Cinctive Capital Management LP Takes $4.80 Million Position in Shell plc (NYSE:SHEL)

Cinctive Capital Management LP bought a new position in Shell plc (NYSE:SHEL - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund bought 76,569 shares of the energy company's stock, valued at approximately $4,797,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Valley National Advisers Inc. boosted its position in Shell by 930.2% in the fourth quarter. Valley National Advisers Inc. now owns 443 shares of the energy company's stock worth $27,000 after purchasing an additional 400 shares during the last quarter. CoreFirst Bank & Trust purchased a new position in shares of Shell in the fourth quarter worth approximately $28,000. Human Investing LLC purchased a new stake in Shell during the fourth quarter valued at approximately $31,000. Millstone Evans Group LLC bought a new position in Shell in the fourth quarter worth approximately $36,000. Finally, Summit Securities Group LLC grew its position in shares of Shell by 50.0% during the 4th quarter. Summit Securities Group LLC now owns 600 shares of the energy company's stock valued at $38,000 after acquiring an additional 200 shares during the period. 28.60% of the stock is currently owned by hedge funds and other institutional investors.

Shell Price Performance

Shares of SHEL stock traded down $5.64 during trading hours on Friday, hitting $64.13. The stock had a trading volume of 9,976,657 shares, compared to its average volume of 4,180,911. The stock's 50-day moving average price is $68.12 and its two-hundred day moving average price is $66.53. Shell plc has a one year low of $60.15 and a one year high of $74.61. The stock has a market capitalization of $193.92 billion, a price-to-earnings ratio of 12.78, a PEG ratio of 0.98 and a beta of 0.27. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.35 and a quick ratio of 1.10.

Shell (NYSE:SHEL - Get Free Report) last posted its earnings results on Thursday, January 30th. The energy company reported $1.20 EPS 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%. Equities analysts forecast that Shell plc will post 7.67 EPS for the current year.

Shell Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Friday, February 14th were given a dividend of $0.716 per share. This represents a $2.86 annualized dividend and a dividend yield of 4.47%. This is a boost from Shell's previous quarterly dividend of $0.69. The ex-dividend date was Friday, February 14th. Shell's dividend payout ratio is currently 56.97%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SHEL. Morgan Stanley upgraded Shell from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $66.50 to $79.80 in a research report on Tuesday, January 7th. Wolfe Research raised shares of Shell from a "peer perform" rating to an "outperform" rating and set a $80.00 target price for the company in a report on Friday, January 3rd. UBS Group raised shares of Shell from a "neutral" rating to a "buy" rating in a report on Wednesday, January 8th. TD Cowen assumed coverage on shares of Shell in a research report on Wednesday, March 19th. They set a "buy" rating and a $81.00 price objective on the stock. Finally, Royal Bank of Canada reaffirmed an "outperform" rating on shares of Shell in a report on Wednesday, March 26th. One research 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 stock. According to data from MarketBeat, Shell currently has a consensus rating of "Buy" and a consensus price target of $80.10.

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.