Shell plc (NYSE:SHEL) is Merewether Investment Management LP's 3rd Largest Position

Merewether Investment Management LP raised its position in shares of Shell plc (NYSE:SHEL - Free Report) by 46.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,262,997 shares of the energy company's stock after acquiring an additional 718,233 shares during the period. Shell makes up 5.7% of Merewether Investment Management LP's portfolio, making the stock its 3rd biggest position. Merewether Investment Management LP owned about 0.07% of Shell worth $141,777,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Valley National Advisers Inc. grew its position in shares of Shell by 930.2% in the 4th quarter. Valley National Advisers Inc. now owns 443 shares of the energy company's stock worth $27,000 after acquiring an additional 400 shares in the last quarter. CoreFirst Bank & Trust bought a new stake in Shell during the 4th quarter valued at $28,000. Human Investing LLC bought a new stake in Shell during the 4th quarter valued at $31,000. Transce3nd LLC bought a new stake in shares of Shell in the 4th quarter worth $34,000. Finally, Millstone Evans Group LLC bought a new stake in shares of Shell in the 4th quarter worth $36,000. Hedge funds and other institutional investors own 28.60% of the company's stock.

Shell Stock Performance

Shares of NYSE SHEL opened at $66.36 on Tuesday. The business's 50-day moving average price is $66.75 and its two-hundred day moving average price is $65.84. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.35 and a quick ratio of 1.10. Shell plc has a one year low of $58.55 and a one year high of $74.61. The company has a market capitalization of $199.60 billion, a P/E ratio of 13.22, a price-to-earnings-growth ratio of 0.98 and a beta of 0.38.

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 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 during the quarter, compared to analysts' expectations of $79.18 billion. During the same quarter in the previous year, the firm earned $2.40 EPS. Analysts anticipate that Shell plc will post 7.67 earnings per share for the current fiscal year.

Shell declared that its Board of Directors has initiated a share buyback program on Friday, May 2nd that authorizes the company to repurchase $3.50 billion in shares. This repurchase authorization authorizes the energy company to purchase up to 1.8% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's management believes its stock is undervalued.

Shell Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 23rd. Stockholders of record on Friday, May 16th will be issued a $0.716 dividend. The ex-dividend date is Friday, May 16th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 4.32%. Shell's payout ratio is presently 65.90%.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Royal Bank of Canada reiterated an "outperform" rating on shares of Shell in a report on Wednesday, March 26th. TD Securities reaffirmed a "buy" rating on shares of Shell in a research report on Friday, April 4th. Wells Fargo & Company cut their target price on Shell from $83.00 to $80.00 and set an "overweight" rating on the stock in a research report on Monday, May 5th. Barclays reaffirmed an "overweight" rating on shares of Shell in a research report on Wednesday, March 26th. Finally, Scotiabank cut their target price on Shell from $75.00 to $70.00 and set a "sector outperform" rating on the stock in a research report on Friday, April 11th. One investment analyst has rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $77.35.

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.

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