Shell (NYSE:SHEL) Hits New 12-Month High – What’s Next?

Shares of Shell PLC Unsponsored ADR (NYSE:SHEL) hit a new 52-week high during mid-day trading on Monday. The company traded as high as $108.43 and last traded at $106.8260, with a volume of 4,656,930 shares. The stock had previously closed at $108.18.

Analyst Upgrades and Downgrades

SHEL has been the topic of several recent analyst reports. 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 boosted their price target on Shell from $100.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Friday, July 31st. Morgan Stanley set a $101.30 price target on Shell and gave the stock an “overweight” rating in a research note on Thursday, September 3rd. Piper Sandler raised their price target on Shell from $89.00 to $100.00 and gave the company a “neutral” rating in a report on Thursday, September 3rd. Finally, Mizuho set a $103.00 price objective on shares of Shell in a research note on Monday, October 12th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and nine have assigned 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 an average target price of $106.63.

Shell Price Performance

The business has a 50-day simple moving average of $97.24 and a two-hundred day simple moving average of $87.63.

Shell (NYSE:SHEL) last issued its quarterly earnings results on Friday, July 31st. The energy company reported $3.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.23 by $0.29. The firm had revenue of $94.66 billion for the quarter, compared to the consensus estimate of $86.22 billion. Equities analysts predict that Shell PLC Unsponsored ADR will post 11.94 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of SHEL. Pension & Wealth Management Advisors Inc. bought a new stake in Shell in the third quarter worth about $35,000. DecisionPoint Financial LLC boosted its position in shares of Shell by 73.3% during the 3rd quarter. DecisionPoint Financial LLC now owns 376 shares of the energy company’s stock valued at $36,000 after purchasing an additional 159 shares in the last quarter. Latitude Advisors LLC bought a new position in shares of Shell during the 3rd quarter valued at about $38,000. Continuum Advisory LLC acquired a new position in shares of Shell in the 2nd quarter worth approximately $34,000. Finally, Retirement Wealth Solutions LLC grew its stake in shares of Shell by 57.8% in the 3rd quarter. Retirement Wealth Solutions LLC now owns 478 shares of the energy company’s stock worth $45,000 after purchasing an additional 175 shares during the last quarter. 28.60% of the stock is owned by institutional investors and hedge funds.

Shell Company Profile

Shell plc is a global energy company headquartered in London, England. Its operations span the energy value chain, including the exploration, production, processing, trading and marketing of oil and natural gas. The company is also a major participant in liquefied natural gas (LNG), refining, chemicals and energy-related products.

Shell sells fuels, lubricants and other petroleum products through branded retail and commercial businesses, while also providing services to industrial, marine and aviation customers.