gave the stock a “buy” rating in a research note on Thursday, May 21st. Finally, Piper Sandler increased their price target on Shell from $89.00 to $100.00 and gave the company a “neutral” rating in a report on Thursday. Seven analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $107.46.

Shell Price Performance

The firm has a 50-day simple moving average of $87.97 and a 200-day simple moving average of $86.99. The firm has a market cap of $267.84 billion, a P/E ratio of 10.54, a PEG ratio of 0.85 and a beta of 0.05. The company has a current ratio of 1.43, a quick ratio of 1.12 and a debt-to-equity ratio of 0.36.

Shell (NYSE:SHEL) last posted its quarterly earnings data on Friday, July 31st. The energy company reported $3.52 EPS for the quarter, topping the consensus estimate of $3.23 by $0.29. The firm had revenue of $94.66 billion during the quarter, compared to analyst estimates of $86.22 billion. Shell had a net margin of 8.55% and a return on equity of 14.34%. As a group, analysts forecast that Shell PLC Unsponsored ADR will post 10.53 EPS for the current year.

Hedge Funds Weigh In On Shell

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Brighton Jones LLC raised its holdings in shares of Shell by 51.7% during the fourth quarter. Brighton Jones LLC now owns 7,463 shares of the energy company’s stock valued at $468,000 after acquiring an additional 2,545 shares during the last quarter. Diversify Advisory Services LLC acquired a new stake in shares of Shell in the second quarter valued at about $854,000. Beese Fulmer Investment Management Inc. raised its holdings in Shell by 111.5% in the 4th quarter. Beese Fulmer Investment Management Inc. now owns 42,090 shares of the energy company’s stock valued at $3,093,000 after acquiring an additional 22,187 shares during the last quarter. Jefferies Financial Group Inc. grew its position in shares of Shell by 268.2% in the second quarter. Jefferies Financial Group Inc. now owns 103,304 shares of the energy company’s stock valued at $8,010,000 after purchasing an additional 75,249 shares in the last quarter. Finally, Quantitative Investment Management LLC purchased a new stake in Shell in the 2nd quarter valued at $3,451,000. 28.60% of the stock is owned by hedge funds and other institutional investors.

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.