Shell PLC Unsponsored ADR $SHEL Stake Raised by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS lifted its position in Shell PLC Unsponsored ADR (NYSE:SHEL) by 3.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 432,617 shares of the energy company’s stock after buying an additional 12,599 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Shell were worth $41,120,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Bank of America Corp DE increased its position in shares of 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 worth $597,811,000 after purchasing an additional 146,988 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in Shell by 7.9% during the second quarter. Envestnet Asset Management Inc. now owns 2,352,694 shares of the energy company’s stock valued at $182,425,000 after purchasing an additional 171,873 shares during the last quarter. Palogic Value Management L.P. lifted its position in Shell by 31.4% during the second quarter. Palogic Value Management L.P. now owns 54,698 shares of the energy company’s stock valued at $4,241,000 after purchasing an additional 13,080 shares during the last quarter. IFP Advisors Inc grew its stake in Shell by 86.6% in the 3rd quarter. IFP Advisors Inc now owns 25,800 shares of the energy company’s stock worth $2,452,000 after buying an additional 11,974 shares in the last quarter. Finally, Diversify Advisory Services LLC purchased a new position in Shell in the 2nd quarter worth approximately $854,000. 28.60% of the stock is currently owned by institutional investors.

Shell Trading Down 1.1%

SHEL stock opened at $99.03 on Friday. The company has a market capitalization of $283.71 billion, a PE ratio of 8.60, a price-to-earnings-growth ratio of 0.83 and a beta of 0.07. Shell PLC Unsponsored ADR has a one year low of $68.63 and a one year high of $109.37. The company’s 50 day moving average price is $99.09 and its two-hundred day moving average price is $88.88. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.09 and a current ratio of 1.38.

Shell (NYSE:SHEL) last announced its quarterly earnings data on Thursday, October 29th. The energy company reported $3.86 earnings per share (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 company had revenue of $92.85 billion during the quarter, compared to analysts’ expectations of $93.25 billion. As a group, analysts predict that Shell PLC Unsponsored ADR will post 12.29 earnings per share for the current fiscal year.

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

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on SHEL shares. Zacks Research upgraded shares of Shell from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 6th. Weiss Ratings upgraded shares of Shell from a “buy (a-)” rating to a “buy (a)” rating in a research report on Friday, October 30th. Royal Bank Of Canada reissued a “neutral” rating on shares of Shell in a research note on Thursday, October 29th. Erste Group Bank upgraded Shell from a “hold” rating to a “buy” rating in a research report on Thursday, August 27th. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of Shell in a research note on Thursday, October 29th. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $107.08.

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.