Cinctive Capital Management LP Buys New Stake in Shell plc (NYSE:SHEL)

Cinctive Capital Management LP purchased a new position in Shell plc (NYSE:SHEL) in the 4th quarter, HoldingsChannel.com reports. The firm purchased 76,569 shares of the energy company’s stock, valued at approximately $4,797,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Raymond James Financial Inc. acquired a new position in Shell during the 4th quarter valued at about $91,716,000. Merewether Investment Management LP increased its stake in shares of Shell by 41.0% during the third quarter. Merewether Investment Management LP now owns 1,544,764 shares of the energy company’s stock valued at $101,877,000 after acquiring an additional 449,000 shares during the period. Fisher Asset Management LLC raised its holdings in Shell by 1.7% during the fourth quarter. Fisher Asset Management LLC now owns 24,938,735 shares of the energy company’s stock worth $1,562,412,000 after purchasing an additional 408,088 shares in the last quarter. National Bank of Canada FI boosted its stake in Shell by 236.4% during the 4th quarter. National Bank of Canada FI now owns 445,422 shares of the energy company’s stock valued at $27,906,000 after purchasing an additional 313,018 shares in the last quarter. Finally, SG Americas Securities LLC increased its position in shares of Shell by 16,663.4% during the 4th quarter. SG Americas Securities LLC now owns 307,440 shares of the energy company’s stock valued at $19,261,000 after purchasing an additional 305,606 shares during the period. 28.60% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on SHEL. UBS Group raised Shell from a “neutral” rating to a “buy” rating in a report on Wednesday, January 8th. TD Securities boosted their target price on shares of Shell from $81.00 to $82.00 and gave the stock a “buy” rating in a report on Wednesday, March 19th. Wells Fargo & Company raised their target price on shares of Shell from $81.00 to $87.00 and gave the stock an “overweight” rating in a report on Wednesday, March 26th. Wolfe Research upgraded Shell from a “peer perform” rating to an “outperform” rating and set a $80.00 price objective for the company in a research report on Friday, January 3rd. Finally, Morgan Stanley raised Shell from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $66.50 to $79.80 in a research report on Tuesday, January 7th. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, Shell presently has an average rating of “Buy” and an average price target of $80.10.

Shell Stock Performance

Shares of SHEL stock opened at $72.78 on Thursday. The stock’s fifty day simple moving average is $68.08 and its 200-day simple moving average is $66.55. The company has a market capitalization of $220.07 billion, a price-to-earnings ratio of 14.50, a P/E/G ratio of 0.98 and a beta of 0.47. 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 plc has a 1-year low of $60.15 and a 1-year high of $74.61.

Shell (NYSE:SHEL) last issued its earnings results on Thursday, January 30th. The energy company reported $1.20 earnings per share for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.54). Shell had a net margin of 5.57% and a return on equity of 12.75%. On average, sell-side analysts predict that Shell plc will post 7.67 earnings per share for the current fiscal year.

Shell Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Friday, February 14th were issued a dividend of $0.716 per share. This is a boost from Shell’s previous quarterly dividend of $0.69. This represents a $2.86 annualized dividend and a dividend yield of 3.94%. The ex-dividend date was Friday, February 14th. Shell’s payout ratio is currently 56.97%.

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.