SCP Investment LP Has $553,000 Stake in Shell plc (NYSE:SHEL)

SCP Investment LP cut its holdings in Shell plc (NYSE:SHEL) by 6.5% during the fourth quarter, HoldingsChannel reports. The firm owned 8,700 shares of the energy company’s stock after selling 600 shares during the period. Shell comprises 0.5% of SCP Investment LP’s investment portfolio, making the stock its 18th biggest position. SCP Investment LP’s holdings in Shell were worth $553,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Private Trust Co. NA boosted its position in shares of Shell by 14.7% in the fourth quarter. Private Trust Co. NA now owns 10,532 shares of the energy company’s stock valued at $693,000 after acquiring an additional 1,348 shares during the period. FMR LLC raised its position in shares of Shell by 29.1% during the third quarter. FMR LLC now owns 29,087,703 shares of the energy company’s stock valued at $1,872,666,000 after buying an additional 6,554,340 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Shell by 5.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 109,843 shares of the energy company’s stock valued at $7,228,000 after buying an additional 6,138 shares during the period. LPL Financial LLC increased its stake in Shell by 11.0% during the third quarter. LPL Financial LLC now owns 633,287 shares of the energy company’s stock valued at $40,771,000 after acquiring an additional 62,792 shares during the period. Finally, Synovus Financial Corp raised its holdings in Shell by 16.2% in the 3rd quarter. Synovus Financial Corp now owns 71,350 shares of the energy company’s stock valued at $4,594,000 after acquiring an additional 9,924 shares in the last quarter. Institutional investors own 28.60% of the company’s stock.

Shell Price Performance

Shares of NYSE SHEL traded up $0.92 during midday trading on Thursday, reaching $73.55. 4,172,991 shares of the company traded hands, compared to its average volume of 4,653,999. The firm has a market cap of $236.66 billion, a PE ratio of 13.57, a PEG ratio of 1.70 and a beta of 0.59. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.14 and a current ratio of 1.42. The stock’s 50-day simple moving average is $69.01 and its 200-day simple moving average is $66.13. Shell plc has a 12 month low of $55.78 and a 12 month high of $73.94.

Shell Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 24th. Shareholders of record on Friday, May 17th will be given a $0.688 dividend. This is an increase from Shell’s previous quarterly dividend of $0.66. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.75 annualized dividend and a yield of 3.74%. Shell’s payout ratio is presently 50.74%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on SHEL. TD Securities boosted their price objective on Shell from $74.00 to $81.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. TheStreet upgraded shares of Shell from a “c” rating to a “b-” rating in a research note on Monday, January 29th. Finally, Wells Fargo & Company lifted their target price on shares of Shell from $88.00 to $91.00 and gave the company an “overweight” rating in a research report on Friday, May 3rd. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $66.50.

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.