SCP Investment LP Cuts Position in Shell PLC Unsponsored ADR (NYSE:SHEL)

Key Points

• SCP Investment LP has significantly reduced its stake in Shell PLC Unsponsored ADR by 43.2%, now holding 15,800 shares valued at approximately $1,158,000.
• Shell announced a quarterly dividend of $0.716 per share, resulting in an annual yield of 4.0%, with a dividend payout ratio of 65.90%.
• Despite recent downgrades from some analysts, the stock has a consensus rating of "Moderate Buy" with an average price target of $78.69.

SCP Investment LP decreased its stake in shares of Shell PLC Unsponsored ADR (NYSE:SHEL - Free Report) by 43.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,800 shares of the energy company's stock after selling 12,000 shares during the quarter. Shell comprises about 1.0% of SCP Investment LP's investment portfolio, making the stock its 18th biggest holding. SCP Investment LP's holdings in Shell were worth $1,158,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in SHEL. FMR LLC grew its holdings in shares of Shell by 32.3% in the fourth 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 period. Pzena Investment Management LLC lifted its position in shares of Shell by 0.4% in the first quarter. Pzena Investment Management LLC now owns 3,592,218 shares of the energy company's stock valued at $263,238,000 after acquiring an additional 15,043 shares in the last quarter. Voloridge Investment Management LLC lifted its position in shares of Shell by 170.3% in the fourth quarter. Voloridge Investment Management LLC now owns 3,463,372 shares of the energy company's stock valued at $216,980,000 after acquiring an additional 2,182,253 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Shell by 20.1% in the fourth quarter. Northern Trust Corp now owns 3,101,330 shares of the energy company's stock valued at $194,298,000 after purchasing an additional 519,105 shares in the last quarter. Finally, Empyrean Capital Partners LP increased its holdings in shares of Shell by 9.5% in the 4th quarter. Empyrean Capital Partners LP now owns 2,300,000 shares of the energy company's stock worth $144,095,000 after buying an additional 200,000 shares during the last quarter. Hedge funds and other institutional investors own 28.60% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on SHEL shares. TD Cowen decreased their price objective on Shell from $82.00 to $76.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Santander cut shares of Shell to a "neutral" rating in a research note on Friday, July 11th. Wells Fargo & Company reduced their price objective on shares of Shell from $80.00 to $79.00 and set an "overweight" rating on the stock in a research report on Thursday, June 26th. Piper Sandler upped their target price on Shell from $83.00 to $84.00 and gave the company an "overweight" rating in a research note on Tuesday, July 15th. Finally, HSBC restated a "hold" rating and set a $78.30 price objective (down previously from $78.90) on shares of Shell in a report on Monday. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $78.64.

Shell Trading Down 0.3%

SHEL traded down $0.22 during trading on Monday, hitting $71.78. 4,017,595 shares of the stock were exchanged, compared to its average volume of 4,791,823. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.07 and a current ratio of 1.32. The firm has a market cap of $212.19 billion, a price-to-earnings ratio of 16.17, a P/E/G ratio of 2.09 and a beta of 0.44. The firm has a 50 day simple moving average of $70.45 and a 200 day simple moving average of $67.99. Shell PLC Unsponsored ADR has a 1 year low of $58.54 and a 1 year high of $74.18.

Shell (NYSE:SHEL - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The energy company reported $1.42 earnings per share for the quarter, topping analysts' consensus estimates 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 10.67% and a net margin of 4.93%. As a group, equities analysts expect that Shell PLC Unsponsored ADR will post 7.67 EPS for the current year.

Shell Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 22nd. Shareholders of record on Friday, August 15th will be paid a dividend of $0.716 per share. The ex-dividend date is Friday, August 15th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 4.0%. Shell's dividend payout ratio (DPR) is presently 64.41%.

Shell declared that its board has authorized a share buyback plan on Friday, May 2nd that authorizes the company to buyback $3.50 billion in 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 a sign that the company's board believes its stock is undervalued.

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.