Two Sigma Investments LP Trims Stock Position in Shell plc (NYSE:SHEL)

Two Sigma Investments LP trimmed its holdings in shares of Shell plc (NYSE:SHEL - Free Report) by 0.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,059,719 shares of the energy company's stock after selling 11,582 shares during the period. Two Sigma Investments LP owned about 0.07% of Shell worth $129,041,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of SHEL. FMR LLC raised its stake in shares of 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 buying an additional 21,118,234 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Shell during the 4th quarter worth approximately $91,716,000. Freestone Grove Partners LP purchased a new position in shares of Shell during the 4th quarter worth approximately $83,204,000. Merewether Investment Management LP raised its stake in shares of Shell by 46.5% during the 4th quarter. Merewether Investment Management LP now owns 2,262,997 shares of the energy company's stock worth $141,777,000 after buying an additional 718,233 shares in the last quarter. Finally, Bridgewater Associates LP raised its stake in shares of Shell by 523.9% during the 4th quarter. Bridgewater Associates LP now owns 831,000 shares of the energy company's stock worth $52,062,000 after buying an additional 697,806 shares in the last quarter. 28.60% of the stock is owned by hedge funds and other institutional investors.

Shell Price Performance

Shares of NYSE:SHEL opened at $66.57 on Monday. The business's fifty day moving average price is $66.80 and its two-hundred day moving average price is $65.87. The stock has a market cap of $200.26 billion, a PE ratio of 13.26, a price-to-earnings-growth ratio of 0.98 and a beta of 0.38. 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 plc has a one year low of $58.55 and a one year high of $74.46.

Shell (NYSE:SHEL - Get Free Report) last posted its quarterly earnings data 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 return on equity of 12.75% and a net margin of 5.57%. The business had revenue of $69.23 billion for the quarter, compared to analysts' expectations of $79.18 billion. During the same quarter last year, the firm earned $2.40 earnings per share. On average, analysts forecast that Shell plc will post 7.67 EPS for the current fiscal year.

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

Shell Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 23rd. Stockholders of record on Friday, May 16th will be issued a dividend of $0.716 per share. This represents a $2.86 annualized dividend and a dividend yield of 4.30%. The ex-dividend date is Friday, May 16th. Shell's dividend payout ratio (DPR) is 65.90%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on SHEL shares. Scotiabank dropped their price objective on Shell from $75.00 to $70.00 and set a "sector outperform" rating for the company in a research note on Friday, April 11th. Piper Sandler raised their price objective on Shell from $72.00 to $80.00 and gave the company an "overweight" rating in a research note on Tuesday, May 13th. TD Securities reaffirmed a "buy" rating on shares of Shell in a research note on Friday, April 4th. TD Cowen dropped their price objective on Shell from $82.00 to $76.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Finally, Wells Fargo & Company dropped their price objective on Shell from $83.00 to $80.00 and set an "overweight" rating for the company in a research note on Monday, May 5th. One analyst has rated the stock with a hold rating, eleven have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price 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.

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