Shell plc (NYSE:SHEL) Holdings Decreased by Asio Capital LLC

Asio Capital LLC lowered its stake in Shell plc (NYSE:SHEL - Free Report) by 26.0% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 36,415 shares of the energy company's stock after selling 12,801 shares during the period. Asio Capital LLC's holdings in Shell were worth $2,668,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the company. Kennebec Savings Bank acquired a new position in shares of Shell in the 1st quarter worth approximately $25,000. CoreFirst Bank & Trust bought a new position in Shell during the fourth quarter worth $28,000. Human Investing LLC acquired a new position in Shell in the fourth quarter worth $31,000. Transce3nd LLC acquired a new stake in shares of Shell during the fourth quarter worth $34,000. Finally, Millstone Evans Group LLC bought a new position in shares of Shell in the 4th quarter worth about $36,000. 28.60% of the stock is currently owned by institutional investors and hedge funds.

Shell Price Performance

SHEL traded up $1.05 during trading on Friday, reaching $72.49. The stock had a trading volume of 5,920,768 shares, compared to its average volume of 4,318,045. Shell plc has a 1-year low of $58.55 and a 1-year high of $74.46. The company has a quick ratio of 1.10, a current ratio of 1.35 and a debt-to-equity ratio of 0.36. The stock has a 50 day moving average of $65.95 and a two-hundred day moving average of $66.06. The firm has a market capitalization of $216.67 billion, a price-to-earnings ratio of 14.44, a price-to-earnings-growth ratio of 0.98 and a beta of 0.39.

Shell (NYSE:SHEL - Get Free Report) last released its earnings results on Friday, May 2nd. The energy company reported $1.84 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.54 by $0.30. The firm had revenue of $69.23 billion for the quarter, compared to analyst estimates 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 earned $2.40 earnings per share. As a group, equities analysts anticipate that Shell plc will post 7.67 EPS for the current fiscal year.

Shell announced that its Board of Directors has approved a stock buyback plan on Friday, May 2nd that permits the company to repurchase $3.50 billion in shares. This repurchase authorization permits the energy company to reacquire up to 1.8% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's board believes its shares are undervalued.

Shell Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 23rd. Shareholders of record on Friday, May 16th will be issued a $0.716 dividend. This represents a $2.86 annualized dividend and a dividend yield of 3.95%. The ex-dividend date of this dividend is Friday, May 16th. Shell's payout ratio is 65.90%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on SHEL shares. Barclays reissued an "overweight" rating on shares of Shell in a report on Wednesday, March 26th. Piper Sandler upped their target price on shares of Shell from $72.00 to $80.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 13th. Scotiabank cut their price target on Shell from $75.00 to $70.00 and set a "sector outperform" rating on the stock in a report on Friday, April 11th. Wells Fargo & Company decreased their price objective on Shell from $83.00 to $80.00 and set an "overweight" rating for the company in a report on Monday, May 5th. Finally, TD Cowen cut their target price on Shell from $82.00 to $76.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, Shell currently has a consensus rating of "Buy" and an average price target of $78.26.

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.