Senator Investment Group LP Has $37.27 Million Stake in Shell plc (NYSE:SHEL)

Senator Investment Group LP lowered its stake in shares of Shell plc (NYSE:SHEL) by 19.1% in the second quarter, Holdings Channel reports. The firm owned 516,400 shares of the energy company’s stock after selling 121,647 shares during the period. Shell comprises about 1.8% of Senator Investment Group LP’s holdings, making the stock its 24th biggest position. Senator Investment Group LP’s holdings in Shell were worth $37,274,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Lazard Asset Management LLC boosted its stake in Shell by 21.0% during the first quarter. Lazard Asset Management LLC now owns 44,896 shares of the energy company’s stock worth $3,009,000 after buying an additional 7,779 shares in the last quarter. Raymond James & Associates lifted its holdings in Shell by 65.7% during the 2nd quarter. Raymond James & Associates now owns 1,698,247 shares of the energy company’s stock worth $122,579,000 after buying an additional 673,624 shares in the last quarter. Foresight Global Investors Inc. bought a new position in Shell in the second quarter valued at about $1,472,000. Norden Group LLC increased its position in Shell by 2,843.4% in the first quarter. Norden Group LLC now owns 170,867 shares of the energy company’s stock worth $11,455,000 after purchasing an additional 165,062 shares during the period. Finally, Aprio Wealth Management LLC acquired a new position in Shell during the 1st quarter valued at about $206,000. Institutional investors and hedge funds own 28.60% of the company’s stock.

Shell Stock Performance

SHEL opened at $66.11 on Monday. The company has a quick ratio of 1.12, a current ratio of 1.41 and a debt-to-equity ratio of 0.35. The stock has a market cap of $206.97 billion, a price-to-earnings ratio of 12.20, a PEG ratio of 1.60 and a beta of 0.57. Shell plc has a 12-month low of $60.34 and a 12-month high of $74.61. The business has a 50 day moving average of $70.35 and a 200-day moving average of $70.77.

Shell (NYSE:SHEL) last issued its quarterly earnings data on Thursday, August 1st. The energy company reported $1.97 earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of $88.62 billion. During the same period in the prior year, the firm earned $1.50 earnings per share. On average, equities research analysts expect that Shell plc will post 8.44 earnings per share for the current year.

Shell Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Friday, August 16th were given a $0.688 dividend. The ex-dividend date was Friday, August 16th. This represents a $2.75 dividend on an annualized basis and a dividend yield of 4.16%. Shell’s payout ratio is presently 50.74%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Wells Fargo & Company reduced their price objective on shares of Shell from $88.00 to $84.00 and set an “overweight” rating on the stock in a research note on Friday. Berenberg Bank raised shares of Shell to a “strong-buy” rating in a research report on Monday, August 5th. Scotiabank decreased their price target on shares of Shell from $95.00 to $90.00 and set a “sector outperform” rating for the company in a research note on Friday, July 12th. Argus lifted their target price on Shell from $77.00 to $79.00 and gave the company a “buy” rating in a research report on Thursday, June 6th. Finally, Royal Bank of Canada raised Shell to a “moderate buy” rating in a research report on Tuesday, July 30th. Two 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. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $83.50.

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.