SIR Capital Management L.P. Boosts Stock Position in Shell plc (NYSE:SHEL)

SIR Capital Management L.P. raised its holdings in shares of Shell plc (NYSE:SHEL) by 45.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 169,901 shares of the energy company’s stock after purchasing an additional 53,300 shares during the quarter. SIR Capital Management L.P.’s holdings in Shell were worth $10,644,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in SHEL. Redwood Investments LLC purchased a new position in Shell in the fourth quarter worth about $145,000. Quantinno Capital Management LP boosted its holdings in shares of Shell by 9.8% in the 4th quarter. Quantinno Capital Management LP now owns 80,943 shares of the energy company’s stock worth $5,071,000 after purchasing an additional 7,234 shares during the period. Merewether Investment Management LP increased its position in shares of Shell by 46.5% during the 4th quarter. Merewether Investment Management LP now owns 2,262,997 shares of the energy company’s stock valued at $141,777,000 after purchasing an additional 718,233 shares during the last quarter. Minot DeBlois Advisors LLC purchased a new stake in Shell during the 4th quarter valued at $438,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Shell by 2.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 139,564 shares of the energy company’s stock worth $8,744,000 after buying an additional 3,553 shares during the last quarter. 28.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on SHEL shares. Wells Fargo & Company lowered their target price on shares of Shell from $83.00 to $80.00 and set an “overweight” rating for the company in a report on Monday, May 5th. Piper Sandler increased their price objective on shares of Shell from $72.00 to $80.00 and gave the stock an “overweight” rating in a research report on Tuesday. TD Securities restated a “buy” rating on shares of Shell in a research report on Friday, April 4th. TD Cowen reduced their price target on Shell from $82.00 to $76.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. Finally, Barclays restated an “overweight” rating on shares of Shell in a report on Wednesday, March 26th. One investment analyst has rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $78.35.

Shell Trading Up 0.4%

SHEL opened at $67.39 on Friday. Shell plc has a 52 week low of $58.55 and a 52 week high of $74.46. The company has a market capitalization of $202.71 billion, a P/E ratio of 13.42, a PEG ratio of 0.98 and a beta of 0.38. The stock’s fifty day moving average is $66.80 and its two-hundred day moving average is $65.87. The company has a quick ratio of 1.10, a current ratio of 1.35 and a debt-to-equity ratio of 0.36.

Shell (NYSE:SHEL) last released its quarterly earnings data on Friday, May 2nd. The energy company reported $1.84 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.30. The firm had revenue of $69.23 billion during the quarter, compared to the consensus estimate of $79.18 billion. Shell had a return on equity of 12.75% and a net margin of 5.57%. During the same period in the previous year, the company posted $2.40 earnings per share. Analysts forecast that Shell plc will post 7.67 earnings per share for the current year.

Shell Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 23rd. Investors of record on Friday, May 16th will be paid a $0.716 dividend. This represents a $2.86 dividend on an annualized basis and a yield of 4.25%. The ex-dividend date is Friday, May 16th. Shell’s dividend payout ratio (DPR) is 65.90%.

Shell declared that its Board of Directors has initiated a share buyback plan on Friday, May 2nd that authorizes the company to repurchase $3.50 billion in outstanding shares. This repurchase authorization authorizes the energy company to repurchase up to 1.8% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

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.