Moore Capital Management LP Makes New $10.46 Million Investment in Shell plc (NYSE:SHEL)

Moore Capital Management LP acquired a new position in shares of Shell plc (NYSE:SHEL - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 167,009 shares of the energy company's stock, valued at approximately $10,463,000.

Several other hedge funds have also added to or reduced their stakes in SHEL. First Wilshire Securities Management Inc. boosted its holdings in shares of Shell by 1.6% in the 4th quarter. First Wilshire Securities Management Inc. now owns 9,518 shares of the energy company's stock valued at $596,000 after buying an additional 153 shares during the last quarter. Foster Group Inc. boosted its stake in shares of Shell by 5.0% in the fourth quarter. Foster Group Inc. now owns 3,393 shares of the energy company's stock valued at $213,000 after buying an additional 162 shares during the period. Titleist Asset Management LLC grew its holdings in shares of Shell by 3.1% during the 4th quarter. Titleist Asset Management LLC now owns 5,526 shares of the energy company's stock worth $346,000 after purchasing an additional 164 shares in the last quarter. Warther Private Wealth LLC lifted its holdings in shares of Shell by 5.5% during the 4th quarter. Warther Private Wealth LLC now owns 3,268 shares of the energy company's stock worth $205,000 after acquiring an additional 169 shares during the period. Finally, Klingman & Associates LLC boosted its holdings in shares of Shell by 5.2% in the 4th quarter. Klingman & Associates LLC now owns 3,421 shares of the energy company's stock valued at $214,000 after purchasing an additional 170 shares in the last quarter. Institutional investors and hedge funds own 28.60% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. TD Cowen reduced their target price on shares of Shell from $82.00 to $76.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. TD Securities restated a "buy" rating on shares of Shell in a report on Friday, April 4th. Scotiabank cut their price target 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 increased their target price on shares of Shell from $72.00 to $80.00 and gave the company an "overweight" rating in a report on Tuesday. Finally, Barclays restated an "overweight" rating on shares of Shell in a research note on Wednesday, March 26th. One research analyst has rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $78.35.

Shell Stock Performance

Shares of NYSE:SHEL traded up $0.30 during midday trading on Thursday, reaching $67.39. 2,669,835 shares of the company traded hands, compared to its average volume of 4,319,503. The company has a quick ratio of 1.10, a current ratio of 1.35 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $202.71 billion, a price-to-earnings ratio of 13.42, 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 firm's fifty day moving average price is $66.80 and its two-hundred day moving average price is $65.87.

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, beating the consensus estimate of $1.54 by $0.30. The company had revenue of $69.23 billion during the quarter, compared to analyst estimates of $79.18 billion. Shell had a return on equity of 12.75% and a net margin of 5.57%. During the same quarter last year, the company earned $2.40 earnings per share. On average, equities analysts expect that Shell plc will post 7.67 earnings per share for the current year.

Shell announced that its Board of Directors has initiated a share repurchase program on Friday, May 2nd that permits the company to repurchase $3.50 billion in outstanding shares. This repurchase authorization permits the energy company to buy up to 1.8% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's leadership believes its shares are undervalued.

Shell Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 23rd. Investors of record on Friday, May 16th will be issued a dividend of $0.716 per share. The ex-dividend date is Friday, May 16th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 4.25%. Shell's dividend payout ratio is 65.90%.

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.