Empyrean Capital Partners LP Has $144.10 Million Stock Holdings in Shell plc (NYSE:SHEL)

Empyrean Capital Partners LP lifted its holdings in Shell plc (NYSE:SHEL) by 9.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 2,300,000 shares of the energy company’s stock after purchasing an additional 200,000 shares during the quarter. Shell comprises 6.6% of Empyrean Capital Partners LP’s holdings, making the stock its 4th biggest position. Empyrean Capital Partners LP owned approximately 0.08% of Shell worth $144,095,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of SHEL. FMR LLC boosted its stake in Shell by 32.3% in the 4th quarter. FMR LLC now owns 86,417,177 shares of the energy company’s stock worth $5,414,036,000 after purchasing an additional 21,118,234 shares during the period. Fisher Asset Management LLC raised its position in Shell by 1.7% in 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 lifted its stake in Shell by 3.1% in 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 acquiring an additional 238,705 shares in the last quarter. Franklin Resources Inc. grew its stake 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 worth $377,352,000 after acquiring an additional 50,228 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in shares of Shell by 20.1% in the fourth quarter. Northern Trust Corp now owns 3,101,330 shares of the energy company’s stock valued at $194,298,000 after purchasing an additional 519,105 shares during the last quarter. 28.60% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

SHEL has been the topic of several analyst reports. TD Securities reiterated a “buy” rating on shares of Shell in a report on Friday, April 4th. Royal Bank of Canada reissued an “outperform” rating on shares of Shell in a research note on Wednesday, March 26th. Wells Fargo & Company cut their price target on shares of Shell from $83.00 to $80.00 and set an “overweight” rating for the company in a research note on Monday. Scotiabank dropped their target price on shares of Shell from $75.00 to $70.00 and set a “sector outperform” rating on the stock in a report on Friday, April 11th. Finally, Barclays restated an “overweight” rating on shares of Shell in a research note on Wednesday, March 26th. One analyst has rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $77.35.

Shell Trading Up 0.0 %

Shares of Shell stock opened at $65.07 on Friday. The firm’s 50-day moving average price is $66.74 and its two-hundred day moving average price is $65.86. The company has a market capitalization of $195.74 billion, a price-to-earnings ratio of 12.96, a PEG ratio of 0.98 and a beta of 0.38. The company has a quick ratio of 1.10, a current ratio of 1.35 and a debt-to-equity ratio of 0.36. Shell plc has a 12-month low of $58.55 and a 12-month high of $74.61.

Shell (NYSE:SHEL) last posted its earnings results on Friday, May 2nd. The energy company reported $1.84 earnings per share 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 firm had revenue of $69.23 billion for the quarter, compared to analysts’ expectations of $79.18 billion. During the same quarter in the previous year, the firm posted $2.40 earnings per share. On average, analysts forecast that Shell plc will post 7.67 earnings per share for the current fiscal year.

Shell declared that its Board of Directors has approved a stock buyback program on Friday, May 2nd that authorizes the company to buyback $3.50 billion in outstanding shares. This buyback authorization authorizes the energy company to repurchase up to 1.8% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management 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 given a dividend of $0.716 per share. The ex-dividend date is Friday, May 16th. This represents a $2.86 annualized dividend and a yield of 4.40%. Shell’s dividend payout ratio is presently 65.90%.

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.