Mackenzie Financial Corp Decreases Position in Shell plc (NYSE:SHEL)

Mackenzie Financial Corp lessened its holdings in Shell plc (NYSE:SHEL - Free Report) by 7.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,273,966 shares of the energy company's stock after selling 105,115 shares during the period. Mackenzie Financial Corp's holdings in Shell were worth $79,814,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in SHEL. FMR LLC raised its holdings in shares of Shell by 32.3% in 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 during the last quarter. Voloridge Investment Management LLC increased its stake in 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 last quarter. Raymond James Financial Inc. purchased a new stake in Shell in the 4th quarter valued at about $91,716,000. Freestone Grove Partners LP purchased a new stake in Shell in the 4th quarter valued at about $83,204,000. Finally, Merewether Investment Management LP increased its stake in Shell by 46.5% in 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 buying an additional 718,233 shares during the last quarter. Institutional investors and hedge funds own 28.60% of the company's stock.

Shell Stock Performance

SHEL traded down $0.23 on Friday, hitting $66.21. The company's stock had a trading volume of 2,149,728 shares, compared to its average volume of 4,292,440. The company's 50 day simple moving average is $66.12 and its 200-day simple moving average is $65.81. The firm has a market cap of $197.90 billion, a P/E ratio of 13.19, a price-to-earnings-growth ratio of 0.98 and a beta of 0.38. Shell plc has a 12 month low of $58.55 and a 12 month 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.

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

Shell Dividend Announcement

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 paid a $0.716 dividend. This represents a $2.86 annualized dividend and a yield of 4.33%. The ex-dividend date of this dividend is Friday, May 16th. Shell's dividend payout ratio is presently 65.90%.

Shell announced that its board has authorized a stock buyback plan on Friday, May 2nd that authorizes the company to buyback $3.50 billion in outstanding shares. This buyback authorization authorizes the energy company to buy up to 1.8% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's board believes its stock is undervalued.

Analysts Set New Price Targets

Several research firms have commented on SHEL. Wells Fargo & Company decreased their price objective on shares of Shell from $83.00 to $80.00 and set an "overweight" rating for the company in a research note on Monday, May 5th. Barclays reissued an "overweight" rating on shares of Shell in a research report on Wednesday, March 26th. Royal Bank of Canada reissued an "outperform" rating on shares of Shell in a research report on Wednesday, March 26th. Scotiabank reduced their target price on shares of Shell from $75.00 to $70.00 and set a "sector outperform" rating for the company in a research report on Friday, April 11th. Finally, TD Securities reissued a "buy" rating on shares of Shell in a research report on Friday, April 4th. One research analyst has rated the stock with a hold rating, eleven have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $78.35.

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.