SCP Investment LP Cuts Holdings in Shell plc (NYSE:SHEL)

SCP Investment LP lowered its position in Shell plc (NYSE:SHEL) by 6.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,700 shares of the energy company’s stock after selling 600 shares during the quarter. Shell makes up about 0.5% of SCP Investment LP’s holdings, making the stock its 18th biggest holding. SCP Investment LP’s holdings in Shell were worth $553,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of SHEL. Provence Wealth Management Group purchased a new stake in shares of Shell during the 3rd quarter worth approximately $26,000. VisionPoint Advisory Group LLC purchased a new position in shares of Shell during the third quarter worth about $26,000. Rise Advisors LLC lifted its holdings in shares of Shell by 84.4% in the 4th quarter. Rise Advisors LLC now owns 413 shares of the energy company’s stock valued at $27,000 after purchasing an additional 189 shares during the last quarter. Valley National Advisers Inc. boosted its position in shares of Shell by 217.7% in the 4th quarter. Valley National Advisers Inc. now owns 413 shares of the energy company’s stock valued at $27,000 after purchasing an additional 283 shares during the period. Finally, Headlands Technologies LLC acquired a new position in Shell during the third quarter worth approximately $32,000. 28.60% of the stock is owned by hedge funds and other institutional investors.

Shell Price Performance

Shares of Shell stock traded up $0.92 during trading on Thursday, reaching $73.55. The company’s stock had a trading volume of 4,172,991 shares, compared to its average volume of 4,653,999. The business has a 50 day moving average price of $69.01 and a 200-day moving average price of $66.13. The company has a market capitalization of $236.66 billion, a P/E ratio of 13.57, a price-to-earnings-growth ratio of 1.70 and a beta of 0.59. The company has a quick ratio of 1.14, a current ratio of 1.42 and a debt-to-equity ratio of 0.37. Shell plc has a 12-month low of $55.78 and a 12-month high of $73.94.

Shell Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 24th. Investors of record on Friday, May 17th will be paid a $0.688 dividend. This is a boost from Shell’s previous quarterly dividend of $0.66. The ex-dividend date is Thursday, May 16th. This represents a $2.75 annualized dividend and a dividend yield of 3.74%. Shell’s dividend payout ratio (DPR) is 50.74%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. TD Securities raised their target price on shares of Shell from $74.00 to $81.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. TheStreet raised 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 Shell from $88.00 to $91.00 and gave the company an “overweight” rating in a research note on Friday, May 3rd. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $66.50.

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.