Shell (SHEL)

• Market cap: $185B
• 1 day: 3.86%
• 5 days: 2.75%
• 1 month: -7.06%
• 3 months: -4.42%
• 6 months: -9.34%
• Year to date: -1.60%
• 1 year: -14.55%
• 5 years: 20.80%
• 10 years: 20.80%
• Sector: Energy
• Industry: Oil & Gas Integrated

Fund manager confidence

Based on 2024 Q4 regulatory disclosures by fund managers ($100M+ AUM)

140% more call options, than puts

Call options by funds: $891M | Put options by funds: $371M

36% more first-time investments, than exits

New positions opened: 140 | Existing positions closed: 103

3% more capital invested

Capital invested by funds: $23.8B [Q3] → $24.5B (+$727M) [Q4]

1% more funds holding

Funds holding: 1,332 [Q3] → 1,344 (+12) [Q4]

0.33% more ownership

Funds ownership: 5.81% [Q3] → 6.14% (+0.33%) [Q4]

9% less funds holding in top 10

Funds holding in top 10: 23 [Q3] → 21 (-2) [Q4]

21% less repeat investments, than reductions

Existing positions increased: 420 | Existing positions reduced: 531

Research analyst outlook

4 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $70 13% upside
• Avg. target: $78 25% upside
• High target: $83 34% upside

4 analyst ratings

• positive: 4 100%
• neutral: 0 0%
• negative: 0 0%

Scotiabank Paul Cheng 32% 1-year accuracy 12 / 37 met price target	13% upside $70	Sector Outperform Maintained	11 Apr 2025
Wells Fargo Roger Read 20% 1-year accuracy 22 / 110 met price target	34% upside $83	Overweight Maintained	8 Apr 2025
TD Cowen Jason Gabelman 33% 1-year accuracy 9 / 27 met price target	22% upside $76	Buy Maintained	8 Apr 2025
TD Securities Jason Gabelman 33% 1-year accuracy 9 / 27 met price target	32% upside $82	Buy Maintained	19 Mar 2025