Voloridge Investment Management LLC Has $216.98 Million Stock Position in Shell plc (NYSE:SHEL)

Voloridge Investment Management LLC raised its stake in shares of Shell plc (NYSE:SHEL) by 170.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,463,372 shares of the energy company’s stock after acquiring an additional 2,182,253 shares during the quarter. Shell makes up 0.8% of Voloridge Investment Management LLC’s portfolio, making the stock its 8th largest holding. Voloridge Investment Management LLC owned about 0.11% of Shell worth $216,980,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in SHEL. FMR LLC raised its holdings in shares of Shell by 32.3% in the fourth 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. Raymond James Financial Inc. bought a new stake in Shell during the 4th quarter worth about $91,716,000. Freestone Grove Partners LP bought a new stake in Shell during the 4th quarter worth about $83,204,000. Merewether Investment Management LP raised its holdings in Shell by 46.5% during the 4th quarter. Merewether Investment Management LP now owns 2,262,997 shares of the energy company’s stock worth $141,777,000 after purchasing an additional 718,233 shares during the last quarter. Finally, Bridgewater Associates LP raised its holdings in Shell by 523.9% during the 4th quarter. Bridgewater Associates LP now owns 831,000 shares of the energy company’s stock worth $52,062,000 after purchasing an additional 697,806 shares during the last quarter. 28.60% of the stock is owned by institutional investors.

Shell Price Performance

Shares of SHEL opened at $66.61 on Tuesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.10 and a current ratio of 1.35. The stock has a 50 day simple moving average of $66.78 and a 200 day simple moving average of $65.86. Shell plc has a 52-week low of $58.55 and a 52-week high of $74.46. The firm has a market capitalization of $200.37 billion, a PE ratio of 13.27, a P/E/G ratio of 0.98 and a beta of 0.38.

Shell (NYSE:SHEL) last issued its quarterly earnings data on Friday, May 2nd. The energy company reported $1.84 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $79.18 billion. During the same period in the previous year, the firm earned $2.40 EPS. Sell-side analysts predict that Shell plc will post 7.67 EPS for the current fiscal year.

Shell declared that its board has authorized a share repurchase program on Friday, May 2nd that permits the company to buyback $3.50 billion in shares. This buyback authorization permits the energy company to buy up to 1.8% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Shell Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 23rd. Shareholders of record on Friday, May 16th will be given a dividend of $0.716 per share. This represents a $2.86 dividend on an annualized basis and a yield of 4.30%. The ex-dividend date of this dividend is Friday, May 16th. Shell’s dividend payout ratio (DPR) is currently 65.90%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. TD Cowen dropped their price objective on Shell from $82.00 to $76.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. Barclays reissued an “overweight” rating on shares of Shell in a report on Wednesday, March 26th. Wells Fargo & Company dropped their price objective on Shell from $83.00 to $80.00 and set an “overweight” rating for the company in a report on Monday, May 5th. Hsbc Global Res raised Shell to a “strong-buy” rating in a research note on Tuesday, May 13th. Finally, Piper Sandler upped their price target on Shell from $72.00 to $80.00 and gave the company an “overweight” rating in a research note on Tuesday, May 13th. One equities research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, Shell has an average rating of “Buy” and an average price target of $78.35.

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.