Shell plc (NYSE:SHEL) Stock Holdings Raised by QRG Capital Management Inc.

QRG Capital Management Inc. lifted its holdings in shares of Shell plc (NYSE:SHEL) by 19.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 240,096 shares of the energy company’s stock after buying an additional 38,521 shares during the period. QRG Capital Management Inc.’s holdings in Shell were worth $17,594,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. FMR LLC grew its position in shares of Shell by 32.3% during the 4th quarter. FMR LLC now owns 86,417,177 shares of the energy company’s stock valued at $5,414,036,000 after buying an additional 21,118,234 shares during the last quarter. Fisher Asset Management LLC grew its position in shares of Shell by 1.7% during the 4th quarter. Fisher Asset Management LLC now owns 24,938,735 shares of the energy company’s stock valued at $1,562,412,000 after buying an additional 408,088 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Shell by 3.1% during the 4th quarter. Wellington Management Group LLP now owns 7,982,817 shares of the energy company’s stock valued at $500,123,000 after buying an additional 238,705 shares during the last quarter. Franklin Resources Inc. grew its position in shares of Shell by 0.8% during the 4th quarter. Franklin Resources Inc. now owns 6,023,173 shares of the energy company’s stock valued at $377,352,000 after buying an additional 50,228 shares during the last quarter. Finally, Voloridge Investment Management LLC grew its position in shares of Shell by 170.3% during the 4th quarter. Voloridge Investment Management LLC now owns 3,463,372 shares of the energy company’s stock valued at $216,980,000 after buying an additional 2,182,253 shares during the last quarter. Institutional investors own 28.60% of the company’s stock.

Shell Trading Down 1.5%

Shares of NYSE:SHEL opened at $71.44 on Tuesday. The company has a 50 day moving average of $66.19 and a 200-day moving average of $66.11. The firm has a market cap of $213.51 billion, a P/E ratio of 14.23, a P/E/G ratio of 0.98 and a beta of 0.39. Shell plc has a twelve month low of $58.55 and a twelve month high of $74.46. The company has a current ratio of 1.35, a quick ratio of 1.10 and a debt-to-equity ratio of 0.36.

Shell (NYSE:SHEL) last released its earnings results on Friday, May 2nd. The energy company reported $1.84 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.30. Shell had a net margin of 5.57% and a return on equity of 12.75%. The business had revenue of $69.23 billion for the quarter, compared to the consensus estimate of $79.18 billion. During the same period in the previous year, the firm earned $2.40 EPS. As a group, analysts anticipate that Shell plc will post 7.67 earnings per share for the current fiscal year.

Shell announced that its board has approved a share repurchase program on Friday, May 2nd that allows the company to repurchase $3.50 billion in outstanding shares. This repurchase authorization allows the energy company to purchase up to 1.8% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Shell Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 23rd. Investors of record on Friday, May 16th will be issued a $0.716 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 4.01%. Shell’s payout ratio is currently 65.90%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Hsbc Global Res raised shares of Shell to a “strong-buy” rating in a research note on Tuesday, May 13th. Sanford C. Bernstein lowered shares of Shell from an “outperform” rating to a “market perform” rating in a research note on Monday. Scotiabank reduced their target price on shares of 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 boosted their target price on shares of Shell from $72.00 to $80.00 and gave the company an “overweight” rating in a research note on Tuesday, May 13th. Finally, TD Cowen reduced their target price on shares of Shell from $82.00 to $76.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $78.26.

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.