Kornitzer Capital Management Inc. KS Buys 12,599 Shares of Shell PLC Unsponsored ADR $SHEL

Kornitzer Capital Management Inc. KS boosted its stake in Shell PLC Unsponsored ADR (NYSE:SHEL) by 3.0% during the third quarter, Holdings Channel.com reports. The firm owned 432,617 shares of the energy company’s stock after buying an additional 12,599 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Shell were worth $41,120,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Engineers Gate Manager LP lifted its position in Shell by 300.7% in the second quarter. Engineers Gate Manager LP now owns 840,770 shares of the energy company’s stock valued at $65,193,000 after purchasing an additional 630,948 shares during the last quarter. Waverly Advisors LLC grew its holdings in shares of Shell by 307.1% in the second quarter. Waverly Advisors LLC now owns 407,847 shares of the energy company’s stock worth $31,624,000 after purchasing an additional 307,671 shares during the last quarter. Cibc World Market Inc. increased its stake in shares of Shell by 66.3% in the second quarter. Cibc World Market Inc. now owns 586,039 shares of the energy company’s stock worth $45,441,000 after buying an additional 233,634 shares during the period. Van ECK Associates Corp increased its stake in shares of Shell by 44.3% in the second quarter. Van ECK Associates Corp now owns 643,152 shares of the energy company’s stock worth $49,870,000 after buying an additional 197,551 shares during the period. Finally, Envestnet Asset Management Inc. raised its holdings in Shell by 7.9% during the 2nd quarter. Envestnet Asset Management Inc. now owns 2,352,694 shares of the energy company’s stock valued at $182,425,000 after buying an additional 171,873 shares during the last quarter. Institutional investors own 28.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Mizuho set a $103.00 price target on shares of Shell in a research report on Monday, October 12th. UBS Group restated a “neutral” rating on shares of Shell in a research report on Friday, October 30th. Royal Bank Of Canada reaffirmed a “neutral” rating on shares of Shell in a research note on Thursday, October 29th. The Goldman Sachs Group reiterated a “buy” rating on shares of Shell in a report on Monday, November 2nd. Finally, TD Cowen raised their target price on Shell from $107.00 to $115.00 and gave the stock a “buy” rating in a research note on Monday, September 28th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, Shell presently has a consensus rating of “Moderate Buy” and an average target price of $107.08.

Shell Price Performance

Shares of Shell stock opened at $99.03 on Friday. The business has a 50 day moving average of $99.09 and a 200 day moving average of $88.88. Shell PLC Unsponsored ADR has a 52 week low of $68.63 and a 52 week high of $109.37. The company has a market cap of $283.71 billion, a PE ratio of 8.60, a P/E/G ratio of 0.83 and a beta of 0.07. The company has a quick ratio of 1.09, a current ratio of 1.38 and a debt-to-equity ratio of 0.34.

Shell (NYSE:SHEL) last released its quarterly earnings results on Thursday, October 29th. The energy company reported $3.86 earnings per share for the quarter, beating the consensus estimate of $3.60 by $0.26. The business had revenue of $92.85 billion for the quarter, compared to analysts’ expectations of $93.25 billion. Shell had a net margin of 9.96% and a return on equity of 16.86%. As a group, equities research analysts forecast that Shell PLC Unsponsored ADR will post 12.29 earnings per share for the current year.

Shell announced that its Board of Directors has authorized a share repurchase plan on Thursday, October 29th that authorizes the company to buy back $5 billion in outstanding shares. This buyback authorization authorizes the energy company to repurchase up to 1.7% of its stock through open market purchases. Share buyback plans are often an indication that the company’s management believes its stock is undervalued.

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.