Shell (SHEL)

• Market cap: $185B
• 1 day: -0.23%
• 5 days: -4.08%
• 1 month: -7.32%
• 3 months: -11.76%
• 6 months: -13.41%
• Year to date: -8.00%
• 1 year: -6.79%
• 5 years: 17.98%
• 10 years: 17.98%

About: Shell is an integrated oil and gas company that explores for, produces, and refines oil around the world. In 2023, it produced 1.5 million barrels of liquids and 7.3 billion cubic feet of natural gas per day. At end-2023, reserves stood at 9.6 billion barrels of oil equivalent, 49% of which, consisted of liquids. Its production and reserves are in Europe, Asia, Oceania, Africa, and North and South America. The company operates refineries with capacity of 1.6 mmb/d located in the Americas, Asia, Africa, and Europe and sells about 12 million tons per year of chemicals. Its largest chemical plants, often integrated with its local refineries, are in Central Europe, China, Singapore, and North America.

Employees: 100,000

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

105% more call options, than puts

Call options by funds: $669M | Put options by funds: $327M

0.04% less ownership

Funds ownership: 5.84% [Q2] → 5.8% (-0.04%) [Q3]

2% less repeat investments, than reductions

Existing positions increased: 470 | Existing positions reduced: 480

3% less funds holding

Funds holding: 1,359 [Q2] → 1,321 (-38) [Q3]

11% less capital invested

Capital invested by funds: $26.6B [Q2] → $23.8B (-$2.86B) [Q3]

30% less funds holding in top 10

Funds holding in top 10: 33 [Q2] → 23 (-10) [Q3]

31% less first-time investments, than exits

New positions opened: 86 | Existing positions closed: 124

Research analyst outlook

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

• Low target: $72 19% upside
• Avg. target: $80 31% upside
• High target: $87 43% upside

3 analyst ratings

• positive: 3 100%
• neutral: 0 0%
• negative: 0 0%

Piper Sandler Ryan Todd 17% 1-year accuracy 6 / 36 met price target	19% upside $72	Overweight Maintained	19 Dec 2024
Wells Fargo Roger Read 23% 1-year accuracy 23 / 99 met price target	43% upside $87	Overweight Maintained	9 Dec 2024
Scotiabank Paul Cheng 13% 1-year accuracy 6 / 45 met price target	32% upside $80	Sector Outperform Maintained	10 Oct 2024