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

Formidable Asset Management LLC purchased a new stake in Shell PLC Unsponsored ADR (NYSE:SHEL) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 9,775 shares of the energy company’s stock, valued at approximately $929,000.

A number of other large investors have also recently made changes to their positions in the company. Livelsberger Financial Advisory purchased a new position in Shell during the 3rd quarter worth approximately $33,000. Pension & Wealth Management Advisors Inc. acquired a new position in shares of Shell in the 3rd quarter valued at $35,000. DecisionPoint Financial LLC increased its holdings in shares of Shell by 73.3% in the 3rd quarter. DecisionPoint Financial LLC now owns 376 shares of the energy company’s stock valued at $36,000 after acquiring an additional 159 shares during the period. Latitude Advisors LLC acquired a new stake in Shell during the 3rd quarter worth $38,000. Finally, Continuum Advisory LLC acquired a new position in Shell in the second quarter valued at $34,000. 28.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have commented on SHEL shares. Wall Street Zen raised Shell from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 8th. Wells Fargo & Company upped their price objective on shares of Shell from $105.00 to $116.00 and gave the stock an “equal weight” rating in a research report on Friday, October 30th. TD Cowen increased their price target on shares of Shell from $107.00 to $115.00 and gave the stock a “buy” rating in a report on Monday, September 28th. Erste Group Bank upgraded shares of Shell from a “hold” rating to a “buy” rating in a research note on Thursday, August 27th. Finally, Morgan Stanley upgraded Shell from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $81.60 to $101.30 in a research report on Thursday, September 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $107.08.

Shell Price Performance

Shares of NYSE SHEL opened at $99.03 on Monday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.38 and a quick ratio of 1.09. Shell PLC Unsponsored ADR has a 1-year low of $68.63 and a 1-year high of $109.37. The company has a market capitalization of $283.71 billion, a price-to-earnings ratio of 8.60, a PEG ratio of 0.83 and a beta of 0.07. The business has a 50-day moving average of $99.09 and a 200-day moving average of $88.88.

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

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

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.