Cinctive Capital Management LP Has $1.97 Million Position in Shell PLC Unsponsored ADR $SHEL

Key Points

• Cinctive Capital Management LP reduced its holdings in Shell PLC Unsponsored ADR by 64.9%, selling 49,691 shares and retaining a total of 26,878 shares, valued at approximately $1.97 million.
• Shell's recent quarterly earnings report showed an EPS of $1.42, surpassing analyst expectations, although revenue fell short of estimates at $66.44 billion.
• The company declared a quarterly dividend of $0.716 per share, reflecting a 4.0% dividend yield, with the payout scheduled for September 22nd.

Cinctive Capital Management LP trimmed its holdings in shares of Shell PLC Unsponsored ADR (NYSE:SHEL - Free Report) by 64.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 26,878 shares of the energy company's stock after selling 49,691 shares during the quarter. Cinctive Capital Management LP's holdings in Shell were worth $1,970,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of SHEL. Brighton Jones LLC increased its position in Shell by 51.7% during the fourth quarter. Brighton Jones LLC now owns 7,463 shares of the energy company's stock worth $468,000 after acquiring an additional 2,545 shares during the period. Barclays PLC increased its position in Shell by 136.2% during the fourth quarter. Barclays PLC now owns 7,824 shares of the energy company's stock worth $490,000 after acquiring an additional 4,512 shares during the period. The Manufacturers Life Insurance Company increased its position in Shell by 1.5% during the fourth quarter. The Manufacturers Life Insurance Company now owns 14,646 shares of the energy company's stock worth $918,000 after acquiring an additional 223 shares during the period. Ameriprise Financial Inc. increased its position in Shell by 27.8% during the fourth quarter. Ameriprise Financial Inc. now owns 567,552 shares of the energy company's stock worth $35,552,000 after acquiring an additional 123,487 shares during the period. Finally, Benjamin Edwards Inc. increased its holdings in Shell by 3.2% in the 4th quarter. Benjamin Edwards Inc. now owns 10,493 shares of the energy company's stock valued at $657,000 after buying an additional 322 shares during the period. 28.60% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Scotiabank reissued an "outperform" rating on shares of Shell in a report on Friday, July 11th. Piper Sandler decreased their target price on shares of Shell from $84.00 to $82.00 and set an "overweight" rating on the stock in a report on Monday, August 18th. Sanford C. Bernstein lowered shares of Shell from an "outperform" rating to a "market perform" rating in a report on Monday, June 16th. Melius Research assumed coverage on shares of Shell in a report on Wednesday, August 20th. They issued a "hold" rating and a $70.00 target price on the stock. Finally, Hsbc Global Res lowered shares of Shell from a "strong-buy" rating to a "hold" rating in a report on Monday, August 4th. Ten research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $76.71.

Shell Trading Up 0.2%

NYSE:SHEL traded up $0.17 during mid-day trading on Monday, hitting $71.77. 3,097,557 shares of the company's stock were exchanged, compared to its average volume of 2,870,488. The company has a 50 day simple moving average of $72.06 and a 200-day simple moving average of $69.10. The company has a current ratio of 1.32, a quick ratio of 1.07 and a debt-to-equity ratio of 0.36. Shell PLC Unsponsored ADR has a fifty-two week low of $58.54 and a fifty-two week high of $74.21. The firm has a market capitalization of $210.86 billion, a P/E ratio of 16.16, a PEG ratio of 1.88 and a beta of 0.46.

Shell (NYSE:SHEL - Get Free Report) last posted its earnings results on Thursday, July 31st. The energy company reported $1.42 EPS for the quarter, topping the consensus estimate of $1.13 by $0.29. Shell had a net margin of 4.93% and a return on equity of 10.67%. The business had revenue of $66.44 billion for the quarter, compared to the consensus estimate of $69.31 billion. As a group, research analysts expect that Shell PLC Unsponsored ADR will post 7.67 earnings per share for the current year.

Shell Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 22nd. Stockholders of record on Friday, August 15th will be given a $0.716 dividend. The ex-dividend date is Friday, August 15th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 4.0%. Shell's payout ratio is 64.41%.

Shell 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.