Eldred Rock Partners LLC Has $7.63 Million Holdings in Shell plc (NYSE:SHEL)

Eldred Rock Partners LLC boosted its position in shares of Shell plc (NYSE:SHEL - Free Report) by 33.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 104,376 shares of the energy company's stock after purchasing an additional 26,174 shares during the period. Shell makes up 2.3% of Eldred Rock Partners LLC's portfolio, making the stock its 28th biggest position. Eldred Rock Partners LLC's holdings in Shell were worth $7,634,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. FMR LLC grew its holdings in Shell by 32.3% during the 4th quarter. FMR LLC now owns 86,417,177 shares of the energy company's stock worth $5,414,036,000 after acquiring an additional 21,118,234 shares in the last quarter. Fisher Asset Management LLC grew its holdings in Shell by 1.7% during 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 in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Shell by 3.1% in the 4th quarter. Wellington Management Group LLP now owns 7,982,817 shares of the energy company's stock valued at $500,123,000 after buying an additional 238,705 shares during the period. Franklin Resources Inc. boosted its holdings in shares of Shell by 0.8% in the 4th quarter. Franklin Resources Inc. now owns 6,023,173 shares of the energy company's stock valued at $377,352,000 after buying an additional 50,228 shares during the period. Finally, Voloridge Investment Management LLC boosted its holdings in shares of Shell by 170.3% in the 4th quarter. Voloridge Investment Management LLC now owns 3,463,372 shares of the energy company's stock valued at $216,980,000 after buying an additional 2,182,253 shares during the period. 28.60% of the stock is owned by institutional investors and hedge funds.

Shell Price Performance

Shares of SHEL stock traded up $0.52 during midday trading on Thursday, reaching $67.79. 2,026,452 shares of the company were exchanged, compared to its average volume of 4,290,817. Shell plc has a 12 month low of $58.55 and a 12 month high of $74.46. The company has a market cap of $202.61 billion, a P/E ratio of 13.50, a PEG ratio of 0.98 and a beta of 0.38. The company's 50 day moving average price is $65.68 and its two-hundred day moving average price is $65.85. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.10 and a current ratio of 1.35.

Shell (NYSE:SHEL - Get Free Report) last released its quarterly earnings results on Friday, May 2nd. The energy company reported $1.84 EPS for the quarter, topping analysts' consensus estimates of $1.54 by $0.30. Shell had a net margin of 5.57% and a return on equity of 12.75%. The company had revenue of $69.23 billion for the quarter, compared to the consensus estimate of $79.18 billion. During the same period in the previous year, the firm earned $2.40 EPS. On average, sell-side analysts expect that Shell plc will post 7.67 earnings per share for the current year.

Shell announced that its board has approved a share repurchase program on Friday, May 2nd that allows the company to repurchase $3.50 billion in outstanding shares. This repurchase authorization allows the energy company to purchase up to 1.8% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's board of directors believes its shares are undervalued.

Shell Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 23rd. Investors of record on Friday, May 16th will be issued a $0.716 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 4.22%. Shell's payout ratio is currently 65.90%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Scotiabank decreased their price target on shares of Shell from $75.00 to $70.00 and set a "sector outperform" rating for the company in a report on Friday, April 11th. Barclays reaffirmed an "overweight" rating on shares of Shell in a report on Wednesday, March 26th. Piper Sandler lifted their price target on shares of Shell from $72.00 to $80.00 and gave the company an "overweight" rating in a report on Tuesday, May 13th. Hsbc Global Res upgraded shares of Shell to a "strong-buy" rating in a research report on Tuesday, May 13th. Finally, Royal Bank of Canada reiterated an "outperform" rating on shares of Shell in a research report on Wednesday, March 26th. One research analyst has rated the stock with a hold rating, eleven have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, Shell currently has an average rating of "Buy" and an average price target of $78.35.

About Shell

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.