Bank of Nova Scotia Grows Stock Position in Shell PLC Unsponsored ADR $SHEL

Bank of Nova Scotia raised its holdings in shares of Shell PLC Unsponsored ADR (NYSE:SHEL) by 493.0% in the second quarter, Holdings Channel.com reports. The institutional investor owned 17,790 shares of the energy company’s stock after purchasing an additional 14,790 shares during the quarter. Bank of Nova Scotia’s holdings in Shell were worth $1,379,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Elevation Point Wealth Partners LLC increased its stake in shares of Shell by 18.8% in the 2nd quarter. Elevation Point Wealth Partners LLC now owns 45,721 shares of the energy company’s stock worth $3,545,000 after acquiring an additional 7,233 shares during the last quarter. W1M Asset Management Ltd lifted its stake in shares of Shell by 17.2% in the 2nd quarter. W1M Asset Management Ltd now owns 13,261 shares of the energy company’s stock valued at $1,028,000 after purchasing an additional 1,945 shares during the last quarter. Emerald Investment Advisers LLC lifted its position in Shell by 90.6% in the second quarter. Emerald Investment Advisers LLC now owns 26,510 shares of the energy company’s stock valued at $2,056,000 after buying an additional 12,599 shares during the last quarter. EP Wealth Advisors LLC raised its stake in shares of Shell by 12.3% in the 2nd quarter. EP Wealth Advisors LLC now owns 32,522 shares of the energy company’s stock valued at $2,522,000 after acquiring an additional 3,562 shares during the period. Finally, Callan Family Office LLC raised its position in Shell by 1.4% in the second quarter. Callan Family Office LLC now owns 133,184 shares of the energy company’s stock valued at $10,327,000 after purchasing an additional 1,793 shares during the period. 28.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on SHEL shares. TD Cowen reissued a “buy” rating on shares of Shell in a research report on Thursday, July 2nd. Wells Fargo & Company boosted their price objective on Shell from $100.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Friday, July 31st. Jefferies Financial Group increased their price objective on shares of Shell to $122.40 and gave the company a “buy” rating in a research report on Thursday, May 21st. Wall Street Zen raised Shell from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 8th. Finally, HSBC upgraded shares of Shell from a “hold” rating to a “buy” rating in a research report on Monday, May 18th. Five analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $106.77.

Shell Price Performance

Shares of NYSE SHEL opened at $91.14 on Thursday. The company has a current ratio of 1.43, a quick ratio of 1.12 and a debt-to-equity ratio of 0.36. The stock has a market cap of $255.51 billion, a P/E ratio of 10.06, a P/E/G ratio of 0.60 and a beta of 0.05. The stock has a 50 day moving average of $85.72 and a two-hundred day moving average of $86.20. Shell PLC Unsponsored ADR has a twelve month low of $68.63 and a twelve month high of $94.90.

Shell (NYSE:SHEL) last released its quarterly earnings results on Friday, July 31st. The energy company reported $3.52 EPS for the quarter, beating the consensus estimate of $3.23 by $0.29. Shell had a net margin of 8.55% and a return on equity of 14.34%. The firm had revenue of $94.66 billion during the quarter, compared to the consensus estimate of $86.22 billion. On average, research analysts forecast that Shell PLC Unsponsored ADR will post 10.36 earnings per share for the current year.

Shell Company Profile

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.