Caas Capital Management LP Has $1.91 Million Position in Shell plc (NYSE:SHEL)

Caas Capital Management LP grew its holdings in shares of Shell plc (NYSE:SHEL) by 7.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,000 shares of the energy company’s stock after buying an additional 2,000 shares during the quarter. Shell accounts for about 0.2% of Caas Capital Management LP’s holdings, making the stock its 28th biggest position. Caas Capital Management LP’s holdings in Shell were worth $1,913,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Hobbs Group Advisors LLC purchased a new position in Shell during the 2nd quarter valued at about $26,000. Fortitude Family Office LLC purchased a new stake in shares of Shell in the 3rd quarter valued at about $30,000. Triad Wealth Partners LLC purchased a new stake in Shell in the second quarter valued at approximately $31,000. Fairscale Capital LLC bought a new position in shares of Shell in the 2nd quarter worth $33,000. Finally, GHP Investment Advisors Inc. increased its stake in Shell by 40.8% in the third quarter. GHP Investment Advisors Inc. now owns 563 shares of the energy company’s stock valued at $37,000 after acquiring an additional 163 shares during the last quarter. Institutional investors and hedge funds own 28.60% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Wolfe Research started coverage on shares of Shell in a research report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Scotiabank cut their target price on Shell from $90.00 to $80.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Citigroup raised shares of Shell to a “hold” rating in a report on Wednesday, October 2nd. Royal Bank of Canada upgraded shares of Shell to a “moderate buy” rating in a research report on Tuesday, July 30th. Finally, Berenberg Bank upgraded Shell to a “strong-buy” rating in a research report on Monday, August 5th. Three investment analysts have rated the stock with a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $82.00.

Shell Price Performance

Shell stock traded up $0.27 during trading on Friday, reaching $67.82. The company had a trading volume of 4,086,601 shares, compared to its average volume of 4,168,405. The firm has a market capitalization of $211.07 billion, a PE ratio of 12.07, a price-to-earnings-growth ratio of 1.81 and a beta of 0.56. The firm’s 50-day simple moving average is $68.17 and its 200 day simple moving average is $70.56. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.12 and a current ratio of 1.41. Shell plc has a 1-year low of $60.34 and a 1-year high of $74.61.

Shell (NYSE:SHEL) last posted its quarterly earnings results on Thursday, August 1st. The energy company reported $1.97 EPS for the quarter, beating the consensus estimate of $1.82 by $0.15. Shell had a return on equity of 14.56% and a net margin of 5.97%. The firm had revenue of $75.06 billion during the quarter, compared to analysts’ expectations of $88.62 billion. During the same quarter last year, the firm earned $1.50 earnings per share. As a group, equities research analysts anticipate that Shell plc will post 8.45 earnings per share for the current fiscal year.

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.