Shell PLC Unsponsored ADR $SHEL Stock Sold by Confluence Wealth Services Inc.

Confluence Wealth Services Inc. lowered its holdings in Shell PLC Unsponsored ADR (NYSE:SHEL) by 66.9% during the third quarter, HoldingsChannel reports. The fund owned 2,913 shares of the energy company’s stock after selling 5,891 shares during the period. Confluence Wealth Services Inc.’s holdings in Shell were worth $277,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in SHEL. Bank of America Corp DE increased its stake in Shell by 1.9% in the second quarter. Bank of America Corp DE now owns 7,709,715 shares of the energy company’s stock valued at $597,811,000 after purchasing an additional 146,988 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Shell by 7.9% during the 2nd quarter. Envestnet Asset Management Inc. now owns 2,352,694 shares of the energy company’s stock worth $182,425,000 after buying an additional 171,873 shares during the last quarter. Palogic Value Management L.P. lifted its position in shares of Shell by 31.4% during the 2nd quarter. Palogic Value Management L.P. now owns 54,698 shares of the energy company’s stock worth $4,241,000 after buying an additional 13,080 shares during the last quarter. IFP Advisors Inc boosted its holdings in shares of Shell by 86.6% in the 3rd quarter. IFP Advisors Inc now owns 25,800 shares of the energy company’s stock valued at $2,452,000 after buying an additional 11,974 shares in the last quarter. Finally, Diversify Advisory Services LLC purchased a new position in shares of Shell in the 2nd quarter valued at $854,000. Institutional investors and hedge funds own 28.60% of the company’s stock.

Shell Price Performance

SHEL stock opened at $98.61 on Friday. The company has a current ratio of 1.38, a quick ratio of 1.09 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $282.48 billion, a P/E ratio of 8.93, a PEG ratio of 0.81 and a beta of 0.07. The business has a 50 day simple moving average of $99.56 and a 200-day simple moving average of $89.38. Shell PLC Unsponsored ADR has a twelve month low of $68.63 and a twelve month high of $109.37.

Shell (NYSE:SHEL) last announced its earnings results on Thursday, October 29th. The energy company reported $3.86 EPS for the quarter, beating analysts’ consensus estimates of $3.60 by $0.26. Shell had a net margin of 9.96% and a return on equity of 16.86%. The business had revenue of $92.85 billion for the quarter, compared to analysts’ expectations of $93.25 billion. As a group, equities analysts anticipate that Shell PLC Unsponsored ADR will post 12.46 EPS for the current year.

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

Analyst Ratings Changes

Several equities research analysts recently commented on SHEL shares. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Shell in a research note on Wednesday, October 21st. Royal Bank Of Canada reissued a “neutral” rating on shares of Shell in a research report on Thursday, October 29th. Barclays restated an “overweight” rating on shares of Shell in a research note on Monday, October 5th. Mizuho set a $103.00 price objective on Shell in a report on Monday, October 12th. Finally, UBS Group reiterated a “neutral” rating on shares of Shell in a research report on Friday, October 30th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $107.08.

Shell Company Profile

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.