Shell plc (NYSE:SHEL) Shares Bought by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lifted its stake in Shell plc (NYSE:SHEL) by 45.4% in the third quarter, HoldingsChannel reports. The firm owned 16,181 shares of the energy company’s stock after acquiring an additional 5,050 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Shell were worth $1,067,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in SHEL. Hobbs Group Advisors LLC purchased a new position in shares of Shell during the 2nd quarter worth approximately $26,000. Triad Wealth Partners LLC acquired a new position in shares of Shell in the 2nd quarter valued at approximately $31,000. Fairscale Capital LLC bought a new position in Shell during the 2nd quarter worth approximately $33,000. LRI Investments LLC grew its stake in Shell by 3,856.3% during the 2nd quarter. LRI Investments LLC now owns 633 shares of the energy company’s stock worth $46,000 after buying an additional 617 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Shell during the second quarter valued at $49,000. Hedge funds and other institutional investors own 28.60% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on SHEL shares. Berenberg Bank upgraded shares of Shell to a “strong-buy” rating in a research note on Monday, August 5th. Wells Fargo & Company raised their price target on shares of Shell from $84.00 to $88.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Scotiabank dropped their target price on Shell from $90.00 to $80.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Wolfe Research started coverage on shares of Shell in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Finally, Citigroup upgraded shares of Shell to a “hold” rating in a report on Wednesday, October 2nd. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $82.00.

Shell Price Performance

Shares of NYSE SHEL opened at $67.60 on Friday. The firm has a market cap of $210.38 billion, a price-to-earnings ratio of 12.45, a price-to-earnings-growth ratio of 1.84 and a beta of 0.56. Shell plc has a 1-year low of $60.34 and a 1-year high of $74.61. The company has a current ratio of 1.41, a quick ratio of 1.12 and a debt-to-equity ratio of 0.35. The stock has a fifty day simple moving average of $68.25 and a two-hundred day simple moving average of $70.58.

Shell (NYSE:SHEL) last issued its quarterly earnings results on Thursday, August 1st. The energy company reported $1.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.82 by $0.15. Shell had a return on equity of 14.56% and a net margin of 5.97%. The firm had revenue of $75.06 billion during the quarter, compared to analyst estimates of $88.62 billion. During the same quarter in the previous year, the company posted $1.50 earnings per share. Analysts anticipate that Shell plc will post 8.45 earnings per share for the current year.

Shell Profile

Shell plc operates as an energy and petrochemical company Europe, Asia, Oceania, Africa, the United States, and Rest of the Americas. The company operates through Integrated Gas, Upstream, Marketing, Chemicals and Products, and Renewables and Energy Solutions segments. It explores for and extracts crude oil, natural gas, and natural gas liquids; markets and transports oil and gas; produces gas-to-liquids fuels and other products; and operates upstream and midstream infrastructure to deliver gas to market.