SCP Investment LP Lowers Stock Holdings in Shell PLC Unsponsored ADR (NYSE:SHEL)

SCP Investment LP decreased its position in shares of Shell PLC Unsponsored ADR (NYSE:SHEL) by 43.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,800 shares of the energy company’s stock after selling 12,000 shares during the period. Shell comprises 1.0% of SCP Investment LP’s investment portfolio, making the stock its 18th biggest position. SCP Investment LP’s holdings in Shell were worth $1,158,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC grew its stake in Shell by 51.7% during the 4th quarter. Brighton Jones LLC now owns 7,463 shares of the energy company’s stock worth $468,000 after purchasing an additional 2,545 shares in the last quarter. Barclays PLC grew its position in shares of Shell by 136.2% during the fourth quarter. Barclays PLC now owns 7,824 shares of the energy company’s stock worth $490,000 after buying an additional 4,512 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Shell by 4.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 19,323 shares of the energy company’s stock valued at $1,401,000 after acquiring an additional 815 shares in the last quarter. Merit Financial Group LLC grew its holdings in Shell by 100.9% during the 1st quarter. Merit Financial Group LLC now owns 11,534 shares of the energy company’s stock worth $845,000 after acquiring an additional 5,794 shares in the last quarter. Finally, Kingsview Wealth Management LLC raised its holdings in shares of Shell by 30.6% in the 1st quarter. Kingsview Wealth Management LLC now owns 21,327 shares of the energy company’s stock valued at $1,563,000 after purchasing an additional 5,002 shares in the last quarter. 28.60% of the stock is owned by institutional investors and hedge funds.

Shell Stock Down 0.3%

Shares of NYSE:SHEL opened at $71.99 on Friday. The company has a quick ratio of 1.08, a current ratio of 1.32 and a debt-to-equity ratio of 0.36. The company has a market cap of $212.81 billion, a price-to-earnings ratio of 16.21, a PEG ratio of 2.09 and a beta of 0.44. Shell PLC Unsponsored ADR has a fifty-two week low of $58.54 and a fifty-two week high of $74.18. The firm’s 50-day simple moving average is $70.45 and its 200-day simple moving average is $67.98.

Shell (NYSE:SHEL) last released its quarterly earnings data on Thursday, July 31st. The energy company reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.29. The firm had revenue of $66.44 billion during the quarter, compared to analysts’ expectations of $69.31 billion. Shell had a return on equity of 10.66% and a net margin of 4.93%. As a group, equities research analysts predict that Shell PLC Unsponsored ADR will post 7.67 earnings per share for the current year.

Shell declared that its Board of Directors has authorized a share buyback program on Friday, May 2nd that allows the company to buyback $3.50 billion in shares. This buyback authorization allows the energy company to purchase up to 1.8% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

Shell Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 23rd. Shareholders of record on Friday, May 16th were issued a dividend of $0.716 per share. This represents a $2.86 annualized dividend and a yield of 4.0%. The ex-dividend date was Friday, May 16th. Shell’s dividend payout ratio (DPR) is 65.90%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Santander downgraded Shell to a “neutral” rating in a report on Friday, July 11th. TD Cowen lowered their price target on Shell from $82.00 to $76.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. Sanford C. Bernstein downgraded shares of Shell from an “outperform” rating to a “market perform” rating in a research report on Monday, June 16th. Piper Sandler boosted their price target on shares of Shell from $83.00 to $84.00 and gave the company an “overweight” rating in a research report on Tuesday, July 15th. Finally, Hsbc Global Res raised Shell to a “strong-buy” rating in a report on Tuesday, May 13th. Three analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $78.69.

Shell 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.