Shell plc (NYSE:SHEL) Stake Boosted by SIR Capital Management L.P.

SIR Capital Management L.P. lifted its holdings in shares of Shell plc (NYSE:SHEL) by 3.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 89,200 shares of the energy company’s stock after buying an additional 2,800 shares during the period. SIR Capital Management L.P.’s holdings in Shell were worth $6,438,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in SHEL. Bright Futures Wealth Management LLC. raised its stake in Shell by 8.5% during the 2nd quarter. Bright Futures Wealth Management LLC. now owns 11,364 shares of the energy company’s stock valued at $815,000 after purchasing an additional 889 shares during the period. Royal London Asset Management Ltd. boosted its holdings in Shell by 4.2% in the second quarter. Royal London Asset Management Ltd. now owns 69,717 shares of the energy company’s stock worth $5,032,000 after purchasing an additional 2,797 shares in the last quarter. Dorsey & Whitney Trust CO LLC boosted its holdings in Shell by 4.4% in the second quarter. Dorsey & Whitney Trust CO LLC now owns 13,799 shares of the energy company’s stock worth $996,000 after purchasing an additional 584 shares in the last quarter. Edgemoor Investment Advisors Inc. boosted its holdings in Shell by 8.0% during the second quarter. Edgemoor Investment Advisors Inc. now owns 154,501 shares of the energy company’s stock valued at $11,152,000 after acquiring an additional 11,407 shares during the period. Finally, Choreo LLC boosted its holdings in Shell by 698.6% during the second quarter. Choreo LLC now owns 76,319 shares of the energy company’s stock valued at $5,557,000 after acquiring an additional 66,762 shares during the period. 28.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SHEL. Royal Bank of Canada raised shares of Shell to a “moderate buy” rating in a report on Tuesday, July 30th. Argus raised their price objective on shares of Shell from $77.00 to $79.00 and gave the stock a “buy” rating in a report on Thursday, June 6th. Wells Fargo & Company decreased their price target on shares of Shell from $91.00 to $90.00 and set an “overweight” rating on the stock in a research note on Friday, June 21st. Wolfe Research initiated coverage on shares of Shell in a research note on Thursday, July 18th. They set a “peer perform” rating on the stock. Finally, Scotiabank decreased their price target on shares of Shell from $95.00 to $90.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 12th. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $85.00.

Shell Price Performance

Shares of SHEL stock opened at $67.43 on Tuesday. Shell plc has a 52-week low of $60.34 and a 52-week high of $74.61. The stock has a market cap of $213.22 billion, a PE ratio of 12.44, a PEG ratio of 1.49 and a beta of 0.57. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.12 and a current ratio of 1.41. The firm’s 50 day moving average price is $71.84 and its two-hundred day moving average price is $70.43.

Shell (NYSE:SHEL) last announced its quarterly earnings results on Thursday, August 1st. The energy company reported $1.97 earnings per share for the quarter, topping analysts’ consensus estimates of $1.82 by $0.15. Shell had a net margin of 5.97% and a return on equity of 14.56%. The company had revenue of $75.06 billion for the quarter, compared to analysts’ expectations of $88.62 billion. During the same period last year, the firm posted $1.50 earnings per share. As a group, analysts forecast that Shell plc will post 8.54 EPS for the current year.

Shell Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 23rd. Investors of record on Friday, August 16th will be given a $0.688 dividend. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.75 annualized dividend and a yield of 4.08%. Shell’s dividend payout ratio is currently 50.74%.

Shell Company 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.