Hiddenite Capital Partners LP Sells 100,000 Shares of Shell PLC Unsponsored ADR $SHEL

Key Points

• Hiddenite Capital Partners LP significantly reduced its stake in Shell PLC by 59.3% during Q1, selling 100,000 shares and now holding 68,500 shares valued at approximately $5.02 million.
• Multiple hedge funds, including Brighton Jones LLC and Barclays PLC, have increased their investments in Shell, indicating mixed sentiment among institutional investors.
• Shell recently reported a quarterly EPS of $1.42, exceeding analyst expectations, and declared a quarterly dividend of $0.716 per share, highlighting their commitment to returning capital to shareholders.

Hiddenite Capital Partners LP reduced its stake in Shell PLC Unsponsored ADR (NYSE:SHEL - Free Report) by 59.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 68,500 shares of the energy company's stock after selling 100,000 shares during the period. Shell makes up approximately 1.7% of Hiddenite Capital Partners LP's holdings, making the stock its 20th largest holding. Hiddenite Capital Partners LP's holdings in Shell were worth $5,020,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the company. Kennebec Savings Bank acquired a new stake in Shell in the 1st quarter valued at about $25,000. Avalon Trust Co acquired a new stake in Shell in the 1st quarter valued at about $25,000. Brown Lisle Cummings Inc. increased its position in Shell by 103.4% in the 1st quarter. Brown Lisle Cummings Inc. now owns 356 shares of the energy company's stock valued at $26,000 after acquiring an additional 181 shares in the last quarter. Truvestments Capital LLC increased its position in Shell by 102.9% in the 1st quarter. Truvestments Capital LLC now owns 420 shares of the energy company's stock valued at $31,000 after acquiring an additional 213 shares in the last quarter. Finally, Cheviot Value Management LLC acquired a new stake in Shell in the 1st quarter valued at about $37,000. Institutional investors and hedge funds own 28.60% of the company's stock.

Shell Trading Down 1.4%

Shell stock traded down $1.02 during midday trading on Wednesday, hitting $72.78. 4,528,978 shares of the stock were exchanged, compared to its average volume of 4,581,393. The company has a fifty day simple moving average of $71.93 and a two-hundred day simple moving average of $68.96. Shell PLC Unsponsored ADR has a 52 week low of $58.54 and a 52 week high of $74.21. The stock has a market capitalization of $213.83 billion, a PE ratio of 16.39, a P/E/G ratio of 1.96 and a beta of 0.46. The company has a quick ratio of 1.07, a current ratio of 1.32 and a debt-to-equity ratio of 0.36.

Shell (NYSE:SHEL - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The energy company reported $1.42 earnings per share for the quarter, beating analysts' consensus estimates of $1.13 by $0.29. Shell had a net margin of 4.93% and a return on equity of 10.67%. The firm had revenue of $66.44 billion for the quarter, compared to analyst estimates of $69.31 billion. Equities research analysts anticipate that Shell PLC Unsponsored ADR will post 7.67 EPS for the current fiscal year.

Shell Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 22nd. Stockholders of record on Friday, August 15th will be given a $0.716 dividend. This represents a $2.86 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend is Friday, August 15th. Shell's payout ratio is currently 64.41%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on SHEL shares. HSBC reiterated a "hold" rating and set a $78.30 price target (down previously from $78.90) on shares of Shell in a research report on Monday, August 4th. Scotiabank reiterated an "outperform" rating on shares of Shell in a research report on Friday, July 11th. Melius Research started coverage on shares of Shell in a research report on Wednesday, August 20th. They set a "hold" rating and a $70.00 price target for the company. Santander cut shares of Shell to a "neutral" rating in a research report on Friday, July 11th. Finally, Sanford C. Bernstein cut shares of Shell from an "outperform" rating to a "market perform" rating in a research report on Monday, June 16th. Ten research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $76.71.

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.