Carrhae Capital 13F: New $54M Stake in Shell (SHEL)

Carrhae Capital opened a new position in Shell plc (NYSE:SHEL), buying 567,748 shares worth about $53.9 million. The institutional investor disclosed the trade in a Form 13F filed with the SEC on October 20, 2026.

SHEL Shell plc

$105.54 ▲ +43.73% year to date

1M 3M YTD

Daily close · Oct 20, 2026

What Changed in Carrhae Capital's Shell Position

The fund initiated a brand-new stake in the energy giant during the period, ending up with 567,748 shares reported at a value of $53,964,447.

Other Institutional Activity in Shell

Brandes Investment Partners grew its holdings by 135,338 shares, ending with 2,752,755 shares worth about $213.4 million. Eagle Capital Management reduced its stake by 2,468,889 shares, leaving it with 5,308,706 shares valued at roughly $455.7 million. Euro Pacific Asset Management cut 1,689 shares, holding 158,055 shares worth about $14.6 million. Fisher Asset Management, LLC grew its holdings by 159,348 shares, ending with 27,633,155 shares worth about $2.91 billion. Orbis Allan Gray Ltd grew its holdings by 4,733,689 shares, ending with 8,847,436 shares worth about $933.7 million.

Shell plc Stock Up 0.7%

Shell shares closed at $105.54 on October 20, 2026, and recently traded at $105.54 on October 21, 2026. The stock trades above its 50-day moving average of $95.41 and its 200-day moving average of $87.18.

Recent Earnings

Shell reported trailing twelve month revenue of $296.6 billion and earnings of $9.06 per share. The company posted a net profit margin of 8.8% and a return on equity of 14.3%. The next earnings report is scheduled for October 29, 2026.

Dividend

Shell pays an annual dividend rate of $3.12 per share, giving it a dividend yield of 2.96% with a payout ratio of 32.6%.

Analysts Set New Price Targets

On July 20, 2026, Mizuho initiated coverage with a Neutral rating and a $98.0 target. On July 31, 2026, Wells Fargo maintained an Equal-Weight rating, raising its target from $100.0 to $105.0. On August 3, 2026, Piper Sandler maintained a Neutral rating, raising its target from $88.0 to $89.0. On September 3, 2026, Piper Sandler maintained a Neutral rating, raising its target from $89.0 to $100.0. On September 28, 2026, TD Cowen maintained a Buy rating, raising its target from $107.0 to $115.0. Overall, the stock has a consensus buy rating and a mean price target of $104.63 from 15 analyst opinions.

About Shell

Shell plc operates as an integrated energy and petrochemical company, managing businesses spanning traditional oil and gas extraction, chemicals, and renewable power solutions across global markets. The company works across segments like Integrated Gas, Upstream, Marketing, and Renewables to supply worldwide energy needs.

Bottom Line

Investors will look toward Shell's upcoming earnings report on October 29, 2026, for updates on operational performance and cash flows. Monitoring further institutional filings will show if other large funds follow Carrhae Capital's lead.