SCP Investment LP Grows Position in Shell plc (NYSE:SHEL)

SCP Investment LP lifted its holdings in Shell plc (NYSE:SHEL) by 21.4% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 27,800 shares of the energy company’s stock after purchasing an additional 4,900 shares during the period. Shell makes up approximately 1.3% of SCP Investment LP’s holdings, making the stock its 12th largest holding. SCP Investment LP’s holdings in Shell were worth $1,742,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of SHEL. Fisher Asset Management LLC increased its stake in shares of Shell by 1.7% in the 4th quarter. Fisher Asset Management LLC now owns 24,938,735 shares of the energy company’s stock worth $1,562,412,000 after acquiring an additional 408,088 shares during the last quarter. Franklin Resources Inc. raised its stake in Shell by 0.9% during the third quarter. Franklin Resources Inc. now owns 5,972,945 shares of the energy company’s stock worth $408,430,000 after purchasing an additional 55,637 shares during the period. Holocene Advisors LP grew its stake in shares of Shell by 29.8% in the 3rd quarter. Holocene Advisors LP now owns 3,773,617 shares of the energy company’s stock valued at $248,870,000 after buying an additional 866,954 shares during the period. Jennison Associates LLC raised its position in shares of Shell by 1.0% during the 4th quarter. Jennison Associates LLC now owns 3,045,043 shares of the energy company’s stock valued at $190,772,000 after buying an additional 30,844 shares during the period. Finally, Merewether Investment Management LP grew its position in Shell by 41.0% in the third quarter. Merewether Investment Management LP now owns 1,544,764 shares of the energy company’s stock worth $101,877,000 after acquiring an additional 449,000 shares during the period. Hedge funds and other institutional investors own 28.60% of the company’s stock.

Analysts Set New Price Targets

SHEL has been the subject of a number of research analyst reports. Wolfe Research upgraded Shell from a “peer perform” rating to an “outperform” rating and set a $80.00 price target for the company in a report on Friday, January 3rd. Morgan Stanley upgraded shares of Shell from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $66.50 to $79.80 in a report on Tuesday, January 7th. TD Cowen initiated coverage on shares of Shell in a report on Wednesday, March 19th. They issued a “buy” rating and a $81.00 target price for the company. UBS Group raised Shell from a “neutral” rating to a “buy” rating in a research note on Wednesday, January 8th. Finally, Piper Sandler cut their price target on shares of Shell from $82.00 to $72.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. One research analyst has rated the stock with a hold rating, ten have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $80.10.

Shell Stock Down 0.7 %

Shares of NYSE:SHEL opened at $72.74 on Friday. The company has a current ratio of 1.35, a quick ratio of 1.10 and a debt-to-equity ratio of 0.36. The firm has a 50 day simple moving average of $67.68 and a 200-day simple moving average of $66.42. The company has a market capitalization of $219.95 billion, a PE ratio of 14.49, a P/E/G ratio of 0.98 and a beta of 0.47. Shell plc has a twelve month low of $60.15 and a twelve month high of $74.61.

Shell (NYSE:SHEL) last issued its quarterly earnings data on Thursday, January 30th. The energy company reported $1.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.74 by ($0.54). Shell had a return on equity of 12.75% and a net margin of 5.57%. On average, equities analysts predict that Shell plc will post 7.67 EPS for the current fiscal year.

Shell Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Friday, February 14th were issued a $0.716 dividend. This represents a $2.86 dividend on an annualized basis and a dividend yield of 3.94%. This is a boost from Shell’s previous quarterly dividend of $0.69. The ex-dividend date of this dividend was Friday, February 14th. Shell’s payout ratio is presently 56.97%.

Shell Company 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.